Hi KennethG ..
From someone who plays a bit of Alice in Wonderland around here
More than being a gung ho trader, and whose long term, largish holding in PLS from average 22c was sold to offset a very large amount of losses accrued over several years (once I realised how substantial the ‘red’ was ) and - along with just a couple of months of more um … ‘applied trading’ than usual - turned the tables to such a degree it confused my accountant rather a lot.
So I love PLS but ever since that lesson in dumping a favourite I’ve never felt as attached as in the ‘old days’.
And I am not a member of any current ‘chat club’ here either .
CURRENT:
I had bought in to PLS recently with a view to trying to catch a bounce .
… ended up with four buys and no sells and the lowest of those buys was $2.96 and $2.97 -
Today I let go of a quarter of this ‘brief’ holding at $2.12 and was surprised the price dropped from that point .
Another quarter is marked for sale around the same level .
The rest?
Essentially I would love to collect a large long term holding again, but I don’t think now is the time to start accumulating .
By that I mean I would prefer to buy large at $2.30 a share once there are genuine indications the current downwards trend has turned .
I am no technical analyst but I don’t think there is any genuine confirmation at this point that the tide HAS turned!
(And in regards all the broker stories out there about how they are buying or selling or accumulating I don’t believe these are published with an altruistic view to helping others!)
So - for me - a few shares currently lightly held, and some sold around break even, and I’m waiting to see a huge positive announcement from the company , or a definite trend turn.
- This on the basis that once it does turn there will be plenty of upside for watchers, and I don't have enough spare cash liberated right now to just invest and hold.
good luck to all the genuine folk out there
Cheers
(20min delay)