DC1 I saw a post that was great which said people only buy for...

DC1 I saw a post that was great which said people only buy for one reason that is to make money but they sell for many reasons - need the cash urgently , see a dark issue , have a system that always stop losses, or sees another opportunity that presents a better opportunity.

Whatever the reason the seller came into the market today to get rid of the shares it did not look like they wanted to manage anything they just wanted out maximise their net proceeds they put it out there that they had a huge overhang and got what they deserved in the circumstances in my opinion.

They will probably chalk this up as a bad investment ( assuming they bought in the 37c placement)

In reality many will look at the unrealised losses tonight and probably do the calculations - at these levels I am not sure who wont be underwater - even the MD paid more the other day. It is part of the risk you take when you invest in an illiquid stock. It does not matter how you value it - it has limited buyers and the traders steer clear as the sellers are as fickle as buyers - This stock has proved to me that there are either too many sellers or two many buyers but seldom in balance.

To think that its this low is to view the results as bad as that of 2012 where the second half were not good - they restructured and put in place measures to get it fixed - In my opinion they would have had to had a profit warning by now as we are in month 12 - By now such a vast move from guidance would have been noted.

So personally its June madness once again. Last year the stock FKP was traded down in June to around the $1.04 and in November last year it was around $1.85 - the results were in line with expectations but people had a concern that they would have to repay a convertible note - they did a CR and the price shot way up above that price once it was clear that they had solved the gearing - Now they trade around $2.00 and the next hurdle will be when they can return to reasonable distributions. They will then climb closer to the NAV.

I expect this stock to be under pressure but once we are over June then people will look to the full year results. If those are reasonable than I expect them to climb back towards the 37 cents.

I think that June will present opportunities - whether this will be the biggest or the prices even lower than today - who knows - It is one to watch.

maybe tomorrow we will have another 350000 to sell and starting a whole 1.5 cents lower.