If you bought near listing date, as you put it, & do not sell, how much profit will you waste if the market reverses, possibly after a global calamity.
I bought a several thousand shares in Babcock & Brown on the float. I had figured, based on length of waves, that the price would go to $38.00. The price went to exactly $38.00 & I was too busy & not paying attention to the market. The price collapsed to zero, I was too stubborn to sell as I could not believe it. I got exactly zero. The message is, when the price gets to your target, sell.
You do not have to sell at the absolute top to be a winner, leave some profit for the idiot who buys your shares.
When Kerry Packet sold Channel 9 to Alan Bond, it was about 12 months from the top, but he was able to buy it back again for a fraction of the initial sale price.
CBA Price at posting:
$168.00 Sentiment: Sell Disclosure: Not Held
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