This has been my first trade with my new SMSF - actually my first share trade of any kind ever to be honest.
SPO was one of the handful of companies that I have been watching on the sidelines since November, waiting to get my feet wet, and knew it's fundamentals were very strong (actually regarding it as a defensive stock for any upcoming recession). I bought at 0.99 on what I guessed (and gleaned from HC) had to be it's bottom and was more than a little uncomfortable seeing it fall to 0.90 (actually, I was telling myself that I was delusional think I could trade) but at $1.06 feel better and intend to hold this long term - at least until dividend or it's back to $2.5.
The Question I have for the forum is to ask if all this is normal in trading? Should I expect to see this kind of blatant manipulation in all stocks? Should I expect to see good stocks drop like rocks because someone has a short interest (I really don't even get 'shorts')? Should I ignore company fundamentals in preference to what the sentiment of the day appears to be? Worst of all, should I expect there are usually participants (especially in the Media) that are deliberately influencing these dealings (i.e releasing the month old news about the contract)? How on earth can that be allowed and legal?
Feeling a bit like a babe-in-the-woods and maybe in over my head, but with this first small win very keen to keep learning everything I can.
SPO Price at posting:
$1.06 Sentiment: Hold Disclosure: Held
