We all have a vested interest - be it to go long or short. Having said that there are 3 posters (who shall remain nameless) who are very negative but refuse to say why - and back up the negativity with any facts.
You are correct re the barefoot investors recommendation. Very conservative with a mum and dad approach. They were recommending a buy under a dollar. I started to follow the stock when it got to 90c and bought in at 80c, bought some more at 74c to have an average hold at 77c. Thirty years in this game has taught me you never can get the bottom or sell at the top. The name of the game - obviously - is to sell at a higher price than you buy. Do that most of the time - regardless of the margin - and you will always be in front.
More than happy to hold and see what happens. I assume the dividend will be drastically cut but I am not in this stock for the dividend. I believe the worst is behind it - 2015/16 will be very poor but that has been built into the share price. I clearly see this as a recovery stock and given the explosion that is starting to happen in civil works I see DCG well placed to take advantage of this.
If the share price gets ahead of itself (about $1.00 in my view) I will seriously consider selling (especially if this happens in the next month or so). If it falls back to 77c on heavy volume I will also consider pulling the pin.
I am very twitchy on the ASX. I dont see a lot of stock undervalued - especially given the bull run of the last two weeks. I have concerns with the major banks (more global than domestic) and the major mining houses. So it does not leave much. I am more than 50% cash now in super and DCG is only one of six stocks I own (not including some real small penny stuff I trade). Not a huge risk taker by nature and I see DCG at its current price (lets say 80c) as pretty much de risked provided they have been honest with everyone (which I assume they have).
Anyway time will tell - always does.
DCG Price at posting:
84.0¢ Sentiment: Hold Disclosure: Held
(20min delay)