ASX newbie

Because of prior committments I didn’t get to ” Fred” the Computer till nearly closing time on the stock exchange.

I had a quick look at my portfolio and nearly had a heart attack.Almost 70% of my stocks went backwards in share price, some by 8.5% and for no real reason that I can fathom out.Possibly because of the anniversary of September 11th.

 I very quickly grabbed my research sheet that I had completed last night ,and checked their current sp ( share prices). Incidentally I do a research sheet every weekend in readiness for the next coming week.

I also use a software programme called “Stock Monkey” which works out profit and losses before I buy the stock.

 You can dowload thiis for “FREE” in the download section if you want.

Two of the stocks That I had sold previously  last week had gone down again. One by 10% and the other by 14.29% .

As I hadn’t spent the cash from last week I placed 2 orders in for IMP and EGO. at market price and got both filled with  10 minutes to spare. Both are speculative but are doing things.( dyor) Do your own research please.

So although things look temporarily bad that is the time you can pick up some bargains.

There is an old expression “buy in gloom and sell in boom’ and that is what I have done consistently over time. Plus I am not greedy,making 10 - 15% profit is nice. Particularly if it’s over a week or two time frame.

I have had a good start to the week.I must find some other committments soon if this is what happens.Only joking. The lesson here is, To be prepared ahead of time and never feel compelled to spend your money just because it is there waiting to be spent.

Any ideas on what the market will do tomorrow??? We will have just to wait and see.But whatever it brings it will be interesting.