Forum Archive Index - July 2000
Please note usage of the Forum is subject to the Terms & Conditions.
re: re: [sharechat] trading tip for unlucky punters
I really enjoyed the Happy Trading chart that David Reid posted the other
day as almost exactly mirrored what happened to me.
Normally I am a buy and hold type, if I like the fundamentals of a stock I
will stick with it unless I those fundamentals change. I find this strategy
usually works for me. However when I first starting dipping my toes in the
Wall St waters I listened to the conventional wisdom which says you should
set a stop loss.
One of my investments was Abercrombie and Fitch (ANF) which seemed to me to
have been oversold. I bought in at $11.50 (probably # 6 on the chart) and
decided to sell if the stock went above $15 or below $9 The stock
gradually declined and then came out with some poor but only slightly worse
than expected same store sales results for May. The stock dipped further and
I bailed out at $8.50.
This was No.12 (Good thing I sold everything) It has now gone through 13 and
14 and is now up to $12.20 (#16 What the hell??)
Moral of the story - If you have a system that works, have the courage of
your convictions and stick to it.
Cheers
Mike H
----------------------------------------------------------------------------
http://www.sharechat.co.nz/ New Zealand's home for market investors
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/forum.shtml.