Thanks Juanamigo for starting the thread and for your wise advices.
However, as a stupid investor who got caught heap in this stock, I am still looking to learn from my expensive lesson and I can't really see how one could have avoided FGE before its first TH? I do know little bit about reading financial statements and did look at FGE fundamental, and all things were okay to me. And not only to me, but to BlackRock as well (one can see it from FGE announcements lodged to the ASX about BlackRock) - they started accumulating FGE from 3/9/2013. Til 4/11/2013 when Forge came to the first TH, BlackRock had accumulated about 3.6M worth of >700K shares averaged $5.05 a share.
When it came out of the TH, everybody expected a huge fall so lots of people cancelled using stop-loss and decided to average it down. BlackRock did the same, except they managed to average down their holding to about $1.63 a share and then managed to dump their holding at $1.75 later on when someone obviously pumped the stock up to $1.86. Silly me at the same time thinking that "wow, there are still a lot of people believing in FGE stock" and naively waiting for the share to go above $2 to break even. Only if I could have learnt to recognise a pump-and-dump trick so I could have exited right there on the first trading day of the new year!!!
FGE Price at posting:
91.5¢ Sentiment: None Disclosure: Held
