I put a buy order on REX this morning, at $1.055 per share. My paper loss on the ASX is mounting and no island is on sight whatsoever. However I can't leave the money stay in our non- interest based account either, inflation is terrifying.
Why, REX?
Well, as I wrote few days/weeks ago, REX does have a lot of good qualities. It share price has been slammed to the low side for a while now, and I think it's enough bad news already. The fact that REX's share price hold, despite an ever increasing fuel price and other things, is a bit reassuring.
Oil price can't go up forefer (or can it?), so I guess it's my way of hedging my portfolio against the oil stock. I hold ARQ and BPT.
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