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New levels for Simmers

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parc
New Contributor
6th Aug 07 Need decent news from the company Heading towards next support level R4.50 Nothing stopping it. Starts the day at previous & rapidly drops setting the new low rising slightly by end of trade. 7% drop today.
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32 REPLIES 32
Not applicable
Shed a little tear cashing in my remaining simmers shares today.....oh well still been a good run.
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Valued Contributor
40% off the high of just 6 weeks ago. Ouch.
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Frequent Contributor
But why is it dropping so much? Are you guys selling or holding? I think it's more panic selling
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Valued Contributor
me? Neither, never owned SIM so merely of passing interest.
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Frequent Contributor
I`m still holding, even at loss, the drop appears to be people selling thier speculation stocks. As long as thier is a high gold and uranium price i see no reason to sell.
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Super Contributor
Sorry to say this but a 40% drop goes a little beyond panic selling. Don't hope for the bounce just get out and walk away with your clothes on while there are still buyers IMO
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Frequent Contributor
Im with Jacques on this one
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Super Contributor
I'm gonna miss you bro (and Jarques)
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Highlighted
Super Contributor
About that exit stratergy CE.
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Super Contributor
Yip J, although I am prepared to sit with this one for the next 3 years plus. But...it is a bit of a bummer to see your share loosing R38k value in a short time.
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WBuffet
Contributor
Its been said that Simmers is a Speculator's punt!
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Super Contributor
SO why sit with it. If you had a trailing stop loss you out with 20K extra in your pocket and buy it back later, that is the whole point as you have now compounded your gains. So you buy it for 4, sell it at 7 buy it back at 4 alowing you to buy 56% more stock thereby increasing your divs and your capital growth.
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Not applicable
Topping it up HAR out with crap resalts more bad news for gold companies
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Super Contributor
CE Not to be on your case or anything but why do you like SIM but hate GFI surley as a gold miner GFI has better fundamentals.
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Frequent Contributor
John, how do you know when its a good time to buy back? 600 looked good - then that fell. Then 550 looked good ... then 500 looked good... Often it falls to one of these levels, bounces then falls even futher. In your opinion is R4 where you would be buying?
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Not applicable
9% down ... seen it all today !
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Super Contributor
Make that 12%. HAR in some deep [email protected] and Bernard to leave company. is ticketssss....
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Super Contributor
I dont buy Gold companies perriod. they dont pay divs they are in a decling industry and the cost are rising the return on capital is bad and the managment in many cases has failed to deliver. But in term of the stratergy it does not matter if it 5/4/3 rand as long as the fundamentals are great like SAB for eg. and you buy it back for less than it cost you to hold. if you have compounded your money you have done well. and if it continues to fall you just exit again untill the next levels are met.
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Super Contributor
Bernard, ol' school mate of mine, don't think it is management in the mining business, it's the business. That is why IMO we gonna see hectic gold prices coming. Time to stock up on them Kruger Rands....
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