Days like today (sadly) chase large numbers of folk away from the sharemkt... usually for good. Take IMD, a stk with solid earnings expected in late August. It was 76c just over a week ago. When it fell to 70c yesterday, I considered re-entering but decided against and went for stks in IT sector instead. However, when peer MAH fell to 46c I bought a fair dollop but wasn't watching IMD. Have now seen that some poor holder(s) have sold out as low as 62.5c... when a few hours later the stk has closed up for the day at 71c. That's 13.6% off the day's low!! Unless one can sit at a screen all day it's better (imo) to select a few stks with rock solid earnings,no debt, high divs and reasonable prospects... and simply chuck in the bottom drawer. To sell at/near bottom is sickening and many folk will not want to buy shares again for years to come. PS.How do I rate IMD? I like it a lot... but feel growth prospects are not as good as some others around. Meanwhile, well down to those who bought near today's bottom!!
IMD Price at posting:
71.0¢ Sentiment: Hold Disclosure: Not Held
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