Centamin Egypt
Entry: 50.57 (24th Feb 2009)
Exit: 53.36 (20th April 2009)
Attic Fund profit: 0.7%
I will continue to monitor this stock as I am bullish on the long term, but I am happy to dip in an out as the opportunities present themselves.
Lesson Learnt:
Even though I plan on building a fund over time, it is still a valid strategy to buy for the long term on the dips and sell when the stock looks over extended, before re-buying on further dips. With Centamin, I had some obvious opportunity to sell when the stock was looking over-extended on the daily charts, instead I held my position and saw a good percentage of my profits erode.
