Hi guys, I trust you all had a great day with the all the green everywhere. I did not.
Not sure what is going on, but just lately everything I touch seems to turn to crap. I had a great run for about six weeks where I put on about 37% across the two platforms, IG and Commsec, but starting mid last week I started to go backwards. For instance, yesterday I decided to put a small amount into each of the short termers I have had my eye on for some time, the ones that I do not already hold. It was a red day yesterday and all these stocks have been trending up outside Covid 19 for the last twelve months so thought I was safe. Lo and behold, the ASX put on 2.4% and all mine went backwards, just do not understand it. I ended up selling out of all of them this afternoon for minor losses as I cannot seem to trust my judgement right now. What if there was another green day tomorrow and mine all closed lower again? Not going to take that chance.
And as for gold, I bought 5 stocks CMM, DEG, WAF, RMS, and PRU to add to my 3 existing TMZ, HWK and CNB, when they were all at close to the daily lows yesterday. Today these all lost between 4 to 11%.
Any opinions on what I should do with these goldies? If you were I would you keep them until the gold price comes back which it inevitably will. I did read that it could touch 1766 before it bounces, or would you quit them before it gets too bad? I have done enough education to be able to read charts so not sure what happened to my judgement, I think the gold price overides any TA I could apply to the charts.
I am going to try step back a little and just watch for a bit, keep an eye on my current holds that are well green and try and regroup. Holding RBL, MSB, PBH, KGN, PFT, those goldies I mentioned and just a couple of speccies that I will probably dump tomorrow.
Looking forward to your thoughts on the goldies.
Have a good night all
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