Most short term traders will lose. Some do well in bull markets and get cocky and will trade loosely, but when things go bad they end up losing their profits anyway. They get stressed and often realise they need an income Traders often place a lot of emphasis on money in their life and often when their portfolio or trades get smashed they will experience grief. Some get stuck in one or more of these stages.
Often traders that get on HC and go to many stocks and downramp those stocks that they have disclosed they are not holding; are either being manipulative or stuck in stage 2 or 4. They are easy to pick.
Prior to the past few weeks, the longest period I had held CVI for was 7 days. I had done very well from it.
Recently I had bought into it in stages averaging 9.1c for 1.1m shares before the refinery announcement. I was pissed off big time when the sell down happened after that. I invested knowing that the 1.1b funding might fall through.
We had holders complaining that with the funding CVI would be diluted and we would never see the highs that were expected. I do believe that if this financial crisis didn't occur the 1.1b would have happened. People can give their own opinion on that but it will only be an opinion.
Trading in and out of this recently has been stressful when stop losses hit but I feel lucky to be still holding my 1.1m for an average price of around 5c.
I suspected when the sell down into the mid 4's was occurring that the funding might not be happening(financial crisis happening - you'd have to expect it). I hedged my bets and sold half my holding which I have reinvested this afternoon.
I have accepted where CVI is at present and I'm not blaming MS for me sitting on a loss. When deals are signed off, we will hear about them.
I made some very easy money on CFE recently. I think smart traders would have known about that one.
What I saw today with CVI, I suspect confidently as accumulation.
I am pro-refinery and will look forward to hearing what happens. Either way if it happens or not, CVI is very cheap at this present time.
I will hold this one now for 12 months +. By then you will get your questions answered and if you chose to - your chance to invest in it, albeit at a much higher price!
CVI Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held