Hey StumpyI tend to agree, MEL won't generally move with overall...

Hey Stumpy

I tend to agree, MEL won't generally move with overall market changes (except when they are down :) ). MEL will be driven by specific factors unique to the company as you outlined.

I am down (of course) with MEL at the moment, obviously many $000's. Notwithstanding, I am very relaxed about this.

For me, I have a few rules which I now stick by;

- invest small to medium amounts regularly
- ignore the share price as long as fundamental issues don't
change
- No more than 50% of funds in one share
- No more than 10% of gross wealth in market at any one time
- Be patient
- Don't borrow for shares
- No over-diversification
- Patience and don't react to factors that are transitory in
nature

Over at the ASX General forum there was a post from 'Voltaire ' that I think is on the mark:

"Just a little perspective from someone who has traded for over 30 years.

After the 1987 top, the market here traded sideways till Nov 1992.

About 62 months.

These bull markets that crash have to be absorbed.

From the 2007 top you could say Jan 2013 is similar time.

I actually think it is probably July 2013 for us and Oct 2014 fro the US.

You need to understand generational change and entrapment in all this.

Markets exist only to reward the wealthy and rob the poor.

Once you understand that then you have taken a huge step.

Investing is not about equal opportunity. It never has been.

The purpose of a bear market is to "wear out" the little man.

When he quits for life, THEN a bull market can begin.

Late in the bull market, the aim is to pull in the mums and dads and fleece them of their savings before collapsing the market.

Its a pretty simple formula, but since generational memory is weak it continues to work.

So I think we are closer to the end of the bear than the start but lets wear out a few more before we rip it. "

Back to me:)

MEL requires patience, a relative lack of emotion & more patience. The next few months are the time for me to keep backing up the truck and filling the glove-box :). Have been doing this for quite a few months now and will continue.

all the very best