ProverB wrote:..unfortunately such actions are never reported..leaving those who bought with you stuck with the counter! LOL!! you probably sold to someone who thought your picks were still good buys!!
@ProverB. Actually I do indicate when I sell(e.g. if you go through the blogs I have contributed on stocks such as HFCK, KPLC & CnG, you will see this, while for Mumias I had a predetermined target). Admittedly I do NOT do it all the time and even when I do, it will usually be after the fact. Besides, the comment on the sale may not necessarily be prompt upon selling or even on the initial thread, hence I agree it may be difficult for "followers" to adopt an identical or even similar strategy.
There are various reasons for this e.g. a sudden change of circumstances in relation to the company which requires a swift reaction and hence does not allow for time to "announce" the sale. In addition in cases of thinly traded shares, I for one will not want to spook the market by indicating that I intend to sell as I may then not even be able to get a buyer especially if I am selling a substantial quantity. You may consider this selfish but then my primary responsibility is to myself.
Folks should keep in mind that
views expressed are NOT sacrosanct and can sometimes change on a whim, even when they were originally stated with the best of intentions. Furthermore very few of us will want to
BROADCAST it when we sell at a loss.
People buy into various counters for
different reasons, hence my motives for BUYING/SELLING will not necessarily be the same as for others and I guess that's partly the reason I find sellers when I think a counter is a good buy and vice versa. When all is said and done, one needs to
do their own research and that's why many of us carry
disclaimers especially on our buys.
Personally, I do NOT buy/sell a counter ONLY because of what I read on Wazua although it does sometimes contribute to my decision. In any event, it may prompt me to watch a particular stock more closely, even when I do not trade in that counter. I find Wazua pretty good in gauging the mood of the market. This is both in general terms and sometimes specifically towards individual counters, which is helpful for corroborating whatever fundamentals I have on a counter, as I am not skilled in TA.
In closing, I reiterate a comment I once read somewhere that stock blogs often carry a lot of
bias. Hence they are
unreliable sources of stock advice as one cannot be sure what the bloggers
motivation really is. A cardinal rule therefore is that one should always treat what they read here with CAUTION.