Forum Archive Index - September 2000

[Derek <dkw@paradise.net.nz>]

For 1 year now I've been trying to make money on the NZ sharemarket
by trading rather than buying and holding. Still a part time thing
with me since I would need about $200k to earn enough to live on.
This is calculated at about 20% a year, although this year since April 1
I'm over 20% already. Last year I made 20% including dividends. It could
have been alot better but I really stuffed it up with too many tech 
stocks held during the first part of 2000.

Now I've learnt (finally) another lesson, I'll be very cautious about
buying any stock when there is hype involved again. By the time
there is alot of hype or rumours around, the price has usually
gone up, time to sell not to buy.

(thinking of ADV, ITC, FFS)

Also thanks to Rob for suggesting a week or so ago to sell FFS
at 88c and buy at 82c. I took your advice (the bit of inside-related
knowledge and the comment about falling in love with the share was
what did it for me.)

Sold at 88.5c last week (average), bought at 82c Thursday.
Its a pity that by the time FFS hit 82c I only had 1/3 of my money 
from the 1st sale!

The hardest part about investing - keeping the money in the bank
until the right opportunity presents itself.

(Bought MET at $1.19 by the way, now I'm stuck with it until it 
turns around - may be a while.)

Cheers everyone,

Derek








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