Sharemarket psychology is damn interesting isn’t it.Somewhere...

Sharemarket psychology is damn interesting isn’t it.

Somewhere around June 18th was the bottom for markets and for many stocks. But I remember at that time, every investor / poster was Uber bearish and contemplating how much lower the next leg would go.

But weirdly enough it turned out to be the time when people should have been most bullish because it was the moment when the largest gains stood to be made.

I won’t be surprised to see insane amounts of bullishness when we hit record share market highs (and it will turn out to be the moment when people should be most bearish IMO).

The obvious difficulty is picking these moments (or getting close to them). I managed to pick what ended up being the bottom for LRS this time (IMO) and added another parcel at 6.2 cents.

By contrast I bought two other explorers at the very top back in April. I recognised the tax loss on one of them and kept the other (but currently sitting on a 60% paper loss).

The only lesson I’ve learned is that of patience. I now wait a lot longer before making my buying decisions. Often what I thought was a good price on an explorer turns out to be expensive and if I’d just waited I’d have a far better average.

IMO DYOR not advice