RE: Ivor20 Aug 2013 09:41
Hi Cuppers
I'm one of those strange people that will answer a question honestly if asked.
Also, I very rarely volunteer my position, what's the point. That said, I never go short (I wouldn't know how), do CFD (I wouldn't know how) or spreadbetting (I wouldn't know how). Ivor asked me if I'd sold, so I said yes.
I sold out of CUP on the rise to 67p recently, I lost an absolute fortune. I am annoyed at myself, but there you go. We make choices, some right and some are wrong. Why would I come on and say I've sold? What would that achieve?
What I am not going to do is run the company down, deramp, berate other people's positions be they long or short. I'm broadly supportive of CUP, but I think that it will bounce around in a range for a while and I wanted to free the cash to trade a bit.
I've had two shocking positions crystallised in quick succession - ENRC and CUP. These have cost me approximately 10% of my PF value. Luckily I have managed to trade profitably for the past few weeks and have pretty much recovered one of those losses now, although today looks like it will be a terrible day for most shares.
I sold ENRC out of frustration and a bit of fear that the deal on the table would get worse. I see the SP got to approximately 10% more than the price at which I sold, but I made more than 10% trading the 'proceeds', so I feel OK about that choice in the end. I did go on the ENRC board to say I'd sold as I was so furious with how the process was going and needed that catharsis.
I wish CUP well, I hope the people like iLeeman do well out of it, and I hope to come back in when there are consistent rises and the forward strategy becomes clearer.
FWIW my motives in any share are clear - I want to make some money. I come on BBs for some banter, some conversation, and some information to help me make some money. I'm sure I'll see some of you around.