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Getting hammered! Question for Simon.....

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Not applicable
African Dawn's business is solid, prospects good yet the market is hammering this share - I guess along with many other small caps! What does one do, as it looks to be going much lower, although with good prospects, directors buying, I'm finding it difficult to sell at such a low price - would hate to release on panic, even though I purchased at R4 in anticipation of the next results in March! What's your advice?
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15 REPLIES 15
Preston
Super Contributor
My dear fresh, thank you for your question. Usually if i am in a loss situation , i sell and take the loss but invest that money into a profit generating share. But in this market where it is diffult to make money..My suggestion will be to hold and forget about the share until a later date. I am remember about a saying a wise old guru once wrote on this forum "Do not eat yellow snow"
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Not applicable
LOL - thanks Preston. I've had so many stop losses triggered the past few months, which I've been happy with. Just can't be happy releasing these shares at these levels!
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SimonPB
Valued Contributor
fresh, I can't advise on a share and what I can say is maybe too late to help trhis time. But for future. before you anter any stocks or derivative know exactly when you will sell 9under what conditions) both profit or loss. And then stick to the rule you set.
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Not applicable
You certainly cannot advise on a particular share. That would be unethical and not wise from SFM to allow this. On 12.11.2007 however a certain Simon had a post which read as follows: DDT- Buy at current levels for a move to 950. Has DDT ever reached that magic figure since then? Hovering now around 750-800.
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SimonPB
Valued Contributor
patrik, indeed post as below;

Simon posted: 12 Nov 2007 17:43:34
Buy at current levels for a move to R9.50

point is it was not me, my handle on the forum is not simon, it is SimonPB(Standard Bank).
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asylum
Super Contributor
hmmmmmm patrick go hide in the corner now, and please dont try and put blame on anyone, what ever is posted on this forum is for you to use or not use but to try and pass the buck no, if you want concrete financial advice phone Alan Grey, dont look for it on this forum.
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topgun
Super Contributor
the market is merely testing your resolve....if you believed in the business model, management, and the future of the company at a higher price, why bail now???
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prof
Regular Contributor
just bau ght 10000 more is still believe in it paid 340. i am putting them away and not watching .il chec k in a month or so [if i can resist]
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Not applicable
Shame Prof... at least you and I will be the last men standing together! You previously mentioned advice from Stockpicker... any idea what are their qualifications though? Through your posts, it seems they are bullish! To be honest, when these penny stock newsletters recommend stocks, it's usually time to sell into the "fake" strength. OMO Topgun you are right - I believe strongly in the business model of ADW and their earnings to-date have proven their success. Have been holding on through this turmoil, in fact been buying more...! :( I'm definitely not selling at these levels.... hurts though!
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prof
Regular Contributor
im holding as well .there is no fundamental reason for the fall.i still find it hard to sleep at night as my holding was and i repeat was over a mil i dont have a choice and i actualy nee d the money nowas i am doing renivations to a building i own.so thats on hold
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ABuzz
Super Contributor
I bought the last time it took a drop down to 3,12 (I think), 22 Jan, and then sold out again at 4,13 the next day. I'm buying up again now and expect to make a similar profit, however I doubt it'll be that quick again. The directors are also speculating in their own shares, so why shouldn't the general public. And yes, medium to longer term I also believe this share will recover to a steady R5 - 6 and higher. So whether buying for short term speculation or longer term, this one will work for you. And to answer your question, I'd hang onto your lot at R 4,00
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Not applicable
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prof
Regular Contributor
moving up ,trading statement out soon mabe il sleepbetter tonight
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Not applicable
I don't know you at all Prof but you worrying me! You should never take out a position which affects your sleeping at night! Let's hope it runs from here... I still maintain it looked like a fund manager disposing over the past few days.
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prof
Regular Contributor
your right fresh but its just a term im using .the share was way overdone and it willrecover.fund managers are disposing of them as it is the easiest to trade on the altx exchange. i m sure its just about over and the share should trade soon @hopefully 4.5
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