Musings on Genting 003 and Petrotech 002
Hmm.. firstly, my prediction of china petrotech’s prices zooming up did not come to pass as yet. I guess the oil announcement did not have great impact on the future earnings of the company. Moreover most of the rise had its run on the day of the announcement already.
A little angsty about Genting because I am trying to a contra on it. Bought another 4 lots yesterday @ $1.07 but it seems that the price is downtrending again. Just like the 1st time round when i got it at $0.94. Overall, my profits are leveled. I have no qualms holding a little long-term but as i mentioned, opportunity cost. And probably, i have to dig out of my savings just to “uncontra” my buy. Tsk tsk. Speculation… I am just glad i did it within my means. I wonder about all those bullish sentiments just the day before. Gosh.. those guys who played big must be burnt pretty bad. Well, we have a couple of days more to see how this counter performs.
The emotions can really cut in when one is speculating especially on contra. There’s this urge to check again and again, which i find is a really big waste of time and mental energy. I reflected about this and would probably agree now that value investing over a mid to long term would save me a lot more roller-coaster feelings i might not need.
