I'm a bit worried that the spray on the horizon is 50c reef and not the promised $1 island.
At 59c, I've got my nose 5c above the water line. If we hit the reef, I'm out. Holding for now, but this GSW Sea is a nasty mistress and I'm not liking the feeling of it right now.
I know that there is a swag of cash (for now, at least) and I can see that the underlying business should have some value - but for me, this is a short-term trade with a fair bit of risk until Management's actions give confidence to regard it otherwise.
If we do avoid 50c reef, I'll be happy to land at 75c Atoll, get off there and catch another boat somewhere else.
GSW Price at posting:
59.5¢ Sentiment: Hold Disclosure: Held
