The reason why I write a post like this was because I panicked on Thursday .....
Background info
Earlier in the year, I had entered accordia golf trust at prices like 51.5 and 57.5 cents. And the recent buoyant market meant that at 64cents, I had made a paper gain of 14% or so.
Story
So on Thursday trading ( before good Friday holiday) I checked my holdings and saw my normally low activity accordia tumbling 2cents 3cents quickly and panicked. I went of my office desk and keyed in sell order in their spurt of moment.... my initially $1.2k paper gain had eroded away to a $600 gain instead....
Later on the day, after a long day of discussion, I checked the market for other deals, only to realised accordia had returned to 61c that day. Support of it was evidently strong. I had been suckered into this selling.... the weak link.
Lessons learnt
1) back to my earlier post of sticking to the intent of my decision. I should not have been wavered by the daily intraday volatility. I had got into accordia as an income share, and I should have stick to my guns on it.. if I had waited for div, I would get about $1k in div based on a 10%yield. Which would mean more money than the $600 gain. With accordia within good fundamentals, I might want to buy in again with this in mind esp on red days.
Oh well, hope I will have a chance to get back in again soon
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