is it a hold or a sell?, page-9

I just had a read through the AGM address and I read it as a positive rather than a negative.

Yes it does highlight that Minelab and Minetec sales are shaky due to the volatility of the sector, however it is not all bad and they still talk about profit.

I feel the sudden drop in price yesterday was a knee jerk reaction and I will be using this opportunity to top up rather than get out, this is still a $2 share and will bounce back.

I really don't care much for charts or even understand bollingers and that mumbo jumbo, although I am sure it can be useful, I rather look at the facts and research the market.

I spent all day yesterday in the air, so unfortunately I missed the AGM report and my contingent order sold out on me at about $1.85 and I took a very minor loss, however I will be picking them back up this morning and hopefully at about $1.75 as we should see a few more panic sells.

Had I have been watching I would have sold around the $2 mark and now be watching for a new entry point.

I am sure when you look back at trading days after AGM reports are released you would see a trend like the one we had yesterday, this I think largely due to traders not fully digesting reports the panic sells followed by market maker shakeups, contingent sells such as mine and then more panic selling.

I have not fully digested all of yesterday's facts as I am writhing this once again on a plane, but how often do you see a series of sells or broker to broker trades for 1 to 20 shares, only intended to drive down prices so to buy back cheap! Look out for this if you are new to trading because it happens regularly, especially on low volume stocks.

I do urge everyone to do your own research and please only use the views and opinions I post here as a guid and idea to where you should look to form that of your own. I am the first to admit I sometimes get it wrong, but it does not out way the ones I get right.

Also if you are a day trader then I would not pay much to any attention to my posts, as I am looking only for the long term growth and don't always predict the best entry point. Although quite a few have had some recent spikes in growth and I may take profit and buy back after they drop again.

I am sure most of you reading would already know all of these things but just incase I will add. There is much more to researching a share than charts, financials, reports and announcements. I regularly pick up the phone and make a call, research competitors, customers and clients. Watch what Directors are don't in regard to buys and sells, look are sector moves and competitor movement. These can all influence price without any cause for concern to a long term investment however can be used to ones advantage for a quick sell high buy low if you are aware of it, and you still believe you have a strong stock.

I spoke with someone from Codan yesterday and amongst other things they reminded me that "they still have a few years left in their UN contract, and we can confirm this by looking back through old reports." Just something else to keep in mind.

AJW