OK, I just want to set the record straight here for people who haven't got a clue what's being talked about re "Jason", "RS", and "PPP", and to alleviate the criticism all three have been copping for the past few days.
For a start, PPP (on this MRD forum at least) refers to "Port Phillip Publishing" and not the ASX stock "Pan Pacific Petroleum". Jason is Jason Stevenson and he writes a publication for PPP called "Resource Speculator". This is a paid subscription (to which I subscribe, along with two other paid financial publications from the company).
It is a violation of copyright to post any of PPP's paid subscription material on HotCopper (or any public forum, for that matter), and although I will plead guilty for posting a couple of quotes from Jason, nothing I have ever posted has in any way compromised his trust or been of a price-sensitive nature, and I would certainly never reveal any of his strategies, entries or stops (at least while a position is still open).
Because three of Jason's top picks (EYM, PNN and MRD) tanked almost simultaneously over the last week I, and many other subscribers, wrote some pretty furious and confronting emails to PPP, and to Jason in particular, and although I made a facetious comment on another thread about him now appearing to have fled the scene of the crime to live it up on vacation in Fiji (where he actually is at the moment), he acknowledged all the criticism by just yesterday sending out a pretty heartfelt 'emergency' newsletter to address the concerns of subscribers and to admit that it had taken its toll on him and that he was emotionally hurt by all of this, just as we all are.
I'm not going to go into detail with it all, but I'd just like to say that it gave me a sense of relief in a way, because I now know that PPP, RS and Jason had NOTHING to do with the collapse of the prices intentionally, and if a few insiders know what's going on out at the drilling field before us, isn't that something that pretty much happens in any company? I mean, someone else wrote in another thread, "They have these things called mobile phones and the internet nowadays" (or something like that), so of course word is going to leak out when something substantial happens. Jason could see it coming when many millions of shares started to be put on the market last week, and that's when he upped the stop-loss (which is public knowledge now), simply so that those of his subscribers who can't think for themselves would not lose more bucks than necessary.
We are all aware that we are investing in high-risk resource stocks, and we should be taking it in our stride when we lose one (or two, or three) 'gambles'. As long as we all maintain and adhere to our risk management principles, then really there should be no cause for complaint, as it is really our own decision in the end with whom we decide to invest.
For the record, I bought more MRD stock on the way down. I know what I'm getting myself into so I won't complain if it tanks further. However, if or when it finally does turn around and make a run for it, I'll certainly be shouting from the rooftops.
Cheers everyone... Good luck and I look forward to your comments on this thread.
John
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