Quote:
Originally Posted by Tantan
Dear experienced forum members?
I finally purchased the following shares on Monday 16th June,2008:
a) Oceanic @N26
b)Wapic @N10.30
c)Cornerstone @N4.46
d)Int. Brewery @ N6.30
While checking the market yesterday (20th June),I noticed that Oceanic is now N21.34,Wapic-N7.81 and Cornestone @N3.65 respectively.
Even though,I am in the market for medium to long term,what do I do now especially if the market continue to fall(already,I have lost btw 15 to 20 % of the money I invested on Monday). Do I purchase more of Oceanic and Wapic(I still have N500,000 cash available)? Or do I sell off Wapic,Cornerstone at a loss and use the proceeds to buy FBN, GTB or UBA/UBN? I am not really worried about Oceanic but extremely worried about Wapic and Cornestone that my broker advised me to buy instead of Sky bank that I instructed her to buy when it was N16!
Please,help me out. I need to learn frm your wealth of wisdom, Thank you all. |
What was the d basis 4 your buy decision? Was it based on your analysis or relied on ur broker?
For me, no matter how solid fundamentals of any coy looks at the moment, l will not buy until l see a reverse in the market trend. that is me o!!!
I will advise you hold on until you at least recover your cost and you can then take a going forward decision. 4 me, l may only hold on to Oceanic even if all of them return to cost price. I don't normally buy brewery stock based on ethics.