what are the lessons to be learnt

No matter how long a person might trade in and out of the share market, there are lessons to be learnt especially when we look at the trading of MBN in recent days.

This stock in the last 12 months traded at a yearly high of 59.5 cents on the 9th and 10th January. It then dropped to a low of 4.9cents on 3rd July before recovering back to 12.7 cents on 20th August.

Many would have thought that we might see a steady climb back up from here. But no! The SP drifting down to 6.1cents.

Before this on the 17th and 18th as well as the 20th Sept, we observed heavy selling especially on the closing auctions. (I personally believe that certain ones ‘in the know’ knew what was about to happen)

On the 25th Sept I was holding 80,000 MBN at an average cost of 6.5cents per share ($5200)

At the time I was thinking that we could see a bounce soon. But something made me sell at a loss for 6.1cents. (whew)

What really annoys me is that there was no apparent warning before the trading halt. Then we had the ‘bloodbath’ yesterday.

Some investors talk about ‘putting shares in the bottom drawer’ I think nowadays, it is a matter of being satisfied with making a quick $$$ and then cutting and running.

Personally I am starting to feel a lack of confidence in holding anything overnight. I don’t think I am the only one who feels this way.

Raving1