Thursday, May 17, 2012

breaking the rules

Last week I gathered some money, bought some stock, and broke my rules. The year or so previous to doing this investment strategy, I was in and out of GoldCorp [G]. I knew it traded in a range between high thirties to high forties, sometimes even low fifties. So last weeek when I saw G in the mid thirties I gathered some money and bought in. I didn't wait till I saw a 5% [or better] increase. Consequently I bought G at $36.05. I don't think that is terrible, but if I'd waited till it bottomed and turned, I would have bought it today around $35.31. Today Goldcorp [G] is $35.31, up +2.12 (6.39%) on the day. 52 week range is $32.52 - $55.93.

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