I have learned the hard way with other coys that 'buy the...

I have learned the hard way with other coys that 'buy the rumour, sell the fact' is ALWAYS what happens UNLESS the FACT puts money in the coy's pockets ASAP. Any other news or event just drives speculation in the sp.

Like many, I had been anticipating the on-market buying by our US ADR people to drive the price up. When the ann came out that we were listing and there was no '10 days of buying' mentioned or factored in the timeline, I realised it had happened already or was going to happen on Fri and Mon- which I think it pretty much did.

As much as I have always rooted for PRR to do well in the long term, it was too obvious an 'event' moment in our trading history not to trade short term and sell out on Monday at 27c.

Why did I do that, right before the listing, after holding for 3 years? I was scared of course I might be making a mistake but my reasons were thus:

- speculating had driven up the price and I was in the black. As they say, you don't go broke taking a profit. A lot of little, well thought out profit taking moments can get you richer faster than holding out for that one big gusher.
- the recent history with DNDN I think has spooked the market for PRR, rightly or wrongly
- Phase IIb results have taken forever to get here and are still months away
- Dubai sales will hopefully be good but it will still be some time before CVac is manufactured, exported, and sold in amounts significant to make a difference to the PRR bottom line.

I think the short-term traders, even ones like me who really like PRR as a company, have led the sp higher and will now take profits as trading volumes in the US languish. Short term pumps and dumps happen all the time. It doesn't mean there is anything wrong with the company necessarily (and certainly not with PRR as far as we know), it just means the pot is coming off the boil. The sp will steady around some old support/ resistance level as it always does as we wait for the next great bit of news. The haters may hate me but this is JMHO- I think 14.5-18c is where we are headed short term.

I could be wrong of course. The traders in the US could wake up and smell the roses but sadly I think most big players will wait for results and jump on board then for a bit of action.

Just sharing my thoughts for what they are worth. I'm out for now but watching it daily. Good luck to all!!

Peace