Monday blues hit and didn't feel like working though I still had to but punctuated with constant checking on the stockmarket throughout the day to keep me sane. The market shed 1.4% today following a string of bad news on the world and local front. The resource sector took a rather big hit right after the opening bell.
On the contrary a particular stock I bought three months ago was acting like a salmon today and for the past week, swimming against the tide. To date it gained 36.6% in value although it took a big battering in December dropping to historic lows. I suspect someone or some group is pushing the price up as everytime shares on sale were quickly snapped up.
The stock is considered a pariah in the market for having lost more than 90% in market value from its 52 weeks high, and when I told a senior adviser from an associate financial firm that I bought this stock, he laughed and instead advised me to buy the big 4 banks as they were in value. Well if I'd bought the bank shares back then my portfolio value today will still be in the red. He is the expert anyway and I don't doubt his advice as he see it as a long term investment.
Yes, I am speculating and bought a pariah stock which performed rather unpariah so far. I hope my analysis turns out to be correct.
Maybe it will become pariah again but perhaps by then I would have cashed in rather unpariah... oh well...who knows... and who cares if its pariah or not if you can make the money..... (fingers crossed)
On the contrary a particular stock I bought three months ago was acting like a salmon today and for the past week, swimming against the tide. To date it gained 36.6% in value although it took a big battering in December dropping to historic lows. I suspect someone or some group is pushing the price up as everytime shares on sale were quickly snapped up.
The stock is considered a pariah in the market for having lost more than 90% in market value from its 52 weeks high, and when I told a senior adviser from an associate financial firm that I bought this stock, he laughed and instead advised me to buy the big 4 banks as they were in value. Well if I'd bought the bank shares back then my portfolio value today will still be in the red. He is the expert anyway and I don't doubt his advice as he see it as a long term investment.
Yes, I am speculating and bought a pariah stock which performed rather unpariah so far. I hope my analysis turns out to be correct.
Maybe it will become pariah again but perhaps by then I would have cashed in rather unpariah... oh well...who knows... and who cares if its pariah or not if you can make the money..... (fingers crossed)
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