one large holder selling up...?

Looks to me like a largish shareholder has just had enough of the gyrations in the Petsec share price and has decided to bail out and go searching for riches elsewhere.

There is a new book out by a guy called Panzner on how to deal with the different expectations investors now have in a market where computer jockeys anguish over hourly movements in share prices. May help explain some of the actions of traders and investors in these new market times. Panzner explains that overtrading has now become a market phenomena, and often by people who don't really know why they are trading a particularly counter.

As a large shareholder in Petsec with 440,000 shares I can sympathise with those who hold even more and can't get out when they want to without slamming down the market. I can also appreciate the mental anguish that comes with what you think is the stupidity of others in not being able to see the real value of the stocks you hold. In today's market disappointments hammer stocks good news hardly moves them.

The trick is reviewing constantly why you are in a particular stock and making sure the reasons you bought are still valid. If you don't know why you bought a stock then you get what you deserve in the market.

I have looked around amongst the oilers to try to find a better opportunity in the short to medium term but frankly can't find any. I have confidence in the Petsec management am grateful at their willingness to explain themselves to shareholders and can see nothing but upside for natural gas prices driven by the growing insatiable demand for electric power (natural gas is now the fuel of choice for new plants in the US)

But in the end everyone has to make their own decisions and if you are a PSA shareholder and days like last Tuesday are too hard to take then better you look elsewhere because there is likely to more days like that on the wayto $5.00!!!!!!!

Be nice if share prices went up in a straight line but they don't. The clever ones can trade the zigs and zags but I for one am not that clever, I have tried and failed dismally, so I would rather be in for the long haul