Don't worry - it'll bounce back, but just before the weekend is carefully timed. Monday could go either way but I'm expecting some selling pressure into next week until this stabilises and will re-buy back then.
Personally I wouldn't CFD/SB with a longer term hold like Boo...26 Aug 2020 15:51
Not saying that it shouldn't be done, but my approach has usually been to share hold when I suspect it may be longer than a few week swing. I once held AMD -30% for about a year before selling +60% a couple of months later - that wouldn't have been possible for me using a CFD.
When I started trading CFD/SB i would always over leverage and be in the margin call as soon as it went against me pretty much. Later started to always leave a 50% buffer in there to allow for weeks of down if it happened.
Nice bit of consolidation, some range trading with some testing of highs and lows, decides it prefers to break through highs after consolidating for a week or so. This is exactly how I want to see Boo trading over the coming weeks and months. If every week or 10 days we get a nice bull run that'll be absolute perfection. Here's to a good autumn and rest of the year!
Here's a tip to those who sold this morning19 Aug 2020 10:37
If it happens again (i.e. a drop at the open, or any time, tbf) google "boohoo share price" and look at the 1 month long history. Ask yourself - are the 'lows' still higher than previous? If yes, hold and do not sell.
You can still use technical analysis in a very crude simple sense without using charting software.
Well you have to take the trend lines and moving averages as your guide - if breached, think about selling or trimming size, as trend may be broken. This morning, no trend was broken, so a hasty sell by panicked investors was what they were after, and you can take that line of thought until the trend line is broken, so it is not hind sight.
People primarily think a share price drop indicates more drop to come They go defensive. It is less common to consider that the share price will stay low at the open drop to a near psychological level to stress investors out,only to get them to sell cheap so that price can rocket back up and force them to buy back higher.
Just look at the chart history to see the regularity of the spikes (some 50% in a day or two)... Though, I have been all in before, I wouldn't recommend it anymore - risk is definitely higher that a penny stock company will go kaput without warning.
RE: BWNG has been in downtrend for 2 years13 Aug 2020 10:44
I like your thesis, it seems very plausible - hope you do well there. I may look to swing BWNG over on my small day/swinging account, so thanks for the recommendation. If it were a toss up between Boo and BWNG for a longer term play however, the answer is obvious.
RE: Google and IG and tradingview all saying 32213 Aug 2020 10:17
So my investment portfolio is aggressive and high risk. I go all in about 4 times a year, looking for 20-30%+ outlook. I often don';t sell if the trade goes against me, but instead lengthen the time horizon, provided fundamental change hasn't taken place, in which case a number of 'emergency' exit strategies could be employed but thankfully have not yet had to do so. So in a nutshell, I am a buy and hold investor who goes all in when the conditions are right. 10K becomes 30k within a year via this strategy but I appreciate I am far more stupid and ballsy than most, and one day there may be a black swan event that either keeps me holding for a very long time or having to take a 30% loss on my entire portfolio.
Many ways to skin a cat sums it all up nicely - do what works for you, as long as it is working for you.
RE: Google and IG and tradingview all saying 32213 Aug 2020 09:47
You should think in terms of percentages to calculate your ROI, but 10k a year is not bad at all. Especially if that's net after all your other expenses. I've been listening to a lot of property folk lately who say either sell right now (if house is sale ready) or wait until 2022 when house prices should be bouncing back pretty hard. The majority seem to think the next year to be a bad time to sell, as prices could dip 10-30% (Which is what I'm hoping for!).
Stick with what works for you anyway - but for me, the property strategies could generate 200% in about 5-6 years, whereas the stock market tends to give me 4 longer term trades at about 30% a year, which I compound and reinvest the profit (powerful). Then I have a small account which I am growing slowly and surely through daytrading and swing trading which has been started with investment profit. The idea being that one day it will be able to replace my salary. The rental income will also do that but I consider that a completely different strategy.
BWNG has been in downtrend for 2 years13 Aug 2020 09:08
A completely different situation to Boo, who is growing and growing yoy. Boo a much more exciting and sensible option. BWNG a much more speculative play - so might be worth sticking ~5% of your portfolio in there, but don't know enough about its business model to say for sure.
RE: Google and IG and tradingview all saying 32213 Aug 2020 08:41
Most shorters are mad.
My strategy is to hold until first quarter of 2021 - Xmas will be huge for BooHoo (my feeling). Looking for an exit of at least 500p.
While property is definitely a good mid-long term investment (though passive income through rentals if done properly can be a very good money maker) it should never be used in place of the stock market which is the best tool by far for creating wealth aggressively.
Personally I am looking to buy my first 2 properties this coming year as house prices dip and wish to start a business renting through serviced accomodation and HMO to get experience with each strategy. The stock market is always going to take first place for me as where else can you make 50% in a day? Sure, some days you are down, and there is more risk, but if done properly and strategically, the Stock Market blows property out of the water in terms of sheer ROI.