I don't question whether EMP will do well or not, I only question when.
After yesterday the real burning question now is one of strategy. The Master Plan was to sell DRE on opening since I was uncomfortable about it's MC of $74m, and the assay results weren't quite as exciting as the market hoped. I'd researched last night, and found ASN and PM1 to move into.
The pre-Market showed DRE at 3.9, then 3.8, then 3.7, then 3.6 ... as the market absorbed the assay results. I thought I was safe with a sell order at 3.3, and then on opening ... bang 3.0 ... took me by surprise. Do you take the extra hit or not? A bit of dithering and and wallowing ... DRE's uptrend is still in place ... have a quick look at ASN and PM1 ... ASN up 25% but PM1 hasn't moved yet.
DRE's next results from a different location due in the next 7 days ... these are highly likely what the leak was all about anyhow ... or maybe it's the iron ore deal that's been rumored a bit?
What's the strategy now?
If DRE's next results are OK, and it goes back to 3.5 do I still sell? What's the point of doing a few hours research to find ASN and PM1 if I don't have the cash to invest in them? Am I going to invest in stocks like EMP, RDS and EMC, understanding their fundamentals and just wait for the to play out ... for a few weeks ... for a few months? Or am I going to chase the hot stocks, and move the money around a bit more? From March to June I rode the wave and four bagged my portfolio ... but the market is different now ... and I've been in first gear ever since.
DRE was 10% of my portfolio. It dipped 20% so only cost me 2% of my portfolio. A painful paper cut, rather than something more serious.
I'll wear the paper cut, but I'm at the crossroads, and need to sort out a strategy and commit to it, so I can the next step as an investor. Right now, too much dithering and wallowing.
Once I sort that out, I might sleep a bit better rather getting up at 3 in the morning yet again.
(20min delay)