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chuk

14,144 Posts.

4091

28/09/19

07:37

Post #: 40617796
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Originally posted by chuk: ↑

I agree. Their buy discussion sounded like they really thought it was fully valued for now but they hope to see it hold up as they sell.
One thing I learned decades ago is to not trust broker recommendations. I will look at their research and compare to my own research but I won’t rely on them.
As for their sell on Pet; I thought they sounded like they knew far less about the company than many posters and long term holders here so I wouldn’t act on it alone.
Having said that, I sold my trading parcel today after it failed to rally as I expected and then sold the last remnants of my holdings near the close for the same reason.
That actually had nothing to do with these guys recommendation because I didn’t even watch that or know what it was about until after the market closed. I was too busy today to read most of this thread until after the close. I only sold because I was starting to see the chart as positive again early this week but by yesterday’s close, that changed for me and then today’s lack of a solid bounce from 3.30 made me more cautious. I then looked for a sharp rally from the mid to high 1.20’s. While it rallied, it was not a very solid rally like I expected. In hindsight, the lack of a solid rally may have been largely due to many having seen that video and the bounce may be delayed. Overall though, the chart is now looking more like an intermediate topping pattern is in now and most of that formed before today. News could change that if it’s good enough news but my decision to sell most near the highs and switch to another stock that had only just broken out of a 2 year consolidation has pushed my portfolio to new post gfc highs so I’m happy with my decision. I still think this is a great long term company in the making and will watch in case I get an opportunity to re-enter maybe with a smaller position if cash becomes available and that time. I had to be more cautious here because I got in late at around 1.10 and not 30c or less like many others here. Many of you would have big tax implications by selling and trying to buy back cheaper so a trading strategy won’t suit everyone that wants to be in this long term. Good luck guys.

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I wrote most of that yesterday so “today” was referring to Friday and “yesterday” was referring to Thursday.

PET Price at posting: $1.32 Sentiment: Hold Disclosure: Not Held
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