Sunday, December 20, 2015

Bought more Petra Foods perhaps at a wrong time

After playing contra with Super towards the end of November, I decided to go long on another of my favourite consumer stock, Petra Foods. On the first day of December, I keyed an order for 4 lots and had it filled immediately at 2.37. Due to the Fed hike, I am sitting on close to 1,000 dollars of losses on this transaction. I am currently fully exposed to the stock market with no cash reserves. We are in the eight month of the bear market which I believe started in mid-April 2015. The next 2-10 more months will be on the continued down trend and I believe one more round of sharp correction is in order before we can see any uptrend. The first correction was the rout that started in July and ended at the start of October.

Eleven more days before I can write the review on my portfolio.

No comments:

Post a Comment