jamesmaggs20 Jan 2010 20:04
Sentiment is not a good thing in the markets. I suffer the same thing with CSLT as you do with HAWK. To be honest James, think about how much you could have made with the money tied up and ask yourself, would you buy those shares today, knowing the history?
I am clearing the decks of all my 'losers' at the moment and although I will end up with less than I paid, I will (hopefully) make it up over the coming months. I have learned a lot recently and now have a different approach. Sell the losers and ride the winners. I'm studying the art of reading charts properly and hope to improve my buying / selling skills, so that I buy at the right time and know when to sell.
I must admit that CSLT is a prime example of how to get it wrong. Looking back, the signs were there, but all I could see was a 'good' company that was on hard times due to past mistakes. I assumed that the SP would improve without really understanding why it should. Had I looked a bit deeper, and studied the charts, I would have seen that further falls were coming.
HAWK is a similar share. Why has it stayed at the same level for so long? What is going to make it rise? and when? Is the money going to stay tied up for weeks, months, years?
I have certainly made mistakes but have also got it right now and then, by doing the work and understanding the companies. My biggest clangers have been tips from friends or buying on a whim. Not going to do that anymore.
Oh well, Let's see what tomorrow brings. Got an eye on Spice and Noventa are looking good. Glaxo should do well this year with the increase in value of the $. Almost 40% of their earnings come from the States.
'Cor, don't I go on! Better get off now, Wife's just pulled up. Speak soon.
Good luck on the medical front ! Nudge, Nudge.