I sold my shares in July/August of this year as I fear a correction is just around the corner. Wrong timing! Stock prices even built up momentum and many shares even tripled in prices. So I really felt bad looking at the Hang Seng Index moving up to 26,000...27,0000....28,0000 and then to more than 30,000!!!! Thinking this might be a continuing trend I went back into the market. Unfortunately stock prices began falling especially after China's President Hu Jintao made a statement that the express train for China investors to directly invest in Hong Kong shares will have to be postponed for further study. What?!
At last week's IPO of Alibaba.com (1688) I bought 1,000 shares at HK$39.25 per share. Yes, I've gone crazy as my colleauges exclaimed, buying very close to its highest price! At its opening I tried to buy at HK$33 but I took in my colleagues' advices that the price is too high. Price continued inching its way up while I was itching to get my hands on this share so I took all my courage to buy anyway. Ooops! Very....very...wrong. I would have earned about a thousand Hong Kong dollars if I sold these the following day at auction price of close to HK$41. But I did not! So here I am with 1,000 shares of Alibaba.com now worth less than HK$30 each. Whaaaaaaah!
But this did not stop me from buying the IPO listing of 3800 on Tuesday. I bought again at its highest HK$5.40! I tried buying at HK$5.25 but price is moving up every second. I saw the prices on screen going up to HK$5.57 and then sliding to the time I bought at HK$5.40. But my golly the price dived down to less than HK$4.50! I was still hopeful though and in the afternoon trading session it went up to HK$4.90 and then closed at less than HK$4.65! My! My! It may not be possible for it to gain a dollar today. I am still trying to be optimistic as whatever little savings I have are in the stocks now and I do not want to realize any paper loss! I understand though this is a natural result with me being an emotional investor. Today 3800 dived down to HK$4.26 but closed at HK$4.91. I could have made some money if I bought this morning!
At last week's IPO of Alibaba.com (1688) I bought 1,000 shares at HK$39.25 per share. Yes, I've gone crazy as my colleauges exclaimed, buying very close to its highest price! At its opening I tried to buy at HK$33 but I took in my colleagues' advices that the price is too high. Price continued inching its way up while I was itching to get my hands on this share so I took all my courage to buy anyway. Ooops! Very....very...wrong. I would have earned about a thousand Hong Kong dollars if I sold these the following day at auction price of close to HK$41. But I did not! So here I am with 1,000 shares of Alibaba.com now worth less than HK$30 each. Whaaaaaaah!
But this did not stop me from buying the IPO listing of 3800 on Tuesday. I bought again at its highest HK$5.40! I tried buying at HK$5.25 but price is moving up every second. I saw the prices on screen going up to HK$5.57 and then sliding to the time I bought at HK$5.40. But my golly the price dived down to less than HK$4.50! I was still hopeful though and in the afternoon trading session it went up to HK$4.90 and then closed at less than HK$4.65! My! My! It may not be possible for it to gain a dollar today. I am still trying to be optimistic as whatever little savings I have are in the stocks now and I do not want to realize any paper loss! I understand though this is a natural result with me being an emotional investor. Today 3800 dived down to HK$4.26 but closed at HK$4.91. I could have made some money if I bought this morning!
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