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V frustrating. All of Fridays gains wiped out and still dropping. FTSE up !
All looked very decent to my mind in todays RNS yet dropping & exceedingly quiet.
Sp looking good over the past week or so
Looking forward to the results at the end of the month. C8
Very, it's just being sympathetic to US tech stocks, which are being beaten badly at the moment. Long term this is a great business.
Anyone else getting frustrated with the daily red prints? This HAS to turnaround soon. SUMO is a great business.
Thanks for the post.
You are absolutely right in what you say. One thing i/we should remember is that it is never a good idea to make a decision to buy sell when we are at that particular moment emotional or not in a good state of mind. That often leads to a poor decision. I have read that a number of times in the Naked Trader books and articles, and he is so right. Yesterday, for whatever reason(s) I just had one of those moments when I should have just relaxed more and contemplated.
I haven't really looked at moving averages much at all for a long time. I use to spend a lot of time looking at different sites such as BritishBulls and BarChart??, which suggest which way the share is heading. I have looked at candlestick charts and bollinger bands, which I do understand but I just haven't got the will to spend so much time on them these days. Think cc and bb helped at times.
I have kept an eye on the share price during the day and had a twitch of "perhaps" buying back in late on in the day when the share price retreated to close to 300p. I will do a little more thinking and see how it pans out tomorrow morning.
Good luck all.
CM
We all feel like giving up sometimes. I tell you what helps me, fundamentals + basic technicals, and monitoring wider macro worldwide economic events, plus trying to emotionally detach from a stock and not overly look too often. We all have different personalities, so some of us will be better at managing our emotions than others. I for one have a constant battle with this!! Yesterday's action in the Nasdaq tested this seeing my Portfolio go from more than 7% down at market open back to 1% down at market close in one day!!
In the case of technicals, I find it really useful monitoring daily 20 / 50 / 100 day moving averages etc, I find they're a bit like magnets and stocks bounce off these levels if an uptrend is intact, or stay under all of them if a downtrend is in play.
When a stock gets really overbought or oversold, you'll get these big swings. I also use other basic technicals that I find useful like volume, volatility & RSI. I find using this data helps me to stop making premature sales or purchases - before using them I would personally made silly mistakes based on how I was feeling at that moment in time. It does take time to get used to using this data and I know some people don't care about them, but it's well worth understanding the basics if you find yourself getting stuck in the heat of the moment.
I personally use my IG spreadbet account more for the charting but Yahoo Finance has some nice free charts.
Hope this helps, all in my opinion of course and enjoy the fresh air :)
Thanks for that.
I did have an opportunity to buy back in sub 298 this morning after it had opened higher, so waited to see if it would fall further, which of course it hasn't. Now back up, which is good for those of you still invested. Perhaps it was a rush of blood to the head and a case of shaky finger syndrome, pushed the sell button rather than go out and get some air and think more about it. I'll wait and see what happens. I haven't lost a great deal since I didn't have too many shares. But un-nerving see it fall by so much over a week or two. Perhaps I should just retire from this share investment jobbie; I have done it for long enough.
Good luck all
CM
@CHEQUEMATE - I sympathise..... been there a few times when you invest, the SP drops and it unnerves you about the investment case enough to make you sell out. The markets are very volatile atm. Sumo will be fine though and patience will be rewarded. Hopefully, you'll be able to buy in at a better price if you choose to reinvest. Best of luck.
as a gamer i cant wait for this game
https://gamingbolt.com/hood-outlaws-and-legends-interview-setting-progression-classes-and-more
Appreciate your thoughts.
I am not a novice investor; overall, I have made profit on my share dealings; but not of the last year when I re-entered the market after over a year out. Since then I have either bought into the wrong stocks or got my timing wrong. And yes, my time horizons should be longer. Still, it is what it is and I will see what happens. Share price is off its' bottom for today, so far. If I buy back in now with the same holdings as I had it will have cost me £50.
And of course what is a lot of money to one investor is peanuts to another.
Oh, and 5 years, that seems a long time to me at my (not so young anymore) age. I prefer to look 12 months to 3 years perhaps. Having said that I will run profits and will consider averaging up rather than averaging down. Too much time to look at the screen whilst being furloughed perhaps. Maybe SUMO is a hard one to trade with a short time horizon.
Cheers
CM
US Tech was down huuuge pre-market, but it’s bouncing, that’s not to say it won’t fall further. It’s driven by sector rotation, Tesla and Bitcoin falling I think plus people getting margin called, but it’s just a much needed correction over there in my eyes. Low volume stocks also fall harder until there’s support, which can also mean larger swings or snap backs.
I really wouldn’t worry about timing your trades if you plan to hold long term, it’s the easiest way to loose money. It could fall further, which is why I always dollar cost average into any position - it means I spread my average buy price and I get less emotional about timing the bottom. If your time horizon is small, I think sumo is a hard one to trade at the moment.
All in my opinion of course.
You may be right and have stayed invested; but we all have to make the decision we think is right at the time. Who knows, perhaps I should have bought rather than have sold.
The price has dropped more since I sold but is now back up some. Has the low been reached for today, or will the US market push it down more..........or up?.
I am always open to reconsider my trades.
Just a bit of a bummer..........
CM
Good Luck!
Defo keep an eye on Sumo moving forward, and keep an eye on Nasdaq action - I really think there will be some sympathy pain in some UK tech as a result of the sell off over there, but in my opinion gaming is here to stay, and will grow even when the economy re-opens. I'm still holding here as it's a 5+ year investment (bought at 323 in Dec), but looking to add at some point if things get a bit more painful.
All the best :)
You should have stayed invested. Sumo is a long-term winner. Admittedly, it's SP may have got ramped up too far in recent months but long-term this is going up - consistently growing revenues at 25% per annum, healthy profit margins and chucking out cash to reinvest. This is only a bit of profit taking and rotation into value stocks. However, this is a short-term game. After a short uplift in these airlines and energy companies, gaming companies like Sumo will keep powering on well after lockdown ends.
selling driven by selling?
i personally have a much longer timeframe in mind here.
the few companies they have acquired recently give room for much growth imo
i did say i thought it was overvalued i compared it to ea and never found a time when ea traded this high. so imo aim gaming stocks are overvalued atm , but the future still looks great...
personally not adding yet as the selling pressure is quit strong so will wait for it to settle
Decided to cut my losses here. Just a week or so ago with the share price high in the 300s all looked rosey. But it has been crashing. If I have paniced then I should have paniced earlier. Dare say the price will now go back up. We all have to do what we think is right at the time, different circumstances for different folk.
Should have reviewed a stop loss when at a high price to lock in some gains, not take a loss. Such is life. Who know which way the market is going?. Win some, lose some.
Will I be back, don't know. But good luck all.
CM
Just to put it into perspective, Tech in the US is selling off heavy due to rotation into recovery & value, so this fall is kind of expected (although Team17 seems more stable). Most of my portfolio is US Tech, apart from Sumo, so it's taken a hit since the end of Jan. My opinion is in 5 years time, today might look like a good buying opportunity, but defo average in over time incase it falls further as I'd like to see some volume on any material bounce first. My only worry is how strong the GBP / USD rate gets in the short term. Which reminds me, I need to do more digging on Sumo's revenue breakdown. DYOR, just my opinion.
Thanks for that. I would have liked to see it have bounced way before now, but don't know what the chances are.
Thechukkers, buy price is a tad over 300p right now.
What are other gaming companies doing today I wonder?
CM
It’s basically retraced to the 100 day moving average on the daily, heavily oversold now, I’d like to see it bounce around here.
my first buy in price was 360 duh :(
Thanks for your thoughts. You echoed much of what I was thinking.
Personally Thechukkers, I hope we don't see the share price fall below 300p. My buy in price was around 313-315p but after an initial rise today I see the price is falling back again. Not too much invested here, relatively speaking but disappointed over the recent week or two. And yes, I realise markets can fall as well as rise.
Trading update is due end of next month. I would like to think there will be some good news before then.
CM
i agree. as economy opens naturally people will spend less time playing games, but overall just like ecommerce gaming sector should benefit as people who were previously not into gaming got introduced to it and a percentage of those might become regulars. so if anything it accelerated the growth of gaming imo
personally i am waiting for around <300 to build a larger position
I was thinking the exact same thing today. Here's my thoughts:-
- Reopening of UK & vaccine progress possibly hurting stay at home stocks.
- GBP / USD rate has advanced (this is a complete guess at present as I haven't looked at revenue distribution).
- From a technical perspective SUMO does sell off periodically, however I was expecting a bounce today - maybe that will still come.
- Possible lower interest while people rotate into value stocks vs growth, especially now Brexit is finalised and due to vaccine progress.
Long term gaming is still a sound investment in my opinion. DYO
Any thoughts on the recent move South in share price from anyone?. Over valuation?, interest in SUMO as a take over target decreased (if there ever was any) after Codemasters takeover finalised?.
Just interested in views.
CM