year197019 Jul 2018 23:19
Hi year1970, I hope you are doing well with your investing. Yeah I suppose I could have just said nothing, but in my opinion that is worse than not saying anything and not stating the reason why I sold. I always posted when I bought and also posted when I sold all of my shares during the very early days when MAGP first reached 1p and again when they reached about 2.5, so wht not at 5p? Everyone also knew that I traded the shares regularly on news I think I would have been criticized no matter how I played it when selling @ 5p to be honest. I've seen heavy criticism of regular posters that strongly supported the company on other forums after they've sold their shares, whether they've announced it or not and it's a no win situation. MAGP 10 bagged and as so often happens with highly speculative shares that rise that strongly, they run out of steam. I posted my thoughts and opinions here more than anybody else and put a lot of my time and energy into this forum, as did Baron, I remember Baron going very quiet on here for some time and I was receiving e-mails from investors voicing their concerns over whether or not he was already quietly selling his shares. The truth was that at the time in question, he wasn't. My point is that even when you say nothing, people fear the worst and start to panic, especially when the person concerned is a major contributor. Anyway, as the most active person on here at the time, I felt I owed everybody an explanation about my decision to sell and I knew that some people would have a negative view about it. At the end of the day I just went by my gut feeling, like I did when selling at 1p and 2.5p. A lot of hype had gone into Prucha and several Bakken wells that Rita had interests in when claiming MAGP expected to have 100 producing wells by year end.....which the unforgiving market noticed she disappointingly missed. I had other issues with the company as well, so I had plenty to consider and as you found out over time, I came to the right conclusion, Some of the posters were taken in by speculation from a certain penny share chartist arguing that MAGP could go to 7p, but I thought to myself good luck if that happens, I hope it does, but I don't think it will There was no fundamental reason for the market cap to be that high and the froth was bubbling over 100% thanks to enthusiastic speculation. Any correction was likely to be as harsh as seen in other penny shares in the past. These were the the thoughts that were swimming around in my head when the share price was peaking and I wasn't going to hide my feelings from you guys.Like I said, I felt I owed it to the forum. My only regret is the fact that many of the long term holders weren't prepared to sell on my recommendation, despite them being sat on a fat profit. I don't mind your honest account of what you thought about the way I handled things back then. What does annoy me is when trolls come on here to twist the truth about me. Good luck maggot :)
