So, I bought in years ago, some for over 2 bucks when we were going into processing plants and all that Iggy stuff.
When it ended up at 2 cents, my average price was 80 something cents. Sitting on big losses. Investing 101- protect your capital. I failed that unit!!!
Anyway, then it woke up....? I ploughed in at 8 cents because something was obviously afoot. AS Daryl Guppy says, if everyone's racing in the same direction, I'll join them until they stop.
Average price was now 28c. They were in my wife's name. She had no capital losses [unlike myself].
So, I sold everything at 30 something, she got a $5000 profit. YAY!
Then I rebought in my name. A number of times. Picked up a few in dips etc. Very cautious, too old to stuff up again [remember that GFC.... sheeeet].
Post consolidation I'm in for $2.071. GXY has made my portfolio green [and my pastures]. But some of those pullbacks were nerve wracking....
Not a big holding but big enough to be breathing easy. Fingers crossed.
GXY Price at posting:
$4.42 Sentiment: Hold Disclosure: Held
