when will this go up?, page-27

I am hoping they get there too. The market and future outlook looks bouyant. Rockwood is happy to spend $700m cash on Talison.

Stock selection is just one of the criteria for making money, though an important one. We all have the right to our opinions on this as long as we can justify it. Most importantly to ourselves so we can sleep at night.

Give a group of people the same amount of money on one or a number of stocks, there will be a wide range of performance. Some of you may know the Turtle Traders experiment. There are other things that come into play like money management, risk management, timing, discipline, sticking to a plan which can increase/decrease the chances of winning. It’s a skill game for some and not chance. Some people draw analogies between Investing and Poker on certain skills. Like when Kenny sings “you gotta know when to hold ‘em, and when to fold ‘em." Its very true, you go with your gut instinct on trades and if you are right, thats when you win.

For GXY am patiently accumulating and making use of averaging down, with timing and time in the market. It has been difficult for short termers to make a quid, as there have been frequent pullbacks,unless shorting but thats high risk and that seems better suited for HFTs. But depending on how you see it weakness may be buying opportunities. Historically on the charts these recoils have been followed by rebounds. I think we still have a way to go yet for the company to prove its operating viability to the market, (material sales/cashflow) but hopefully not too far away. If it does it should re-rate accordingly.