agree that if you held all the way down you would be feeling the pain. Sitting still in a falling stock like that is never a smart move though. Most savy traders/investors will at least have sold, sat out for a while, and then bought back at lower prices averaging their price down. Sometimes even making a profit on some trades. I know I did, sitting with an average of about 35c now.
As far as the short term SP performance, the Petrobras deal aint officially accross the line until FIRB. I am not expecting a rocket ship north, but would expect growth over the many months right up until Spud after FIRB. Other Farm-in potential coming as well.
Also look around at other ASX stocks today - no one is breaking any records. The big gains were yesterday, with people now waiting today to see if DOW and Euro consolidate gains and go up again. As i said in the last post dont confuse current market volatility with short term MEO performance.
IMO its all about perspective and constant re-evaluation. What happened last year doesn't mean it will repeat again. Most stocks go through periods where they come off sharply only to climb back up again. Understanding this saves you from dissappointment and unrealistic expections.
Anyway I am sure you know all this. Good luck with your holdings.
Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.
Mark Twain 1835-1910
MEO Price at posting:
34.5¢ Sentiment: LT Buy Disclosure: Held
