Fri, 06 Feb 2009
Troy’s Blog
After buying my shares I have been obsessing over the rises and falls. In my lunch hour I have the Self Trade window open and keep refreshing, fascinated by the ups and downs. I am happy to report that the shares topped £1.30 (I bought at £0.92) In Self Trade I have a portfolio that’s updated with my balance. It was -£12.50, reflecting my fee to buy the shares, but I got to the stage where I was only -£5.20! Amazing. I am on the way. Lunch is for wimps. Buy, buy, buy. Sell, sell, sell. Get my broker on the line.
But. A realization hits me. The fee is so big in comparison to my stake, that I can’t jump in and out, making a profit, unless I have a massive rises in stock value. Not only that but imagine this – the stock drops to 30p. What then? If I sell I incur another £12.50 charge so will only save a few quid as leftovers. True it’s better than nothing but to be honest I am in a position where I can only sit and wait. I am in this for the long term and watching the numbers makes no odds whatsoever. Weaning myself off the pretty graphs is hard but necessary. Now I only cursory check when I am researching and it’s already liberating not being stuck to the numbers.
posted at: 13:55 | path: | permanent link to this entry
Troy’s Blog
Inhale deeply. I went with Barclays. Wait, wait, wait. Ok so, I think I know a few things. I should have trusted my instinct and bought them at 50p last week. But I wasn't quick enough as I was at work. So I lost out by 1/2 of what I could have got them at.
Here's my logic. Get ready to shoot me down in flames. I am looking long (long term not short term). I am looking to get something that will build as well as something that's a good stock pick. I think that, and I base this on nothing at all, that the stock in Barclays will rise at about a pound a year for the next 4 years. That's not a great rise but it will provide some stability. Ha ha, well am I the first blogger to mention stability and banks in the same sentence in a positive light in 2009?! So what I am saying is this, I believe it will go down again, but I don't think I will be quick enough to get it at a cheap price if I am not watching the numbers 24/7. So I still think 90p - £1.00 is cheap for the stocks and as they haven't taken any of the governments cash, there is an opportunity to increase the holdings at a later stage and get a dividend. Perhaps. Isn't building a castle on strong blocks a good idea, even if they are cheap and strong? Are they strong?
I invested to the tune of £40.00.
posted at: 13:20 | path: | permanent link to this entry