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I really should pull the plug on PDN shouldnt I?

Discussion in 'Shares' started by voigtstr, 15th Nov, 2009.

  1. voigtstr

    voigtstr Well-Known Member

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    PDN was trending up for a while but is now trending sideways/slighty south again.
    Hands up all who have looked at the graph and said why you still holding this thing?

    I wont be end of day daytrading till about March, but in the mean time, taking my less the 2k worth of shares out of Paladin and putting it in the bank would have to be a better option wouldnt it? At least I would get regular interest....
     
  2. Tropo

    Tropo Well-Known Member

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    I really should pull the plug on PDN shouldnt I?

    I would...long time ago :rolleyes:
     
  3. Billv

    Billv Getting there

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    but it's following the trend of others and is lower than 50% from it's peak.
    Do you have something better to do with your money?
    Didn't they pay any divident?
     
  4. voigtstr

    voigtstr Well-Known Member

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    There's another reason I shouldn't be "holding" this stock. They dont pay dividends. Makes it fairly speculative doesn't it. it had its rally along with the rest of the market month or so ago, but now that has corrected again.
    Its hard to pick an exit now considering if had a proper strategy in place for this one I would have already been stopped out (perhaps at the end of that last rally).

    Somewhere better to put the money would be the investment account linked to the cash management account at Commsec. At least I would be earning interest, and if can understand Alan Hulls trading method ( Active Investing by Alan Hull and http://www.alanhull.com/download/Blue_Chip_Manual_0710.pdf )
    I would be placed to jump in quicker once I work out which one of the ASX 200 meet his selection criteria the best (I also realise if I just get one stock (because of limited capitol) that I wouldnt be following his risk advice (that would have to come later when I have 10 stocks in play))
     
  5. voigtstr

    voigtstr Well-Known Member

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    I reckon I might just have to look at the market depth on Monday and pick a time when its not at least at a daily low :)

    If I pull my cash out of Navra retail and CFS geared share I'll be getting closer to minimum trading capitol for some trading but first I'll do the reading of the books I ordered and more about Allan Hull's active investing method.
     
  6. Billv

    Billv Getting there

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    Then IMO there is no point holding them,
    buy a stock which has not fully recovered from it's lows and which has a fully franked divident. WOR, UGL come to mind but there are others....
     
  7. Tropo

    Tropo Well-Known Member

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    I would never hold any stock moving in the ‘wrong’ direction only because of dividends.
    Dividends are a bonus only. Follow the winners and dump the losers. That is the name of the game!.:cool:
     
  8. Billv

    Billv Getting there

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    Ha
    I wouldn't touch very good performers atm
    If a company is already at it's 2007/8 peak levels where do you think is going to go? There is only 1 direction and that's down....
     
  9. Tropo

    Tropo Well-Known Member

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    So...are you going to follow bad performers??. :confused:
    You are trying to be predictive the way market/company may go, and that is a bad “strategy”. :rolleyes:
     
  10. Billv

    Billv Getting there

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    it's quite logical actually so I'll stick to my strategy.

    I don't see why a stock which has been seen as a parking station in difficult times will eventually come out unscratched when every other stock lost value.

    IMO if it doesn't go down from it's current value it will be going sideways as others will be coming up to what they are worth
     
  11. Tropo

    Tropo Well-Known Member

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    Personally I would not bet my bottom dollar on your logic. “Parking station” has nothing to do with technicality of it.
    Don’t forget that what worked in the past may not necessarily work in the future.
    But if your strategy is based on wait and hope...that is fine with me.;)
     
  12. Billv

    Billv Getting there

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    Actually there is an element of this in everyone's investment strategy so I'm not alone here but my current investment strategy is followed by research so I'll pick the companies which have good prospects.
     
  13. Tropo

    Tropo Well-Known Member

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    Oh I see...This ‘element’ as you said, explains why there are so many broke investors.
     
  14. voigtstr

    voigtstr Well-Known Member

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    I got out of PDN (well almost out completely...more on that later) at 4.230. The order was placed last night. During the day it opened at 4.11, had a low of 4.09 and traded up to 4.3 . Possibly a good one for intraday traders to play with. But as far as I can the trend is still sideways/slightly down.

    I only had a small holding of 403 shares, for some reason (possibly a typo) I managed to sell 402. I'm still a shareholder with 1 share! I wonder if that still gives me voting rights? I guess I'll leave that share be. Perhaps if a clear upwards trend develops I'll buy back in, but this time with a trailing stop.

    Once the funds clear from etrade they will be stored at comsec investment account (linked to the cash account that stock will be bought from going forward) at 4.5%
     
  15. Tropo

    Tropo Well-Known Member

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    "I got out of PDN"
    Do you feel kind of relief??

    "But as far as I can the trend is still sideways/slightly down".
    Correct

    "Perhaps if a clear upwards trend develops I'll buy back in..."
    There is nothing wrong with buying back.

    "...but this time with a trailing stop".
    That is what I would do.

    Happy Trading...
     
  16. voigtstr

    voigtstr Well-Known Member

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    Thanks Tropo, if monitoring the close value of pdn (and not intraday values), generally how many days would be be needed to confirm a trend up (assuming one occurs?) (you can tell my books havent arrived yet!)
     
  17. Tropo

    Tropo Well-Known Member

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