This is an example of a chart breakdown. Buyers who got in at $2. People like me - had to start selling at $1.95.
I sold some but held some back - thinking that the dip would be temporary- the volume wasn't all that big either. However more sellers are starting to hammer the thing down.
Its hard to say whether its just market manipulation or some horrible news around the corner. Bugger if I know. But I sold Synear today. The chart looks positively dangerous now - coupled with the recent market volatility.
Missed out also on Sunvic today. Put in an order to buy this morning @ 62 then later withdrew it. The chart looks positively sweet. But I'm off to Sipadan for my holiday on Wednesday and I didn't want to have any overhanging stuff and didn't feel like chancing a situation where SUNVIC just drifted along. Hmm... a better idea would have been to buy a small portion with a strict stop loss.
The main concern for share traders (and investors) esp. during times of market volatility is to seek to protect capital. Because if you lose your capital - or allow it to get stuck in downward trending shares- you're trapped. I've been in that situation before. Its a horrible place to be in.
Hmmm... I baulk at trying to explain Mediaring to my mum though. She's asked me to get it last week when it was at 40 cents. She got a tip from her friend's son who used to work for the company and mouthed out some old news. But the chart looked crap. And now it spiked up 10% today. This happens quite a fair bit with the old girl. She tells me to buy something because her hairdresser's son or squash buddy etc.. says some rubbish piece of news about a shit penny counter. I don't buy. And the idiot share runs up. Of course, the times when I do oblige her- the stock flat-lines. Groan.... I can't wait for her to return back to Australia.
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