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Shall I hold on?

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BAP
Regular Contributor
Taking a beating on a few long futures that went right through my stop loss! Where are the Wez optimists? Shall I hang in there?
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16 REPLIES 16
richardw
Super Contributor
in there...in there...in there...

"Hello?"
"hello...hello...hello..."
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swordfish
Frequent Contributor
did you not had a pre-determine exit strategy on how to protect your capital before taking on this trade? your first coal is to protect your capital, you can ride it out if you have adequate capital or maybe lighten up, sell half of WEZ.
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Wizard
Super Contributor
Maybe next month...
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fng
Contributor
What next month? Then it will start ot recover only then? crumbs then i must get out now too... This has been quite a pull back, and plat price keeps dropping..
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MehmoodHaffejee
Frequent Contributor
It's difficult to find a green arrow in the midst of the sea of red. It's not just WEZ that has been hit today; other shares are also taking a pounding. Your decision to hold on, as was rightly said, depends on your exit strategy. Good luck !!!
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fng
Contributor
How much further is this gonna fall?
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Shard
Super Contributor
When it comes to Futures, "should i hang in" there is not a question you should be asking yourself or any of the loud mouths on this forum. You'll just get abuse from the ones that know what they're doing and a load of noise from the one's that dont. Pull back was always expected, it will have another run if this "recovery market condition" continues, but can you service your margin calls until such time.
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fng
Contributor
Thanks, well thats exactly it, though how much more of a pullback is there gonna be? to know wether to just cut the losses now or not. O well ....
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barry_1
Super Contributor
Watch the platinum price....There should be minor resistance $1186 if it falls through that level then major resistance will be around IN MY OPINION ONLY $1152. At the moment its hovering around $1200 .Its three times failed to go above $1290 since the recovery....During the first phase of recovery the platinum price drives the share prices.All platinum shares go up,good ,bad and indifferent....during the second phase only those with immediate potential go up as the platinum price then starts to stabilise....In my opinion only the second phase will be reached when the platinum price achieves levels of around $1500.
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fng
Contributor
Thanks for that, explains alot. Cheers
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Shard
Super Contributor
If answered this I'd be one of the people making the noise. To give my opionion based purely on the graph and my mate that runs a value portfolio punting it. Its nearing the middle of the bollingers, still quite overbought but its broken above its 200 day MVA so it can sustain being overbought for a while. Fib shows next stop is back at about 192. But then theres my mate who puts the value at about 550 - my personal moving average cross-over is almost confirming this this but not quite. Use it, Lose it, not making any calls, just what I can see.
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BAP
Regular Contributor
Thx everyone. I've been paying SBank too much on "exiting strategies" only to see the price rise soon after hitting my stop losses. In a previous, well-debated, thread many forumites agreed with me that for quality shares in a bearish market, hopefully hovering near the bottoms, it may be better to ride out losses or even add to portfolios at lower prices than to set stop losses and jump in and out all the time. But then - is WEZ a quality share??
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_nova
Super Contributor
Jislaaik! I don't know how many times I've said this. If you want to trade, go find a more liquid and predictable counter, like AMS or such. Remember that WEZ is not yet in production and WILL NOT behave like other PT miners. To try and predict short term moves on this share is like trying to trade the ZAR... pure luck. I absolutely agree with a previous post here that valuation for WEZ is somewhere above 500c since the conclusion of the recent deals. But that doesn't mean it will go there yet. I predicted a pullback and it happened. I'm just surprised it hasn't already gone below 200c as that's what's neccessary for a nice, clean 50% fibo retrace. At some point sooner or later WEZ will decisively break through 400c and then it won't look back. It will range between 400c and 500c for a while and if any good news comes out it will rocket through 500c and stay there. When production comes online in a couple years time, then it's 1150c as a base and the sky's the limit. The secret of WEZ is it's management team. Mike Solomon and his team are just about the best in the business and Mike has free reign right from the start to set up production the way it should be done, and not the inefficient ways some of the other big names operate. Anyone who has actually taken the time to read through the resolutions to be passed on 26 Jun will know this. Anyway, for the gamblers out there? watch WEZ on Fri 26 Jun and Mon 29 Jun as things could get a little heated up and volatility will probably rule. As a trader I don't trade this one, I buy at the right prices and keep for the long term. WEZ is way undervalued under 400c, but then, that is also relative to the PT price and market sentiment. OMO. Go read the SENS and read the resolutions to be passed on 26 Jun if you want to understand how this share will behave
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theyoungster
Super Contributor
hey nova you made some very good points, whats your technical opinion on MTX and fundamental lots of people punting this on i've aquired some see its struggling under the cationary announcement
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_nova
Super Contributor
sorry youngster, I don't even look at MTX. Too many foreigners on the board (and we all know what the yanks, euro's and brits did to the financial system neh?) and that puts me right off this share. I will only look at shares where the bossman is a local miner's miner and his team at least have some years of experience in local conditions. That said, I would say that the only thing about MTX that should concern you is the copper and gold price since 90% of their operating income is derived from these metals. The other point to consider is that they mostly operate outside SA, and that has it's own 'baksheesh' implications. I personally will not invest in any company that is forced to operate in the ultra corrupt conditions offered by the rest of 'enlightened' africa, not that our own conditions don't prescribe to the enrich-the-few-fat-one's-who-think-they-are-in-charge either...
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Mr_S
Super Contributor
Nova, im curious to know how you came to the assumption that once production starts the share will have a base of R11.50? Im a firm beleiver in this stock for the long term, and have been adding to my positions, but im not sure about the stock price after production. Please educate me
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