re:attention smacko re bil Hi Smacko
I sometimes buy stocks that have fallen due to some panick in the market over the stock eg: ANZ, JHX, PTD, NAL
I sold all my current holdings in BIL at $4.90 this morning. I've been trading the stock over the last 4 months successfully (all profits). For this last trade I first bought at $4.70 then averaged down at $4.61 and again at $4.52 until the stock turned. I try to set my exit point at around 5% above my highest buy price (I'm not greedy). Then I wait. All trades are unique and sometimes the plan may require adjustment, depending on events. The important point is to start your first buy in a stock at the point you believe they are good value or oversold and don't spend all your money at once. It's very difficult to predict the bottom of a falling stock and thats why I believe in averaging down until the stock turns back.
If BIL continues to go up I am happy for all those that hold, but in my case I was happy to take my profit according to my plan.
Brave-heart
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BIL
brambles industries limited
up 23 cents ?, page-12
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