The demand for the stock has diminished and so are the rest. This shows that the earlier demand was due to stock-chasing mentality and not its value.
I have been making a lots of trades for the past few years and the result is not encouraging.
I notice one thing that those money making folks share in common: patience.
In Chinese, it is called "总有一天等到你". A favorite slogan used by coffin maker.
If the stock you are holding is of good value, you have nothing to worry about. Just make sure you don't dump everything into one basket only. Good company can also face bad things some day.
I notice people in a forum (better not mention the URL) make money from this simple principle: patience. Every stock rise at different timing. Don't ever expect the stock you buy go up all the time. You are not God or some sort of supreme being. You are only human. Those who have patience, make a lots of money. Those who are not, get confused between loss and gain.
Still holding on to 5 lots of XinQuan and 2 lots of BSDREIT.
12.25pm Update: For new IPOs, there are always people who got the shares for free such as staffs, managers, and directors. They don't care about the price they sell. They need cash before any festive season. Since they got the shares for free, they just sell at any closest price without lining up in a queue. This is a bad side of buying an IPO share.
Friday, January 8, 2010
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