Australian Tech Stocks
It has been plunging because of problems encountered by Facebook, Twitter and Amazon in the USA, facing the senate inquiry.
However that issue is totally unrelated to Aussie Tech Stocks but the financial world is full of lemmings. The extrapolation of the massive fall in share prices is extraordinary and... illogical. So I topped up a lot on these stocks and they plunge further! It proves that my 'logic' strategy does not work short term!
The above was written a few days again. Yesterday, the market appeared to have turned for the better for tech stocks. In fact, an article in AFR suggests that more XRO should be purchased! Meanwhile NXT is having its brawl with its partner (in the property sector) highlighted so its share price is not doing that well. And because there is no bad news for WTC, it rose too.
posted by Club Mulgoa @ 2:15 PM
2 Comments:
Whenever NASDAQ plunges due to reason irrelevant to Australia and the Aussie tech stocks follow like lemmings, that is the best time to top up, especially if they fall on consecutive days.
My short term logic did work after all! I bought more XRO and APT shares and they did climb yesterday and today. Temperorary respite? I doubt that!
Badly down in the last few days... but it is a case of high expectations are not met! Nothing wrong with these companies so I am buying more!
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