I was finally able to clean my portfolio. For a while now, I've been hitting whatever moved and my portfolio was filled with stocks I bought on impulse. That were okay for a while but I wasn't satisfied with my performance. It felt "kalat" and I don't like the feeling of being all over the place. I bought stocks prematurely, got whipsawed every now and then, and my return wasn't even that good. I was never the "hit whatever moves" kind of gal, afterall. Well, at least, not on the day it moves. I like buying stocks before they develop momentum. I don't necessarily have to hit the bottom but it is important for me to be there before the big move.
To demonstrate, I bought AP last October 14 at 25.25. After I bought, it fell back to 25 or even below that. I remember asking myself if I made the right choice in buying. What made me buy in the first place? Well, I saw that AP was then consolidating around its new support at 24. If it is able to hold around this level, I could see AP accelerate to the upside. The day before, AP retested 24 and it was able to bounce from there. I completed my first line of buying. AP closed at 25.30. The next day, AP traded above yesterday's high of 25.40. Breakout! So, I completed my whole buying order. AP then consisted 25% of my portfolio. I sold the next day at 26.45 when it traded below the open of 26.50. I was tempted to buy back when AP went back to my cost. I could already hear my mentor before saying he bought back his shares simply because it went back to his cost already. I didn't though because I wasn't sure yet that it would be able to bounce from there. Buying support was confirmed when the Papa Securities and some other foreign broker bought AP and it consequently rallied to close the day at 26. I bought back my shares starting 25.75 to 25.90. I made a selling boo boo the next day. I was impatient and sold AP and this time, I almost caught the intraday low of 26.40 as I sold at 26.45. I tried to buy it back. I got it at 26.85 and another one at 27.85 the next day. I didn't get to buy back my whole position. That's what I get for being too "makulit". I forgot my target which was 28.50, at least.
I believe I mentioned before that my lousy trade in AP spoiled my mood a little bit. Haha! Anyway, no use in dwelling on it. I looked for other stocks and guess what I found? DMC and JGS. I bought DMC at 33.50 and 34.80; JGS at 24.80 and 25. Last Friday, when I bought JGS, I even forgot that Cebu Pacific will be listed the next week...this week. Tomorrow to be more specific. I was just looking at JGS' setup and its inability to break 23.90.
The original high fliers.
I hope I'm right on JGS. :P
6 comments:
Happy to hear about your recent spring cleaning, Ms. Hunt. I too find myself in a better mood after cleaning up. May halo pang swerte after. Hehe. Good luck, good luck!
Wag mong i-sell down ang AP at DMC ha! XD
Hopefully JGS does a comeback...after a successful CEB IPO
Goodluck
Waaah! JGS! XD You have JGS, FI?
Sam, I sold AP. Hahaha! I still have DMC although I'm a bit tempted to sell. First in my sell list would be JGS though. DMC is second so may buffer ka pang JGS. Wahaha!
Thanks, Gen! :) Good luck to your trades too! :)
Yes Christina I do have JGS.. im holding this for the long term probably till first quarter next year but lets see how does everything go.
I got mine at 24.4
You already plan to sell?
Yeah, I want to sell already. Consolidation is my enemy, especially those with tight ranges. My intention here is to just play it. I expected a breakout and it failed. The fact it didn't move based on my expectations is enough to warrant a sell for me. :P
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