God it feels good to be out of SRF at almost breakeven! Luckily I've traded well, averaged down and enjoyed the recent buoyancy, so the damage hasn't been too bad. I even had buy orders in at 18c - so I was planning for much worse.
I can see this drifting back to 25c in the coming few weeks. I can also see the new CEO unearthing another skeleton or two. I see the short term (3 months) as a period of sideways trading between 25 and 40c. I see the longer term as a gradual drift towards 60c - 80c.
Either way, I'll probably be buying back in again below 30c.
This is starting to remind me a lot of SHJ (Shine Corporate), which suffered a lot due to SGH's incompetency, however due to having minimal debt, the company has comeback very strong. I think SRF will get through this comfortably, just need to get the day traders out of the way.
SRF Price at posting:
33.0¢ Sentiment: Buy Disclosure: Not Held
