RE: Goodbye Good Buy?11 Aug 2024 12:27
Thanks for the response Boyo. Regarding your previous questions my opinion is that the OCDO management will have made what they consider the best decision possible regarding the companies' finances. I'll go with that as I'm not in their shoes, decisions will not have been made lightly. The market and you may think they should have made other decisions.
I'm a trader not an investor. Some positions I will hold up to a year as I believe I will make my money better on a long trade and the stock at my entry point is undervalued, will turn at some point within that year, but impossible to predict when. I'll trade usually 2 but up to 4 tranches usually leaving the 1 in place longer term. For me, there is no right price to enter or exit a trade except the price I consider a good punt based on the generalised fundamental information to hand, technical analysis and the current emotion, in no particular order. I wull usually be underwater on a trade for a while, 10 months being the longest to date. In Ocado's case the large holders i.e. funds, hedge funds etc obviously make good profits going long and short with sufficient clout to move the price in either direction so I have to make a punt at some point, not going to make money sat on my hands. Fortunately for me this year this has paid off here. I traded it once 3 years ago and lost money, last year I traded it again and recovered the losses and made profit this year I have made 4 trades and profited with 5, 7.5, 10 and 17%. I am currently in again at 381 and 390, support levels I chose to enter at based on my own charts.
It's a great share to trade, I'm confident I will see a return on those prices in the next year. I may not, that's the trading game for you. I'm also trading 5 other stocks so which will hopefully be profitable at different times and I will exit, re-enter or not based on everything I have in front of me at the time.
I pay attention to the fundamentals here but I'm not going to pretend to have any grasp of them, until it returns a profit it will continue to swing wildly as funds make their profits long and short. My own opinion is that you either make an investment hoping for long term returns when it starts to return decent profits, dividends, which I believe it will, or you trade it, hoping to pick good entries and exits, which is currently, on this stock, working for me.
I don't short. No objection whatsoever to those that do, too risky for me.
None of what I think matters though, it's all opinion, which is why I don't comment much. GL.
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