Tech stocks
I bought more shares in WTC today because the tech wreck in NASDAQ from Twitter and Facebook continued its effect in the ASX. WTC is already overpriced anyway but I could not resist when its price fell significantly today with no bad news from WTC itself.
And on the same line, I bought shares in XRO. It too is overpriced but fell significantly today for sentimental reason (with NASDAQ).
Would you call GOR a tech stock? Well, it is building 'technical stuff' to mine its gold mines in WA. It is a new area of gold discovery so it has to build the processing plant itself. While it is not earning any money from gold refinement at the moment, it will start next year. At the same time, it is continuing to discover more gold... Because its share price fell significantly today, it is irresistible to top it up!
posted by Club Mulgoa @ 4:44 AM
3 Comments:
Yesterday, I added XRO to our portfolio and topped up on WTC. When NASDAQ fell because of sentiment against Facebook and Twitter, ALL tech stocks got lumbered with the same downward pressure. Yet, there is no reason for it!
Today, tech stocks recovered, so I am hoping I made the logical decision yesterday!
Without the tech stocks, I would be very negative in today's ASX plunge due to leadership tussle at the highest level in Australia. HUB, NWL, APT and XRO instead gave me alpha. On top of that I picked up a parcel of NXT at 6.85 although it went a little lower but closed about 5c higher.
Political upheaval is not liked by fund managers so the lemmings all ran over the cliff. Yet, there is no fundamental changes. Logically, this is the best time to buy.
Today, in the Australian... Two out of 4 isn't bad. In fact this list missed NWL and XRO. And market is 'ignoring' Z1P.
"With a week to go before the end of the 2018 profit reporting season, it is clear that growth investors who backed a handful of technology stocks will be the biggest winners.
The top five performing stocks in the S&P ASX200 this month and their upward share price movements are: WiseTech Global, 58 per cent; Altium, 47 per cent; Afterpay Touch Group, 34 per cent; Appen, 34 per cent; and TPG Telecom, 34 per cent."
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