I haven't been posting much on NEU of late, been a bit too depressing aint it? NEU has gone from by faaar my largest holding to my 3rd, and I havent sold a single share. Having watched us drift, fall, and stumble from the giddy heights of 25.00 down to where we are today, I'm looking at the chart below, thinking of the fundamentals, and wondering about lessons for the future..
I'm not sure selling anywhere along the way would have been the right call, even now. We know what the 4-5 broker targets are (and how close they are to eachother) as well as our announcements, sales figures & targets (slight miss), projections, excellent P2 results (x3) in NNZ, positive FDA meeting etc, size of TM etc. At what point did the fundamentals say, or even hint, sell?
I know there has been a hell of a lot of head-scratching (or wailing and gnashing of teeth depending on your buy in level), I've been reasonably calm, helped by an average (a wee bit) lower than where we are now, and a few other stocks having great runs to ease the pain.
I'm sure I'm not the only one who remembers Jabra banging on about us hitting $16, and oh how we laughed, but even if his one justification seemed to be a gap that needed closing (most TA folk would dispute the inevitable nature of such a need), he was righ dammit.
Perhaps the lesson(s) will only become clear over the next few months, or years. I'm rusted on now I think, and I'll nibble some more as we (if we) approach my average. Surely we won't keep drifting down right? But I thought that at 22, 20, 15, 13, and now 12. A cruel mistress is the ASX.
Long-winded way of saying not much, sorry. I guess I was wondering what other folk make of our situation in a general investing lessons sense. Did we mess up by holding it all (if you did)? And if you sold, when, and why? Never mind me, some quality Barossa shiraz and I'm waxing lyrical.
GLA
EDIT* also not the place for this rant (the TA thread), in my defence it started because I was looking at a chart...
(20min delay)