I was a dedicated trader for 5 years since 2006 to 2011. The situation of SL perfectly matched for a trader. If you buy a worthy share like OSEA today at a bargained price , tomorrow when you hear that LTTE has attacked to Air Port, Central Bank, Telecom, or Navy Commander Clancy Fernando, the next a market drop. So that was not the right thing to hold from 2006 to May 2009. From that onward we had triumph mentality. It was like UK after regaining Falkland Islands. Immediately market rallies were created. LCEM, CSEC, Blue, DPL, Greg, Reef, WAPO and East comet to mind as good rallies. The investors were not interested in Annual Reports, EPS, DPS nothing. Its only feeling the pulses of rallies. WE the young then enjoyed .. it was the names that matters .. Who bought this big Q of PMB... or N...wow... a rally within hours ... Pump and Dump some said. We enjoyed the roller coaster.. Either Luck or something like Foolishness helped me a lot.. I made quick bucks.. It was not only me... many were lucky.. but some said there must be sufferers....
2011 Market was too hot to handle.. Luckily I started to learn the market .. I saved myself by clinging to good stocks .. and from 2011 to 2016 August I moved to Fundamentally sound stocks. It was not foolish rallies. But reason driven. Like Oil Price and commodity market prices. Developing good strategies like buying equal quantities in Namu and REXP made my PF and all weather one. I of course made blunders during this period like holding LIOC for too long believing its worth for long term. Further it held half of my PF.
During these two terms I was not on Margin. So I was not burning with sleepless nights. Now I see the PF should be balanced like said in books. Not only Equities, but Debt Instruments, commodities like Gold must be there. I moved to Cash, FDs, Savings and also Gold.
************************************
Now back to EAST
Yes there is a created interest on EAST during last few days. Its amazing to see the interest created towards EAST during a dull and declining market and I dont believe foreigners are buying EAST...( I did not check that ) So it must be retailers.. If the directors are collecting its must appear as notices..
Surprisingly no TAs are giving resistance levels to the ASI .. yet its falling.. amidst of that there is an interest towards EAST with nice fluctuations
I understand this forum is also full of short term gainers than long term holders. If we just look at the amount of posts read, definitely the highest count comes with speculative.
In a democratic stream
1. If the majority prefers Speculation, let that be the dominant
2. No restrictions should be upon writings or sharing
Yet I am an ardent supporter of dictatorship and throughout the world the majority behave based on programming of dedicated dictatorial minority which may come in the form of Mossad, CIA, KGB, Rotschild, BBC, Reuters, Al Jazeera etc...
Regarding EAST... since the forum is democratic let the majority win.
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