Mitsubishi, page-31

This is a very vicious market for out of favour stocks. I recently bought into CANN Group a few times, starting at 1.70 and buying the final tranche at well under a dollar as they just fell precipitously day after day until they got to under 0.40. They were the biggest loss in my portfolio, just as NHC is at the moment.

Then for no apparent reason they started to climb vertically (check out the chart for CAN) day after day. I started selling each tranche I'd bought at a profit except for the first two where I averaged them and sold at 1.42 for a profit even though it was well below my first tranche buy in price. Two days later they briefly traded over 1.80, so I could have taken a profit even on the ones I bought at 1.70 and thought I'd have to wait years to profit on. Overall it was very profitable, but to this day I have no idea what drove the insane roller coaster.

It still continues, with the stock now at only just over 1.00 and me trying to guess the right price to re-enter.

MYR have gone from high 0.60s to under 0.40 on hardly any news. I could list a dozen stocks where sentiment has caused cancerous declines that are out of kilter with earnings reports and prospects. AMP didn't have a friend in the world as they plunged into the 1.50s, but are now back over 2.00.

I'm not naive enough to think that NHC aren't at risk of further falls, but it's always a judgement call and every turnaround starts somewhere.