Hi Jack. Congratulations on your SGH investments, buying at 24c is excellent.
Firstly, I don't consider myself a trader, I hate trading in this environment, which is not a level playing field and we are at a huge disadvantage. The High Frequency Traders/ Speculative Hedge Funds enjoy systemic advantages such as a) no commissions, b)split second trading advantage and can and do gazump you as soon as you put in an order an often continue that, c) ideal systemic conditions for collusion with other HFT/Funds,
(and given the culture in the banking,finance, trading industries is almost a certainty imo), given that they can settle their collusion trades amongst themselves in the 10 min after the official close. These discriminations should be against the law. I trade of necessity to invest in the medium to long term, and SGH is an excellent example imo.
Once I decide on a large parcel, I divide it into smaller parcels of 10,20,50000 each and can have 3 open positions on 2 accounts at the start. But when a large order of say 100,000 or 150,000 comes on and is within my target range, I try and grab it. Quite often such orders are immediately followed by a couple of similar orders. That's how I sold 2,750,000 in one day on 11/4, and bought them back over the next two days with a tiny profit. However generally you need patience, sometimes hours, to outlast the HFT/Funds.
I went all-in when I became convinced that AGH would not go under and when the price fell to mid twenties, which was less than half of my minimum price, I saw it as an exceptional opportunity.
I consider the market seriously undervalued, and had expected the SP to go to 70c after the syndicate announcement. It appears the HFT/ Trusts are dominating the trades right now and presumably are accumulating. Good luck with your trading.
SGH Price at posting:
40.5¢ Sentiment: Hold Disclosure: Held
