Well, there I was settling down to a nice snooze after looking through the Company Announcements this morning and the markets all seemed pretty flat and uninteresting……..Next minute a TXT pops in from a mate - “Have you seen Tom W on OPAY?” “Oh Sh*t," I thought…. So I quickly got my head around the story that OPAY CEO Joel Leonoff has been involved in a similar convoluted Share Buy / Sell / Loan or whatever it is with Equity First Holdings (EFH) like Rob Terry had done at QPP, which caused the enormous collapse in QPP share price this week. Anyway, it was a fairly easy decision for me not to panic and sell. Partly because I never ever make snap judgements intraday while the markets are trading and also because I am a Long Term Investor and I find that these kind of short term irritations can turn into superb buying opportunities.
Anyway, it livened up what was looking like a dull Friday…….. My thoughts on it are as follows:
Have a great weekend - and forget about all this silliness…wd
5 Comments
DT
14/11/2014 07:51:42 am
I held Opay until a few months ago and have been looking to buy back. I cursed the other day thinking I'd missed an opportunity when it rose 6%. still a great company imho, calmed myself enough not to rush back in , but anything sub 400 looks good once this settles down.
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Hi DT, glad you liked the Blog. Seems like your timing on selling OPAY was sweet. I suspect it can fall a lot more - especially after Tom Winnifrith Bearcast on Shareprophets.com, although I note that OPAY was not among the 6 stocks he mentioned. I don't think AIM stocks are all duffers - I am sure some FTSE Fledgling, Smallcap etc can be pretty bad. As you say, just gotta think about Risk Management and sizing.
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MO
16/11/2014 04:13:17 am
I think you are somewhat charitable to the OPAY CEO about understanding why he might not want to reveal he is selling shares when doing the rounds ramping the company.
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17/11/2014 02:37:14 pm
Yes, that is a fair point. Interesting that in the Update today he claims he did not sell within the Closed Period - I have to say that surprises me.
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16/11/2016 07:29:45 pm
Trading options is where you can use your knowledge of the financial markets to gain 75% profit in less than 1 hour.
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