pacific- for whats its worth,i think many on the asx 200 have overshot the mark,they are hope prices but the general trend is unilateral basically down but on thin spreads,i looked all day but no margins ,so in the end i bought mof back,a big churn of about 140k for 1k over the past week.
anyway while i have similar fears especially where rogue hedges are concerned;they cost me a house, i will be staying in as i believe holding is a better strategy i only trade slices not my holding,to be blunt 10-15% i will trade,if i doubted i would dump and look to buy at lower prices,as painfull as the slow drawdown is, you wont beat the jump,but that is gambling. i believe we are currently under a heavy hedge play,look at the 10mill bid they reduce the bid now as increases are treated as new orders and move to the end of the que.
4 times lately i have moved into the que for after hours auction and succeeded on asks,only sorry i didnt stick with my call today and leave the bid in at 20.5,instead i bought about 350pm at 21.5.
its your call, and i know the pain its the theory you have to run with,ask george soros the wall of worry,who would trust an analyst,dyor
MOF Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
