So I see some Slater and Gordon shares are on the bottom around $2.6 after a 100:1 consolidation. There are more losses to come here.
Look at the 3-year high on the charts ....$860 odd dollars. It is unbelievable what happened there, but I have seen a couple of other companies in the last two week with Mcaps around half a billion dollars and they are either in suspension or had a major haircut due to news reports of whatever.
Don't think for a minute that investing in a company with a large market cap is safe, because it is not.
I am more than happy throwing a few thousand into a speccie stock less than $10M mcap, because I know they are going to fail, but the ones that make it cover those losses and more.
Whilst I am working I can weather the rollercoaster ride, but come retirement I am going to need steady and dependable stocks. How boring life will be...
I can't help thinking how this mock catastrophe in the US is all stage managed to shake weak holders out of their positions, because we are at the start of a major bull market. Fear of higher interest rates compounded by the failure to agree on the debt ceiling... the timing is just too convenient for my senses.
All the January gains have been lost and nothing can be done about that, but so far I have sold very little this year.
This month I bought into or topped up on AVD, JKA, BOE, SRZ and VPC which all have the potential to do very well.
