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It's an incredible retracement though, I have to agree.
Happy that I had sold my positions in GOG, SGC, NEX, FGP months ago...but now back in with modest positions in just GOG and SGC. It's incredible that we're back to the January price here, when the company is now in such a solid position. Oh well, looks like a top-up is in order soon.
Two points for the resident deramper:
- 800p is certainly not 'exactly where we are, fella' (nearer 980p at the last look)
- if you've actually looked into the fundamentals of both GOG & SGC and consider the general predicament of the transport sector then how you arrive at polar opposite opinions on both shares price movements is beyond me. It's almost borderline schizophrenic!
Yes, they're different companies. Yet, I- and many others I expect- will have them both earmarked as strong recovery plays upwards from the current deflated sp level. Smacks of desperation and obvious ramping/de-ramping with very little substance.
Hey Chri55, I'm not trying to pick on you fella! I'm a trader, I don't really care what people post on these boards... everyone is here for their own personal gains and we're all somewhere between blatant de-ramper and ramper.
I'm wondering myself whether today's rise is going to be sustained or whether we continue the slide down for a while longer. The fundamentals are strong and improving (or else I wouldn't be here), but the sentiment is undoubtedly bearish since April. I'm going to try and resist the FOMO of today's rise and wait a bit longer to see if I can pick up more at a slightly lower price. All good here longer-term in my view. Nice setup!
@CaneToad
Yes, I am heavily invested here at an average of 1179.
I'm down by quite a lot. That said, I'm not worried. I wish I could justify pouring more in on the lower price but I'm just leaving it long term. If it peaked at 1400 a few months back those days should return at some stage in the next couple of years.
Stuff said on boards like this will only make a tiny fractional difference at best. That's why I don't know why folk so heavily invest their time in de-ramping. It's a strange pastime.
@EeyoreWaysis: I was down almost 50% on GOG and SGC later last year... I still made money on it. I'm down about 8% at the moment, which is insignificant. I was ready to average-down if it dropped today, but that's not how the cooky crumbled. Strange how things work.
@Chriss, still waiting to add to my GOG... tempted to add, but a bit cautious of the market sentiment. I can't see how it's going to improve until the virus is fading.
It's incredible how the fundamentals of FirstGroup have improved and the share price has followed. From what I see, GOG is also in pretty good shape. Technicals are obviously terrible, but maybe I'll take another punt on this. I think it's going to come good.
@Chri55: @"have you averaged down yet?"
I averaged-down my 'big' trade yesterday and a smaller one this morning. It looks like it might have bounced now, but I guess we'll have to wait a few days to be sure. Either way, I'm happy to hold GOG for as long as it takes and would consider doubling again if it ebbs lower.