Should Have Sold
filed in My Investments on May.07, 2010
To some is might seem like I only post when I profit, but with the busy schedule of myself for the past few days, I missed the boat on opportunities to get out of a few key stocks which were up and now are sitting at much lower prices. There is no true logic or reasoning I can come up with except for the sheer greed of being up significantly and trying to squeeze a few more drops before walking away. I have emphasized this in the past as a way people lose their shirts and sadly caught myself in the same trap. One stock I am caught holding the bag with now is (OCNF) which I was at one point up 20+% and now am down a pathetic 35%.
For a while now, a lot of stocks have been trending upwards and it all came to a stand still when the Greek market crisis took more central stage in the media. With the thought of another market doom scenario in the minds of many, people have stated to pull money off the table to take profits and preserve capital which I should have done.
Instead, I held onto denial and tried to ride this wave. Wrong move.
This week, the markets have ended on drops we did not see in a while. All three boards have erased all the gains they recorded this year. At close, the S&P 500 was 6.4 per cent down on the week.
The Dow Jones Industrial Average had lost 5.7 per cent on the week while the Nasdaq Composite had dropped 7.9 per cent over the week.
The Vix index, a measure of market volatility, was up 26 per cent yesterday to 41.32, and 87.4 per cent higher on the week.
What does next week hold? Its seems like volatility is going to linger for a while. More people are jumping back into gold and USD which could not be a bad idea. With the good rise in the number of new jobs truly failing to push the markets into a positive trend, the better housing numbers also failing to do the same, we are going to need some time to let the wound of the Greek crisis to heal and hope that the next country in line to make a similar announcement to either find a resolution without public turmoil or wait long enough that the aftershock does not topple the markets. Spain is facing problems that will need to be dealt with soon.
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May 10th, 2010 on 4:40 pm
It’s hard to have regrets in the market, you’ll be alright I believe as long as you wait out and play it for the long run
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June 1st, 2010 on 10:03 am
Wow! I think denial, together with refusing to take losses are the two most common mistakes amongst investors. And then, off course, most of them don’t want to talk about it anymore. I remember birthday party conversations during the Internet stock boom: everyone seemed to own stock and loved to brag about their gains. After the crash conversation was back to sports, vacations, who died, etc. You made the first important step towards prevention: admit your mistake openly.
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July 7th, 2010 on 4:47 am
For myself, I try not to think about the If’s and what could of been… I just take my lesson in stride, and try to apply it for the next time, I find that if you get too caught up in the moment, of what could of been… etc, it will impede future performance.
Till then,
Jean
used tires´s last [type] ..Used Tires Dealers Website
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