Reply to victorp. I bought the 400,000 units yesterday for 200,000 at 47c and 200,000 for 45.5c. Originally posted them at 48c and 48.5c in 2 allotments. They HAD to be sold today to 'cancel' out Commsec- where you buy but do not have to pay if you sell them same day or next day at the latest. I know it is a very very risky move as you can be forced to take a loss if the market downs. Spare me the lecture(but I respect your right to do so, I deserve it!!!).
When I viewed the pre open price I knew it was an impossibility to sell at these prices. Amended them as 2 allotments then decided to cancel and group them as one 400,000 units allotment.
As of 10am WST: anylitic information on IRESS
45.5c 422 500 units sold 45.0c 732 177 44.5 405 188 44.0c 901 713
I missed the 45.5c because that is opening and we all know that happens in a nanosecond. Missed the 45c sell by the time I placed. Even if I placed I would not have sold as I was at the back of the que. Same with 44.5. My only option was the 44c que.
By 9am the bid was 43c. Myself and a few stood our ground for 25 minutes. The 'cappers programme' gave up and offered 43.5c. Then the order started to execute at 44c. Long and behold, the obvious, some one who had the jitters opened up a 43.5c sell que, programme dropped back to 43c.
I am not a 'capper' or on the conspiracy trail. Every one to their own but us the share holders determine how much we make or lose by the price we are willing to sell/buy.
Yes, their is unethical trading but those who do it just capitalise on market conditions, mainly fear!
Every one get your calculators out. Work out my loss!. People say 'They made a profit and took a loss'. How untrue, YOU make your profits AND losses.
The market has alot of 'noise'. Filter out the facts. MEO is a 'stampede ride' when it eventually runs. I will still retain 600,000 units. I state that incase people thread that the upper sell figures are all bogus.
Tread your own path.
MEO Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
