The share market’s ups and downs fascinate me, and have ever since I got my first minuscule parcel of Mayne Nickless shares almost 24 years ago.
Staying out of the market bugs me a lot – it is like not having any red wine in the house, a state of affairs which is quite askew.
So this morning, amidst all the volatility, I placed a low ball offer on 500 shares in Washington Soul H Pattison (SOL), a company in which I have on-off been a share holder most of the past 6 years. The share price rose to around $18 in early trading, and then sank to about $16.86. My low ball offer was $16.90, so I was able to get back in at about 3.40pm.
The fluctuation was about 5.5% in price across the entire day.
What does that mean going forward? On Monday, I intend to place a medium ball sell order and see what happens. I am still carrying some capital losses from about six years ago which I have not been able to offset (even with my recent bailing out of the market), so if I can make some capital gains and square the ledger a little, that will be good.
Otherwise, Washington Soul H Pattison remains one of those companies I intend to hold in my long term share portfolio when the madness ends, so I have no problem with continuing to own them.
In any event, investing relatively small amounts in the share market right now is the kind of retail therapy which may prevent me from making a big mistake and throwing everything I have right back into the market prematurely!