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Share market Shenanigans

August 30th, 2018 at 03:54 am

Before going away to Thailand I had about $5500 in shares in QBE and $750 in MXI (rough amounts) but something major happened in QBE so I decided to sell all the shares to be safe. Then after Thailand we bought the new camper trailer and cleared out most of the money.

I decided to make it fun I'd slowly rebuild the account so in May I bought 1000 PGC at $0.82 and see how they go at 12 weeks. They didn't go far and were not above the purchase price so I sold them at $0.80.

I'd been adding $100 per month in the 12 week period so was ready to buy something at $1.12 or up. Got 1000 shares in UPD at $1.16 and within 2 days of holding them they dropped dramatically down to $1.09. I checked the news and there was an announcement of a buyback and likely delisting due to private takeover. That seemed really risky so I sold at $1.09 as soon as I could. Lucky, as they dropped down to $1.02 and continues to drop.

At the same time I bought the next pick I had, PLG at $1.07. Hopefully there's a better result there (we'll see at the end of 12 weeks). Definitely looking forward to getting some higher value stocks a bit later on as they always seem to be a little less risky.

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