I'm holding lots since 2.5c averaging up to 4c with SSPP. In hindsight I would have sold in the 40s and bought back now - though the looming end of FY had me trapped between giving a lot of money to the taxman about now or waiting until after June 30 to put it off into another FY and delay tax another year. This really backfired on me this time - though I still sit of a big profit rather than a huge profit. It is always a tricky thing to know when to sell when facing a very large tax bill - as if it had, say only fallen to 35c I would have been much better off holding.
Anyway - lessons learnt on BLR, WMT and GDN as they have turned me grey over the last three months-
- "no-one goes broke taking a profit" - while it is there
- STOP LOSSES on all stocks based on peak price allowing 10-15% retrace max (and DON'T soften and move/cancel them)
- "sell in May and go away"!
- "Don't fall in love with a stock" - because they won't love you back!
WMT
western metals limited
