RE:Another PoundingMy average price is .75. I have been looking at Newalta for a year now thinking it would be a great wild card for high leverage. Just by chance when it fell to .65 I was stunned and it screamed invest and go long! So while I have a low cost average, I'd like to hold on until at least we surpass the 52w high which is very very feisible.
Newalta is linked to Albertan oil and Alberta's oil sect is really picking up. They offer an imperative service and have a long established name.
I believe Newalta could go back into the 5's within a year or two if the situation really improves.
I'll stay long on Newalta with a small position of 10,000 shares until I hit my target ($2.65) or perhaps even go longer, depending on the situation which I will evaluate when we get there.