drnico (94.32)

Missed Opportunity that I can wait until they are opportunities again

August 20, 2009 – Comments (2) | RELATED TICKERS: SVR , CEDC , GIGM

Just when the month of April started, I had 3 stocks under my radar that I decided had gone up enough since the March lows and needed a small correction so I decided not to buy them. They were CEDC, GTLS, and LMIA. Although LMIA hasnt done great, GTLS and CEDC have both more than doubled since then and I regret everyday not buying them at that point. However, no matter how much I regret not buying them, I have avoided the grave mistake of jumping into them now that the market has gone up so much and they could go up another 50% and I still would have not bought into them today, because they are no bargains anymore. 

I might have not bought them and hesitated with some other stocks after each small correction that has happened in the past 5 months, but I must say that even though I hate missing opportunities and probably one of the biggest things nagging me everyday is that I did not buy such and such stock at X date, I am happy with not jumping into every stock I like once it has severely grown. My future picks until the market corrects(hope it happens and if it does soon) are based on taking advantage of significant price drops (considering SVR and some other stocks not that correlated with the market), because we might be 400 points off the highs, but that does not mean we are undervalued.

Happy Stockpicking to everyone.