Stopped out of Pan African Resources

After re-reading The Naked Trader I decided to set up some stop losses. I'd used them before to save profits, but got stopped out of some shares I really didn't want to sell, so I gave up using them.

However, I've seen some substantial profits get eaten away over the last twelve months, with hundreds of pounds being wiped off the likes of ARL:Atlantis Resources, KIBO:Kibo Mining, RED:RedT Energy and TLOU:Tlou Energy. Rather than using it as a stop loss, I could have used it as a profit protector and either moved on to another share with my money or re-invested at a lower price. With the shares listed above, it would have been a much lower price.

I'd put a stop loss on PAF:Pan African Resources and it triggered today. A worrying and sad RNS yesterday reported a fatal accident during a shaft refurbishment, and this took the price down past my stop limit. The price did climb back a bit higher just afterwards, but it was too late.

I have mixed feelings about the sale. On one hand this is a great and undervalued company, and with the purchase price now higher than my selling price there's no guarantee I can get back in. On the other hand I made a £92 (9.1%) profit from the sale and with the £52.25 dividend finished with a 14% profit which is over my 10% target. It also liberates £1,151.63 in my ISA.

I've decided not to hold on for a drop in the Pan African share price, as things may be a bit rocky for them as a result of the accident, and the next dividend payment isn't until the end of the year, but I will keep them on my radar.

I've set up a fill or kill order for tomorrow morning on OPTI:Optibiotix, as the price has dropped yet again and is too attractive to resist. The offer price is 72p so I've set my price at 71p in the hope of it starting the day a bit lower. If it doesn't fill successfully then I'll get something else. If I'm right and there's a big seller still offloading shares, then I hope there's a good chance there are enough floating around for this price to be accepted.

Meanwhile today has been rubbish. After clawing back another £200 of my overall paper deficit yesterday, I've lost that and another £200 today to go £715 in the red. This wasn't helped by banking £92 profits either. Nearly everything lost money today, so I'm hoping for a better day tomorrow, and hopefully some more lovely Optibiotix shares.