C.Trader - welcome to the investment world - this year has been particularly hard so the fact that you're even is an achievement in itself. You will find as time marches on every day will be a school day which isn't a bad thing as the more knowledgeable you become the better trader/investor you will be.
Jonnie - it does sound simple but in fairness its anything but. I think it all depends on your level of experience/knowledge really - the only thing I can say is if a share price has rallied either on the day or for a few days, there's always going to be profit taking and that's why I said yesterday about selling on a spike - people get carried away and think the share price is just going to go one way when in all reality it's not - that's the time to sell and buy back cheaper.
Today could be interesting - new car sales figures for October have just been released and their 29% down on the previous month - that could all be to do with the chip shortages but it could also be an early sign of people "tightening their belts" in readiness for interest rate rises and the rise in utility bills. Apparently Alibaba release their figures later today as well so that may help if online sales are going well.
Came out with their figures earlier and smashed their earnings target but are down nearly 4% in pre-market - apparently (according to Bloomberg) there are concerns that whilst sales have been good, margins are being crushed because of increased costs - similar to Wal Mart yesterday apparently - be interesting to see if ASC can hold its gains today.
One of the things you could consider doing is selling however many shares you have on what I call a spike - like the £29 yesterday or when the share rallied by 10% the other day, you can buy back more at a cheaper cost with the funds you have released from the sale - that way you can reduce your average rather than wait for the share price to recover to £50.
As an example, if you bought 200 shares at £50 the cost to you would have been something like £10,000 plus whatever your dealing costs are. If you sold those 200 shares at £29 yesterday morning you would have realised something like £5,800 less whatever your dealing costs were - if you then bought shares at £26.80 with the funds you would now have 216 shares - you would only need to get to 344 shares at £29 to have recouped all your losses.
Only a suggestion and it doesn't suit everyone to do that - best of luck with whatever you do.
Thanks for that - British Bulls also have the share as "stay long" now so considering the figures coming out from some of the retailers now hopefully we can move onwards and upwards. Peel Hunt also rated them as a "buy" today with a target price of £50 I think.
If the shorters had any sense they would start to close their positions now - I think some of yesterdays gains may have been down to that.
Everyone has their own way of trading/investing so if you want to look at things in a different way, you could sell on a spike, and buy more back on a shake and that way you're accumulating even more shares at a great price.
Up nearly 20% today off the back of their sales figures - Primark up 12% odd yesterday off the back of their figures, Watches of Switzerland up massively as well - its only a matter of time now before the share price here rebounds. According to an article posted on here last night investors are waiting for todays CME to be out the way and for ASC to announce who their new CEO will be.
Have released sales figures for last month and according to them sales increased by 1.3% compared to the month before and that indications are that sales will rebound strongly leading up to Xmas - article on Yahoo Finance if anyone wants to look at it.