RE: We are where we are20 Aug 2023 09:26
WackWack, I was in the same boat. I've held onto shares in the past and missed good payouts just to watch my positions move to loss. I closed out TUI at what looks like a good price (less than 610 on average), saw the price go to 630 (from memory once or twice) and thought, I've got it wrong again, it's going to fly to 7.60. I consoled myself with the thought that there are other places I can put my money to try to make my next profit and that it was a very good profit so no harm done. But my reality is that I think the TUI SP will move up to 7.60 or above and I did think I'd made a mistake. On this occasion being decisive and locking in gains has worked well. Over time a better approach might have been close 30-60%, let the rest ride, but the state of the general markets really gives me the heebie geebies (sp?). I've now bought a bit less than 30% of my original holding back with an average entry of around 526 (guess), that compares with my original average entry of around 538 (after a couple of successful trades to bring it down from over 540). So with around 70p profit in the bag, a drop now to 455 would take me to b/e.
What I'd like to do, particularly after the comment by someone re comparing cineworld to TUI, is to go back and study the SP dynamics of Thomas Cook which got itself into trouble. I've not done that yet, but it would seem important at a time when the wider economy appears to be at significant risk and the central banks seem to have few tools (only interest rates in fact) with which to try to stabilise it.
Just wanted to say that I could not see into the future and thought I'd done the wrong thing, when I closed everything. It's a tough game and it sometimes seems that whatever decision you make, it's a bad one. For me 'not making a loss' is more important than making a profit so I perhaps drop out of shares earlier than some would.
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