JIN
I won't invest in illegal stocks and that decision is simple and easy to execute.
However, when it comes to moral/ethical investment, especially over harmful products, there is a huge gray area. Is alcoholic drink harmful? In moderation, within legal parameter, it is enjoyed by many without harm. What about mining? The modern society cannot survive without it, especially for energy. But if alternatives are available like renewable, then I prefer them. What about gambling? Many enjoy a punt... legally and many are disciplined not to overspent on it although there are cases of compulsive gambling.
I bought JIN for its technological expertise and initially it proved to be a loser. But it has risen a few folds over what I paid for. And when it stumbled recently as a consequence of falls in NASDAQ, it too took a major dive.
If announcements are good and investors are behaving like lemmings, that is the best time to buy! I did and will be buying more before it starts its accelerated (postulation based on CEO's presentation) climb again!
posted by Club Mulgoa @ 4:01 PM
5 Comments:
I have been gambling on gambling stocks. So far over the short term, I have won. If JIN announcements and presentation are anything to go by, then it is gambling to win because I am not buying the gamblers but buying into what the gamblers are willing to part with!
For a while when JIN was making an entry into Germany, its share price was tumbling. I never topped up then (but looking back, I should!). Once it abandoned that market, it never looked back! And then I couldn't buy because the share price kept going up. But the recent NASDAQ tumble affected Aussie tech stocks and JIN is one of them! That gave me the opportunity to re-enter when its share price started to fall.
This stock keeps going up so it is very hard for me to top up as I fear it is overpriced. Today it hit its 52 week peak.
After announcing its financial report, the share price fell back. However, I cannot see any reason why investors should sell. Because it fell on good news, I suspect something was wrong. Since I was at work, I didn't have the time to indulge in investigation.
And then, a short while later, the price went up and up! Closed at $9.83. Collective after buying at various prices, I have now made 100% profit.
Still, I find it amazing that such a successful company whose activity permeates all household in Oz, does not a single stockbroker looking into it.
Today, Saturday, there is not a single report in the Weekend Australian, the SMH nor the AFR on JIN. No broker gives a shit about this stock. I call it arrogance and negligence. Until S&P upgrade it into a higher league, based on market capitalization, no fund manager will be interested. However, that is very good for me if I plan a top up.
It closed at $9.83 yesterday after announcing its profit.
I topped up last week at $11.71. I asked my newsagent last week if a lot of people are buying OzLotto as there was a $50 million jackpot. It was answered in the affirmative and she asked if I would like to buy a lottery. I told her that I have bought OzLotto but I won't buy the losing lottery. That is for punters who don't understand statistics. I am a great believable of the Law of Average. And I prefer to gamble to win.
Since then, it has flown to near $14 over a week! Tonight is PowerBall for $12 million and more happy suckers will be pulled in. The chance of winning the top price is 1 in 135 million. So I am more likely to win again!
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