i sold out yesterday after seeing how the market reacted to BLR's 46Mlb JORC!!! was not good at all.... very scary.
IMO WHE is still worth way more, but i wasnt prepared to let a winning trade turn into a losing one, so unfortunately had to bail. with my entry at $1.75 i didnt think it would come back this low.
the money flow chart still shows net buying of approx $8M since mid june. today's (and the last 1-2 week action just shows what a lack of buyers can do, and how few it takes to actually push the price down in these conditions.
the market giveth, and the market taketh away.
lessons learnt for me here:
1. should have had a trailing sell 2. dont be scared to pay tax
i fully planned to hold WHE until 08 for CGT discount based on my own reasearch of the share and i was confident it wouldnt go back below $3. i expected $4.50 by end of year, and it might still happen, but it's going lower first.
we can each only make our best predictions. but i got it wrong here. should have sold with the trailing sell, and next time, i will have one....
and damn i was determined not to be pushed out of this, but in hindsight i am happy i sold around $2.50, but still annoyed i didnt sell at least at $3.50 :(
the dust will settle.
SO4 Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
