Yeah classic mistake to take note of is that I sold out when I was on top expecting that it may fall back and then bought back in at around $1 thinking I was being smart then saw it drop some more and sold out for a loss..then of course bought back in thinking I was being real smart again and again saw it drop and again sold out for a loss...and so the story repeats itself all the way down to where I am today!!!
The fact is I am quite certain the huge majority of investors would have been making simlar mistakes over the last few months..i am sure we have all done it to some extent on different stocks...the whole time I was comforting myself that it was all only on paper without ever thinking it could fall this much..of course it ended up falling much further than I thought and although the gains were only ever on paper it is still quite painful...but in retrospect really who the hell thought it could fall this far?!!? It could have been far worse if I had sold a house or had an inheritance or something and put that money in at the top of the market...then I really would be sitting on a very real and very tangible loss..right now for me it is more of "wouldnt it have been nice if only I had sold then" rather than the pain of "i cant belive i lost that much"..
Actually its not that great however you look at it!!!! I am not that beat up about it though...living in Thailand I have just had the best 4 years of my life and I am healthy and my job is secure...I am 38 and can come back to fight another day..I feel real bad for those older than me who were planning retirements and will find it hard to come back from this sort of sharemarket mess...I have a few friends working at Oz's Sepon mine that are hurting badly now...
PNA Price at posting:
12.3¢ Sentiment: None Disclosure: Not Held