You have a point, Pinto - if we all bought and held ad...

You have a point, Pinto - if we all bought and held ad infinitum... but when you see the big multi-mill sells on downward swings I can't imagine that's LT (small) investors only thinking about grabbing a bigger holding further down. I don't have the risk appetite or ability to pull that off (by selling my entire holding). See this week's ann. Good, but not a cracker - only 20K ozs - and a nice boost to the SP. I'd hate to be out of FML when a cracker of an ann comes out - remember the 100+ gpt result from Perserverance last year?

And I've never sold into weakness. With the retrace from 8c, I've bought in the low 7s, mid 6s and low 5s. (As many here have, judging by the posts) If I was smarter I might have waited for the low 5s but I remember a poster here - long since faded away - who assured us all that he was getting in on the retrace back to the mid 3s. Maybe that will happen - 9mths later it hasn't - but I'd rather the risk of being in than out. I make my own valuations based on info I can gather and extropolate that into what I think a future SP might be and that determines my buying. ST gyrations only relieve the boredom and I can hold or buy on dips as I'm not leveraged.

So, I think while investors like us might put a cap on gains when we trade, we also provide the strength on the dips. (You could also argue that our "caps" make the big boys give up, which gives us the dips...)

I like your suggestions about what we (LTermers) do in the event of a big rise - a thought I think you started some time ago on another thread that sort of petered out. I agree that we have to be thinking about that now. What's the strategy in 3, 6, 12 mths time or at 10c, 15c, 20c? - because I think good things are almost upon us (and I don't just mean the April q'ly)

My only real concern is a currency/soverign debt crisis that forces a major sell off in all asset classes. We'll get hit then, too... but I'm betting it won't be for long as investors realise the only real currency left is the stuff being taken out of the ground by miners.

Sorry for rambling.

Cheers,

C12