I am in the same boat as you where I have lost thousands. The only difference is that it is paper lost since I am still in. Like you, I ignore the stop loss since my initial decision to buy GDN was pure gamble and with GDN, trading rules does not apply due to its speculative nature.
The only sin that I committed was that I allowed myself to get suck in through averaging down and throw good money after bad, where I have now reach the point of no return. Compared to my total paper lost at the moment, the additional lost if the SP goes down to 4c is minimal. In return, if the SP goes back to say 8c then my paper lost will be substantially reduced.
You raised a valid point re loosing your confidence on the credibility of GDN’s projection through the “as good as it get” comment from RdB. Despite this, I still hold for 3 logical reasons. First, Cunningham backing of the Options. Second, in the GDN’s 25-Jun announcement, there seems to be more emphasis on Chimmey Rock and Ismay tests then BC. Hence though the “no show” of BC test is disappointing, it’s not the end of the world for me. Third, with the “as good as it get” comment, RdB has put his reputation on the line. If I put myself in his shoes, I would not make this kind of comment unless I have valid reasons to believe so.
For these reasons, I still hold and accumulate more, though I could be completely wrong and will ‘sink’ instead of ‘swim’.
Good luck to all.
GDN Price at posting:
10.8¢ Sentiment: Buy Disclosure: Held
