By the way, I didn't lost too much money in RIV, but did big loss in AED and INP, both are oil stocks with water pumped.
I held RIV when RIV was still above $8 in 2008.
Sold RIV at $9 to buy REY at 18c.
Sold REY at 10c to buy RIV around $2.50 (big falling of ASX coal stocks last October)
Sold RIV around $2.50 to buy MCC around $3.
Did sell half of MCC around $3.50 to buy back RIV at $1.70
Sold all holding of RIV to buy MCC when they were same price around $2.50.
Sold MCC from $3 to $6 to buy REY from 4.6c to 6c.
Beat the coal sector quite well before April when REY hit 11.5c.
But after that, I became the loser. REY dropped to 5c again (I always believe that it was GNM, the largest holder of REY to dumping REY in April and May to send a cheap offer) and all other coal stocks doubled their share price.
Bought 10000 shares of RES at 70c.
GNM did send a bid offer to REY last week, now REY is 10c, hit 13.5c last week.
Still lost 40% of all my investment. I enter ASX July 2007.
Cheers
RIV Price at posting:
$6.06 Sentiment: Buy Disclosure: Not Held
