In my opinion, try not to be too influenced by what the market does. All you need to do is think very deeply - considering what you know as fact - what is the likelihood of the company, first remaining in business and second stabilise to what may be a long road to recover (with a few spikes along the way). If you are convinced there is no way back, or simply feel the risk of further decline is beyond comfort level, then sell may be appropriate.
I'm fairly certain it will be very volatile. With speculators looking at picking a bottom and picking up for a day trade. I expect to see a wild swing, purely guesswork but I see an open of 10c with a quick decline to 8c down 47% - test the low of a few weeks back - then a bounce back to 11c with a mix of long-termers and speculators jumping on it, then a bout of further selling to finish at 7c on the day. Decision as I see:
1. sell order at open and forget Newsat
2. wait for half an hour and then sell and forget
2. sell some or all at open with intent to buy back in at lower price - still believe long term so work the trade
3. go fishing and don't look - keeping the stock come what may
4. don't risk timing a 'sell and buy-back' but buy more when you sense the mornings selling has stopped.
I think the primary source of volatility will be point 2 above from heavyweight investors who can force the issue to buy back in lower and/or increase holding at lower price. It's worth keeping in mind at a SP of 15c and no buyers just one person with a small $50k investment can put a 330,000 sell order in so multiply that by a few others who just want out and there will be multi-million sell orders at market.
Important to be clear in mind what you want to do before open on Monday and don't change track just because the screen says down 50% or more. I haven't decided yet but I'm leaning towards a little of point 4.
The other consideration is, if there is a pre-market annoucment that may give reason to change your mind - but then again it is very important to be clear why before final decision.
NWT Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
