Only held them on one other occasion sliced bread, bought in September 2009 at $3.54 and sold at $3.80 in March 2010. I've always kept an eye on them but timing and chasing my tail made me miss a couple of the counter trend bounces. Although, i was very close to pulling the trigger at 36 cents on the current leg down looking for a double bottom.
After such a resilient showing on the 30th, IVA needed to show its colours yesterday supported by a higher copper price than the preceding 24 hour period and gold breaking through $1400. If it was going to push on, it had to occur within the first half hour for mine……Alas, the seller kept feeding them out and the decision was easy, i don't have enough money to fight them so it was time to exit stage right but i was so very disappointed for the long term holders as the suffering appeared to be over and testing of the underside of that 36 cent area looked a genuine possibility i thought. You guys just can't catch a break.
Had a trip down memory lane finding that IVA trade. Only started doing this in early 2009. That damn crystal ball. Had watched the indexes slide for 18 months and when CBA got slammed 10 percent in one day i thought that's it, i'm in. Bought CBA for $27 and it quickly rebounded to $29…..Wow, i'm a genius. History now shows that my first trade was only a month before the gfc low and CBA got slammed down again to $24……Oh no, what have i done, i'm an idiot. What an introduction to trading. A month later, the fire was light and sold CBA at $37 thinking i was a genius again. Of course the next year or so was spent chasing every hot stock and copping a hiding on most of them. Apologies in advance for the long winded dribble (Damn scotch) but learning from the past is everything, if you think it's heading south, whether you're up or down, run for the hills for the sake of your sanity if nothing else……I don't mind averaging down for a pip or so "only" if a stock looks well supported but if the area gets breached, quite simply, you've made the wrong call, take the medicine and get out as there'll always be something else to play with. Averaging up is the safest play.
I view IVA as a huge buy, just not sure when and where.
IVA Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
