LPA said:
Honestly, I don't see why the carnage should continue...But I agree completely with the learning statement
I've learnt alot in the past few days - the number one thing being DON'T LISTEN TO ANYBODY.......everyone will be wrong, until they are right and then jump up and down telling you 'told you so!'.
I bought at $3.13 based on my own research and the spike in price (caught it midway).
I should of sold at $3.75 when everyone was saying it would pop $4.00 in a week or two.
I listened when people said it was just a small correction and held on when I saw it reach $3.55.
Today it started at about $3.20, and I bought at $3.14 because nobody seemed to think it would drop much further than that (plus it was what I paid for it originally basically so I was happy to add to my stocks).
Now people are saying $2.80? over a 30% drop in three days? based on nothing but speculation that the metal rush is over......ouch. So if I listen to these people I should sell now and buy again tomorrow (well, too late to do it NOW). I just know that if I did that they would open at like $3.35 and I would lose out again.
Basically the stock that I chose a month ago and thought was doing great has just become one of the biggest losers (probably THE biggest) of this 'consolidation' period. Trying to keep my head together is hard I must say, particularly as a new low-level player. But I'm going to hold onto my stocks now.....OXR all the way! I'm just waiting for an August announcement from them, that should get the fires burning again...
oh, and one final..............*SIGH*
stupid stock market
:
Brother stocks cannot keep going up forever
In May last year the index bottomed out at 3900, at the end of september was nearly 4800, fell to the high 4300s (oct24) and now in May, almost 5300 at the peaks... it has gone up 1000points (asx200) in less than 7 months
BHP at the october lows i remmeber was 19.48 and WPL 29.00, now at the highs almost 60% higher...
When the market goes up so fast in a short period of time, there is bound to be a correction, especially last week moved upwards very fast
Underlying fundamentals are still there, resource companies VERY profitable at the minute, but the shorter the time-frame ur looking at, the less fundamentals matter
For OXR, metals and gold were the main drivers of the share price, so of course, when they go down, OXR too will go down...
There is every reason for this to continue, to be honest, even though i lost a few Gs today and yesterday and probably a few more 2mrw, its better if we go down 8-10% like in october, all that will do is it will make the next leg up stronger
Even if we fall to 4400 (God forbid) the long-term is still up, as Wayne said, so nothing to worry about
LPA, u can sell whenever u make 15% gain or wateva, but the risk there is, if it runs away from u, u have to pay more $$$ to get in
I think some people new to the markets dont know what it feels like to lose money and for stocks to go down. We are still in a roaring bull-market, this correction will provide a buying opportunity for those who think they have missed the boat and for those who want to top up, and that buying will ignite the next leg of this bullrun
We may have a few more down weeks to go though, but like i said, when it comes back, it ill be much stronger and touch new highs (the resource stocks especially)