Patience

5 Mar

My patience is wearing thin on Potash in particular and a recent buy of Cliff Natural Resources.  I will wait out the downward slide of the last few days.  Don’t you just hate it when you buy a stock, then it keeps on going down?  I do!  Buying on the down trend is tricky.  You may think you’re getting at a bargain price, but sometimes it just doesn’t work out that way. 

Timing is everything!  

Buying on an uptrend may be the better way to go.  Go with the upswing momentum.  For instance, I was looking at Apple.  I’m like wow, it’s going up like crazy.  Day after day, Apple is soaring.  I think it’s too expensive, I should stay out of it.  I’ve watched it go from $420 to $530.  $110 difference in a matter of two months.  Can Apple really sustain these high prices?  What if I buy today, only to find out I made a mistake on buying at its 52 week high?  Only to come down the very next day. 

Today, Apple shows some signs of sell off… dropping $13 to $531.75.  Might be a good opportunity for me to jump in, but do I want to be burned at these high prices?  Nah, I can’t really afford it!

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5 Responses to “Patience”

  1. Alex March 7, 2012 at 2.33 #

    so you are momentum trader? 😛
    i have some Potash too but a very small position for my parents portfolio
    world needs food! 🙂

  2. agentfang March 7, 2012 at 2.33 #

    I do better when I hold stocks for longer 😉

    Potash is my biggest holding in my portfolio as you can see. I had chances of walking away with a nice grand early on but I held out for more… only to be dissapointed. Been holding this dead weight since Sept 2011. I could have made so much if I poured that into Apple hahaha!

    I should have sold out POT at breakeven just a few days ago. Now, I’m sitting at a $2000 paper loss.

  3. Alex March 7, 2012 at 2.33 #

    oh i see. to be honest, i would rather own all the Potash in the world, vs all the iWhatever in the world. cant grow food with iPods and iPads

    my portfolio is here 🙂
    http://freedomig.blogspot.com/2012/03/dividend-growth-portfolio.html

  4. agentfang March 7, 2012 at 2.33 #

    That’s true, I’m just gonna wait out Potash… Money doesn’t grow on trees but Apple does haha!

    Thanks for sharing your blog. Much more informative than mine! I’ll be checking out new postings 🙂 Keep it up! You must have a pretty big portfolio from those sizable dividends!

  5. Alex March 7, 2012 at 2.33 #

    thanks 🙂 actually i like yours more. i type/talk too much haha

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