Club Mulgoa

Tuesday, March 15, 2011

Stock meltdown

If you had bought yesterday, you would have done well today. But how many would be brave... or stupid enough? I was stupid enough! I got a few buys because I put very low price on some stocks and collected them before I could change the price. So I was a bit stupid because up till today, you cannot tell which way the nuclear reactors were going. I then canceled a lot of my outstanding orders.

I collected cheap gold miner MAT, potash GMM, phosphate MNB, BSR and even ARD (a silver miner) in the last 2 days. So I am low on cash again! BSR even announced a good gold find in the midst of the turmoil. Those wanting a punt, BSR, MAT and MNB have gone lower than what I bought at recently.

In nearly all my past dealings, I have done well out of stocks bought when there is a crisis. Unfortunately, this crisis can be a lot more serious and a long more "permanent". At the moment, I am less concerned with how poorly my stocks are performing. My mood is sombre because of the carnage in Japan, following the massive earthquake, the destructive tsunami and now the possible meltdown of the nuclear reactorS.

Stocks are be revived but injuries can be permanent and lives lost are not retrievable. And I have easily serviceable debt. The fall in value in my portfolio is trivial compared to what others in Japan, Christchurch and Libya have to endure.

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