No, fair enough. I had it completely wrong on RIO. What I failed to appreciate at the time was that the overvalue on RIO signified that there was a play in the making, rather than an "overlooked" buy on the stock. If you go back to the time, I was making my decision based on the index, and I believe I picked the november medium term top to within 3 days of the high. Yes, I made a big loss on the RIO maneouvre, and the unfortunate aspect was that I didn't get it wrong from the index viewpoint, which continued on to make lows to ultimately culminate in january...
Since then I've reviewed the performance and am staying away from RIO as it fluctuates more than I care to handle...
I still watch it looking for other entries, but since then have not found one. I said a while back that either BHP wioll fall considerably, or RIO would gain considerably, and BHP fell...
Since then as well, I have been focussing on index trading rather than individual stocks which can buck the trend of the main index for longer than I can sustain, which is proving t be a far better option.
But yes, I guess we all have a story when we made a bad decision, and that is my second major decision in my lifetime of trading.
Hope you don't make the same mistakes! All the best
BHP Price at posting:
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