4 months before, not many members in the forum had warned about this downhill trend and those who said about this trend were harshly battered. When things are getting worse, now I can see many are saying about the bitter truth (even though it hurts). However it’s too late to identify what went wrong or where it went wrong.
We all have favourite shares. Some like fundamentally sound shares and some like to play with the lines. I don’t mind if someone tries to promote his/her favourite shares in here. If we are not talking about shares what else we can talk? Do we need to talk about the person you slept last night? NO its all about stocks. But I was extremely disappointed to see how many topics were opened for GREG in last few days. I guess these mindless people didn’t see others already open topics about GREG? Are they really blind?
I can see sheer frustration from some forum members. I can only say we cannt do much about this down trend NOW. We must not forget that IPOs, right issues & foreign outflows drained nearly 100 billion in last 24 months. That’s additional to HNWI traders activities.
Blaming culture is also going on. Still there are plenty people saying SEC is not doing anything. Some still blame manipulators. Those forgot a very basic thing before they entered into this market. This is a 3rd world country. Money and power can change things. Its very hard to say no to those two. If you say NO then there will be some consequences. These people will never blame manipulators if they earned profits. NEVER.
Many Sri Lankan retailers think they are traders. But they are not..! Sadly our market lacks investors. Touch your heart and ask yourself how many of successful trades you did in last few months and how many failed? Become a trader is the easiest thing you can do in any market and become a professional trader is the highest you can go in any market.
Not many options left at the moment I’m afraid. Unless you are dying to buy shares, try not to buy anything. ( Of cause except professional traders) . Wait few more weeks before make any buyings. Whoever came to the market before 2009 has seen this type of dull market more than once.
There’s no rule say that you have to buy shares soon after you sold some. No No NOOOO.
Deciding to sell or hold the unrealise losses will be the trickiest one. If the loss is less than 10% I would sell shares in current market conditions. I know some have more than 30% unrealise losses. To be honest I really don’t know what they can do. Most of them don’t have money to average the shares as well. I hope someone in this forum come forward and help these guys. To my eyes there’s no easy solution.
Good luck for all the retailers and expect the worse for at least few broker huts.