GXY 0.81% 91.8¢ galaxy resources limited

Banter and General Comments, page-107

  1. 272 Posts.
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    This is my first post, so been kind.

    Firstly, I just wanted to say I have been following HC silently for a number of months, first just to check what was happening when GXY when it went down under $3. What I found is many great personalities and insights and I have been hooked on the conversation. I thought it was about time I joined HS as a member and added something myself. Great community!

    I first purchased GXY back when they were trading at 16c (before the 5 to 1) as a long play. It was a small punt, a set and forget because I had a hunch Lithium would be something special in the future.

    I tend not to look at my stocks that often. When I started trading many years ago it used to be daily. That close monitoring is not good for you and I learned about that riding out some of my first market roller coasters during the tech bust, Iraq war etc when prices went crazy. Unless you are a frequent trader (not recommended for those that can't handle the pressure and risk), I highly recommend buy when it is cheap and look at the stock price once a fortnight or month maximum. It helps with your emotions and helps you make sensible decisions.

    I remember when the price started hitting $4, man I just kept thinking to myself why didn't I buy more GXY back when I made that initial purchase? I was kind of wishing I could go back in time.

    Well thanks to the shorters, I am now basically in a time machine having the opportunity to buy GXY at great prices. As I see the future in Lithium at least within the next 5 years I really don't care what the price is across short spans, apart from the fact that I am so happy to be able to purchase when they are so cheap. Do I beat myself up for not selling at over $4? I could, but I do not see that as a maximum value for the potential ahead. At the end, I don't know what will happen tomorrow, a big announcement, a take over, major flood/hurricane a death at the mine site. It is just a journey and swings can happen at any time.

    I have held some stocks that I purchased at the wrong time like Santos at $4 and then it went down to under $3 and for about a year and a half or more it went nowhere and then came a take over, price of oil changed and the stock skyrockets to $7.40. That long period when the price was miserable was a good time to just accumulate every few months or so. What turned out at the time to be no to negative returns over a couple of years turned out to be 70%+ returns (depending on the various purchases made) and averaged out over the few years is still great (better rate of return then my managed funds). I am happy for the same to occur here. Let it stay at this price and every few months when I have some cash I will have a look at the price and buy. If it goes before I buy again that is still a massive win. Sentiment changes on the up or down happen very quickly.

    Anyway I sold out of oil and loaded up with Lithium and now for me I have no plan on selling for at least 12months to reach the capital gains discount. A gain is not a gain and a loss is not a loss until the point in time that you sell. Only invest what you can afford and what you can afford to risk. If you do that you will be happy with the current share price as an accumulation opportunity and make even more money when the real value represents itself. When that big news story hits, regardless of how much money you invested you will be asking yourself why did I not just buy that little bit more!!!! Don't look at the price today, look at the price the company should be valued at and determine what that value would be. Then ask yourself do you have enough GXY shares today?

    DYOR. I hope my first post was of some value to some.

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Mkt cap ! $378.7M
Open High Low Value Volume
93.0¢ 93.0¢ 91.5¢ $374.1K 406.1K

Buyers (Bids)

No. Vol. Price($)
17 67328 91.5¢

Sellers (Offers)

Price($) Vol. No.
92.0¢ 80091 24
View Market Depth
Last trade - 12.47pm 18/10/2019 (20 minute delay) ?
-0.008 ( 0.79 %)
Open High Low Volume
92.5¢ 93.0¢ 91.5¢ 121603
Last updated 13.06pm 18/10/2019 (live) ?
GXY (ASX) Chart
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