" There's a heap more downside." Posted by Patong when the share...

" There's a heap more downside." Posted by Patong when the share price was 37 cents.

This post negated your earlier post, targeting 35 cents. You cannot have it both ways. Your "heap more downside" did not last one hour. The price fell 1.5 cents which was where I indicated that any further downside from 37 cents was a bargain buy.

You may own heaps more than I, but I am significantly older than you are. I retired relatively young, 33 years ago & have been living off my investments ever since.

You may not have experienced the 1987 stock market crash & I will relate it to the futures market. The market fell nearly 17% in early October then it fell a further 25% overnight (SPI closed exactly 2000, opened next morning 1500). In total the SPI finished down 56% from its high to 1054.

I was aware the crash was coming but had sold my company & was paid mostly in shares. I was asked to not sell any of the shares for 12 months. Ten days before the 12 months was up the crash occurred. My shares that were over $3.50 before the crash, went as low as 50 cents. I luckily got out at $1.50.

On the night of the crash, I had sold 7 put options & 7 call options @ $100 per point. I was also 7 contracts short & protected the downside which was $350,000 the next morning. I bailed out a business partner to the tune of $99,000 & still have not been reimbursed. That was a lot of money in 1987.

I assume you were not affected by the 1987 crash.