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Lucky,
The first rule of investing is to way up the benifits of the risk/reward ratio. That ratio is clearly an opposing sliding scale and After quite a rise of late, there is undoubtably a larger element of risk now (particularly if the SA government are reducing) than a few weeks ago. That doesnt mean the rewards are not there, just the balance has shifted more the other way. That fact has been proven this past two days with the sp drop, it is now holding at quite a lower rate. Nobody KNOWS where things will go in the future, we can all make arguments for our own narratives and viewpoints, but nobody knows for sure, best to see both sides therefore, positive and negative.
The second rule of investing is to preserve your capital if the situation changes as you personally see it. You can always reenter when rule one becomes more apt. That is often a hard thing to do when taking others views onboard on a platform such as this, everybody always sees posters as either a ramper or deramper - there is in fact a lot more middle ground availible where most people sit.
For what its worth, i also exited this morning before 9am having become alarmed at the drop from the 250's. I made a few thou, but not as much as i could, and am currently awaiting reentry having set some limit buy orders.
Good luck to you, me and everybody else, this game is a bit of a roller coaster at times isnt it.
Thanks Daytradenovice. Unfortunately I am terribly adverse to risks and for this reason have missed many handsome profits to the point of having £millions in the bank. This my attitude allow me to cut short loss making positions but at the same time doesn't allow me to run the winners and take profit too early. With Tga I take no prisoners as I said made zero. If I can say what I think on tga sp without been passed for a deramper now that I am out, if the SA intend to sell all their holding, at the speed they are doing it the sp will be under pressure for a little while and only a continuous coal price increase could counterbalance it. Again if this can be some sort of apology I had no idea that a fund intended to sell shares, my assumption was that the sp was moving only out of private investors, anyhow again I take my chanse that could very well work out against me....... Have a nice week end.
Good luck to you Lucky, completely agree that its upto each and every holder what they do with their investment, and its comendable that you have posted your change in position. Been interesting reading your posts, keep them up :)
What does it matter Crawshaw? Just to say been in profit 15k I sold today to break even.
Weak shaken up flying up founder mental state not changed here
@@LL your choice to sell and buy all good here
What price did you sell at?
Not that I have to ask permission to sell, or either justify the reason. I could have easily say nothing... Moreover in selling i run the risk of having to buy back. I don't think anyone would have predict that the SA gov was starting to sell Tga shares, in fact I did not even know they own any Tga shares. If I know it before I would have indeed ramped up how positive is for Tga to have its interest aligned with the SA gov but possibly that would have been naive from my part. Anyhow maybe next time I shut up..... From the start, do my research and use this board only as source of extra info.
Crawshaw,
Are you really surprised?
All the nonsense it spouts....I discovered the filter button a few days ago...it's got like the rest of the boards where unfortunately the ones that post the most, actually have the least to say and any regular name I scroll straight through mostly...shame really, only one on the list, maybe more will follow....
Wow I thought you were the one that backed this share the most?
You've been ramping this share non stop and now you're selling out because one fund has reduced their exposure?
Boys and girls I am out for now. Although I strongly believe at Tga fundamentals I am not prepared to go in red here.... Whatever is the reason SA gov is selling, there are still some 8 million shares to unload and can't see the sp making new high for now. Will look at development closely looking to reentry.
PUBLIC INVESTMENT CORPORATION SOC LIMITED:
The Public Investment Corporation is a South African state-owned entity with R1.907 trillion of assets under management as of 31 March 2020. It is Africa's largest asset manager.
https://www.lse.co.uk/rns/TGA/tr-1-notification-of-major-holdings-1z8npjccb5rrpey.html
PUBLIC INVESTMENT CORPORATION SOC LIMITED
...ANOTHER -1% and possibly still 7.6% to go.
Does anyone know these guys? I am going to pay them a visit...lol