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Wasa you don't really need to justify selling a few hundred thousand shares when you have 22m. I've got 100% of my stocks and shares isa in here now and if it wasn't such a low amount ££wise I would have the money diversified more - maybe have some invested cash generating abit of dividend income or into additional property other than my house and producing a passive income stream.
Incidentally there are at least two types of PI who will trade this with sentiment for at least two reasons I know of (ie I personally know some):
- there are PIs who pick a winning stock (i.e. they believe in HZM fundamentals, so limited downside long term, but very happy tot rade the range). They will absolutely trade wider market events - e.g. if there is a wider market drop just as happy to sell and buy back later on any drop - no drop - no problem - move to another favourite AIM winning stock
- there are PIs who for whatever their circumstances identify risk with the market situation and here external factors come into play like Covid. I had some nerves in March because Covid was playing with our business at the time. Never sold Horizonte but it would have been a normal thing to do at the time given wider context. Then came the bounce and a bit of govt support and back on an even keel.
I don't intentionally 'trade' a winning AIM share like Horizonte (though I have done this very successfully for several years historically on FTSE) for a couple of reasons:
- AIM seems to have a will of its own and I'm terrible at it when I try. Basically its as simple as - don't do something you're not good at. So you won't find me selling 3m in the hope I'll get them back cheaper in x hours,days,weeks later
- I am afraid of missing upside. I can't remember who (was it you Luke?) missed the Orion announcement by a few days. The day I try trading this will be the day we suspend pending a T/O for 40p.
So that's my two pence. Holding and holding strong and indeed, I've put longer term life goals (like buying a decently sized house in the country) on hold a few years to let this play out so I can hang onto my 23m shares. Because I'm really liking some of the estimates more experienced investors on this board and elsewhere are putting forward to what these beauties could be worth down the line. GLA
ElectricLion if it is any consolation for me it wasn't a derisk (I haven't really reduced my risk on Horizonte as I think I sold 1.4% of my previous holding) just a case of 'wanting in' elsewhere and having no cash at the moment. Kind of an advance on cash I expect to get through a house sale which might now have to be reinvested back into Horizonte at potentially higher prices, which is something I accepted when making the transfer. DJ's situation is different but I didn't need to derisk here personally or because I fear for Horizonte.
The market is the market though and fundamentals aside I agree with owlo, when the wider market is uncertain, and the company isn't publishing news, it will drift with wider sentiment. We believe we will have news in Q4 and that of course would be a gamechanger potentially, but if the news in Q4 is that there won't be material news in Q4 (a de facto delay) that probably wouldn't be well received with the market. At that point I'll be hoping my house sale goes through! GLA
the two chief rampers selling? whatever next.
FWIW I have 23363390 left minus a few I haven't accounted for through 2 bed&isa moves, so a few 10ks less shares than that in total. Yesterday I sold 329898 to be precise about it and have no intention of selling any further. I believe in the co short, medium, and long, and my stated aim was always production. If we see some of the estimates people have put forward post financing 20-30p, then I may be tempted to part with a few earlier but certainly not until then.
People have reaosns for buying and selling and true, for PIs, this can be event driven. DJ has his pub and livelihood and general risk awareness to think about and it's really normal - the whole market is sentiment driven and so much negative publicity about Covid it is hard not to get a bit depressed about it.
Ironic that the weak shareprice on Horizonte over the (recent) years has been down to II sellers of course. Normally they're a bit less fickle and work to longer timeframes but we've been a bit unlucky here.
I'm very lucky and very comfortable that I don't need my Horizonte investment in the forthcoming, and indeed if our house & business sale goes through and Horizonte is still investable (hope not, hope we're over 20p) I may add more. Nickel fundamentals are unchanged. FWIW I expected volatility around US elections anyway, and also, Covid may be a factor at the moment in general market drops. Doesn't change where the world is going with nickel. Keep the faith! GLA
I have a small holding here, but part of what put me off increasing my holding further was the large holdings of some PIs. I've been in stocks where II's with decent holdings have sold, and it's not a wonderful time to be a small PI. PIs with large holdings can have the same effect on the SP, but are more likely to be fickle with their investments. Now, I belive wasa and dj when they say they still have large holdings and are just diversifying a bit, but these events do kind of support my inital wariness. Long term it makes no difference of course, but still, food for thought...
Wasa and DJR......