The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
I honestly hope your right but the price is currently sliding back towards 100p or lower (IMHO) unless something happens and I'm not prepared to lose all of my gains again so I've just dumped my remain shares.
I could be wrong (often am) but if it reaches 100p or I see the slump has bottomed out I'll buy back in. If an RNS kicks it back up again and I've missed the boat then so be it.
I buy and sell shares for fun as much as anything so being in profit is a bonus. I don't gamble on horses or football or anything else so I guess this is my substitute for gambling, however since making stupid losses on VOG I now dump anything that falls by 15% unless I can see a reason for the fall and expect it to rise again soon. JOG had only fallen by 10% for me this time but it seems to be following the same pattern as before so I decided not to wait any longer.
Hopefully I'll be back again soon.
GLA
Unfortunately my losses were long before the crash last year, some due to JOG, but most due to VOG and me being stupid enough to stick with shares as they continued to tumble.
Ironically it was JOG along with Tesla that got me out of the red but you could be right about JOG being bad for traders.
I guess time will tell.
You are 100% correct accept for one thing, I've actually bought and sold them several times since then so the profit is not x3 but more like x2. Still a great profit though and I'm not complaining but I've seen this happen so many times here where the price will drift down until the next RNS.
The question I keep asking myself is, "if this is such a sure fire bet then why are the professional traders not investing?"
Why does the price keep slumping after every surge and how far will it fall before then?
I have 15 stocks in my portfolio and most of them are currently in profit, the best is +40% and the worst is -9% and overall I'm up 15% since I started trading in 2017. That doesn't sound that great but at one time I was - 30% overall and this time last year I was -20% so I've done well to pull it back and JOG was one of the stocks that helped achieve that.
I'm not knocking JOG but having been burnt by it in the past I'm very wary of putting too much into it and when I see it falling I jump off.
The price seems to be slowly drifting down again :(
It's the same old story with JOG. We get some good news and the price jumps, then starts to slowly fall until the good news may as well not have happened. I decided to dump my remaining shares today planning to buy in again if it falls to nearer 100p and couldn't even get a price.
For those of you who are holding hoping for a buy out I wish you the best of luck but I'm bailing asap before I loose the profits I made in the past
GLA
Always interested in hearing the wisdom of others.
I don't think anyone would be interested in my stupidity. ??
Having said that, I have done pretty well in the last year turning a 25% loss into (currently) 13% profit but having made the loss in the first place I know things can go wrong very quickly.
In 2017 I put his bucket list into a spreadsheet to see what would happen.
Every single stock crashed in value and some are virtually worthless now.
I found to my cost you need to be VERY wary of basing your purchases on his recommendations.
There is no point in claiming JOG is worth anything more than people are willing to pay. In the future it may be worth much more than now but today 16th March 4pm JOG is worth exactly 162.5p per share as that is what people are willing to pay for it.
Over the last few years the price for JOG has had a habit of surging at news then drifting heavily until the next news which either made it surge again or crash completely. Before the current disaster the price had been drifting so thankfully my Stop kicked in at 188p but unfortunately I bought back at 187 thinking it would only be a temporary blip, thankfully only a very small amount though.
If we don't get any good news soon this will fall to 100p or less. so I'm setting that as my buy back price to replace my original stake.
Hopefully I won't be able to and the price will surge again.
GLA
Just for kicks a couple of years ago I set up a spreadsheet with Malchys bucket list to see what would happen
I bought (fantasy) £10k of each of his 13 picks so £130k. The portfolio is currently worth £53k.
The worst performer was Sound which fell from 80p to 1.3p i.e >98% loss
The least bad was Cairn Energy down from 228p to 194p or >14% loss
At the time he didn't even have JOG in his list or Serica.
I'm very wary of anything Malcy says after investing in Victoria Oil and Gas a couple of years ago. He couldn't have been more glowing in his appraisal of the company and partly because of his comments I bought some and watched it going down the tubes. eventually getting out with a 50% loss at around 55p. It's now less than 5p.
Other companies I've heard him lauding have also crashed in value so I take everything he says with a large pinch of salt.
I'm not blaming him for my loss, Dealing in shares comes with no guarantees and if I choose to buy a company that is my choice.
Just saying now I don't listen to anything he says.
I can't believe this group is so quiet.
This is one of best performing shares, up 120% and still rising.
I bought in here in May at just under 50p and so far very glad I did. One of the only shares in my portfolio currently not only in the green but rising.
GLA
I agree it's never wrong to take a profit but sometimes it can cost you a packet. I bought in here at around 50p and sold around 90p with a nice profit. Unfortunately my next buy in was 100p so I would have been much better off sitting tight.
I also bought Tesla at $500 and sold at $700 with a nice profit. It's now $1500 :(