To Sell Or Not To Sell?
This year I have been very inactive as far as the stock markets are concerned. January and February passed before I executed my first trade in March followed by another trade in April. All that changed when I realized that we are no where near the end of the sub-prime mess.
Come May and I decided to purge my account. Sold some dead wood stocks only for them to start appreciating. Damn it. For some reason I always sell too early. I had checked the technicals and I saw weakness resulting in my decision to sell the stocks.
Since then I have been busy adding new positions to my portfolio. My plan is was to buy at least one stock per week going forward.
And then came $130 per barrel oil.
While all indications showed that the market was over-bought, $135 oil seemed to have spooked the market big time. The last 2 out of 3 days had investors scrambling to get out of the market.
Even with the reversal of fortunes this week, my stocks have held onto their gains. Which leads me to wonder, should I exit my new positions?
I'll just have to wait till Friday to find out if I've got a thick skin. Depending on how the market plays out, I might dump all my new positions. I can live with a 6% gain in the span of less than 1 month.
PS. The above chart is from Covestor, a social investor network that allows one to track their stock market performance against other investors.
While I have 2 stock brokerage accounts, I could only register one account. I joined the network towards the end of April and I would highly recommend them (that is if you can trust them with the password to your brokerage account!)
8 comments:
US/UK economies will be in the deep for at least the rest of this yr with little in the way of rate cuts (especially for the UK) to salve the gloom. Invest accordingly.
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Thanks for the Covestor link!
The price of oil calls for a spot check of a portfolio, esp. manufacturing stocks
6% gain?
LoL!
Dude, 6% is peanuts compared to the returns you can expect in Kenya at NSE.
Are you just dabbling in shares or do you really want to invest?
Get with the programme - Frontier Markets is where it's at!
:-)
Maina, I've realised that I can't wait for this mess to end.
Selerines, Nice blog you got.
Kim, There intention is to let the pro's to showcase themselves.
Banks, I have this feeling that stocks will benefit from inflation. Just like we are seeing with commodities.
Anon, 6% in 4 weeks is good. If I were to earn that for the rest of my life I will be very rich.
..is the 6% it in dollars?
plus - is that 6% before or after broker commissions?
BAMM!
Anon,
6% in dollars. Only that the dollars feel like mexican pesos seeing that the dollar is going down the toilet.
Commission is $7 flat fee. And if I move to Bank of America or Wells Fargo, they don't charge a dime for the trades for accounts greater than $25K. The thing is I don't know of anyone who has ever taken up on their offer as most people don't view them as brokers.
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