Hi Guys,
Zinifex is really a great stock to trade. I 've been buying and selling Zinifex for more than 3 years now - and truthfully, have never made a loss.
At times I thought I was done, in fact my highest buy was at $19.95 - wow - that was only 4 months ago
I have been blessed with dividends nearly every 6 months, except the most recent one as it became obvious the SP was starting to struggle and I ditched out all at a profit and missed out on the dividend.
Having traded ZFX for so long, just like any stock, you get to know it and you become more aware of the market conditions that effect the SP, the emotions of the traders and most importantly you develop a "gut" feeling for the stock - it's a bit hard to explain and a lot of technical traders will be in total disagreement.
My approach with Zinifex is never to go in too heavy, pick a low entry point and take your profit if it rises. If it falls, then grab another packet. Trading from here depends on your budget. For me, I will continue picking up packets every $0.50 or so as it falls. If I am going for dividends I will leave an "orphan" behind (my lowest packet) and play it out to kill the top packet - either by waiting it out or to average the remaining packets to free up the cash and make a profit. Then the cycle starts again.
Patience has always been the key for me with Zinifex, I generally won't buy on a green day, or a rumour day - just too many profit takers around to give you a headache.
I am still holding some ZFX, my average is around $16.50, so currently I have a buy target of below $15.00. For people who got caught in the rumour hype, I would suggest they hold, average down at this level (if they have the budget). There should be no need to take a loss on Zinifex - be patient, it really is a great stock
These are just my personal opinions and are not to be treated as anything more. I am not an advisor, please do your own research.