.....is looking at the contract note in my file for the sale of 1 million shares at 1p each.
I bought in at 0.8p/share with the intention of sticking the shares in my bottom drawer for a very long time.
Subsequently changed my mind and decided that a better strategy would be to wait for some action to start and then get in bigger at the inevitable placing/fund raising without which the company simply cannot get its plans moving - whatever they are. And sold my holding thinking that the shares might easily drift and that I could get back in easily.
And then missed the jump when TC took the chair
step 1) And then thought the SP had bubbled and would deflate.
repeat step 1 at least 50 times
------------------------------
crazy thing is that the elevated SP is now, IMHO, an obstacle to the company moving forward. they need to raise cash but they cannot possibly do so at anything like the current SP.
There will be tears.
But the lesson is that markets are not always rational. We need to accept that fact and exploit it rather than bemoan it.
Parkmead now getting a good kicking as it most surely deserves down 13% to 27.8 as I write. I'm sure there will be quite a stampede to get out of this stock once the short covering rally runs out of steam. I'm short at an average of 28 so I'm just in the money here but I expect it to be back below 15 by mid Jan. Good luck to all but let's not forget this is still on a stupid valution keep selling!
Not sure it will get as low as 3p again but it wouldn't suprise me if they raised money under 10p. I think 8p might be a stretch to raise a big chunk of change at but they could probably raise a smaller ammount a bit higher.
As I wrote here yesterday it seems that the cracks were developing yesterday afternoon and after the 13% drop today it must now be curtains.
.gif)
