Monday, 18 May 2009

Cutting losses really does save you money

I had a bad feeling about Oxus (pre-dominantly because it was a rubbish trade without me backing this up with my selection criteria) and well that proved to be very true with results out today.

Net debt up, financing being sourced for developing their latest mine which has now been delayed until 2011... blah blah. A lot of positive spin on a lot of bad news litters the rest of the results... in short I saved myself another 200 odd quid loss by getting out while I was feeling concern. Defo made me more likely to go ahead and do this again in the future rather than hanging in there for a rally!

TyraTech (REGS) - another proactive investors stock. up 50% today on director's purchases and notification of first shipment of it's new SafeShield insecticide! I'm not even going to pretend I was looking at this one but I did have a quick scan when my invite to the session came through as well as when one of my mates dropped me a line saying how annoyed he was at missing the boat on this one! Better to miss a boat then hop aboard one that sinks! This could still be a buy though...

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