Transtar, Jimji , Owngoal,
Sorry to read your opinion and that some have lost on HDR. I have lost at times too, on HIH & PAS and the likes. However, as my portfolio is very broad based, overall it is not as bad as it could be, given the disasters with some shares.
HDR is very speculative - most price hikes are on news of discovery and not on production. You have to decide for yourself how much you can risk.
If averse to high risk, stick with some safer plays in oil, like TAP which have proven reserves, good management, and making profit. This is no means any guarantee for what will happen later on but management wise, one could say that they are safer than most. I have a few TAP bought at $1.00.
The key is management.
PAS - who did the hedging ?? MIM - who is responsible for $275 million currency hedging loss in last financial year? WMT ?? and list goes on.
Are the directors of these companies on dole after their pathetic decisions ?
Some on this forum recommend WPL. I have been burnt in WPL - bought call options when everyone was predicting a very rosy picture. After seven months I was $2,500 poorer. I do not touch WPL anymore - no matter how good the news.
Reason is that I feel the management is not suitable to my style of trading.
If you are trading for the short term, then get out when share trends down. No reason to buy at $1.04 and hold till 0.44. An exit at 0.84C would still be a loss but less so.
Agree with you fully re. announcements on HDR; can get very difficult for day traders without inside info.
I intend to shed some of the holding after the current drilling is over - irrespective of the result. The reason is that I bought as much as my portfolio will allow and it is never a good idea to buy to this limit. Gives no room to play - only one to go ie., sell.
Good luck, we are all in the same boat on this one. It is an exciting play and worth a shot !
HDR
hardman resources limited
