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Selling like a pro
We tend to focus on the buying, enteries and selling at profit. But what of selling at a loss? Far to often i hear people state it has fallen too much and so there’s no point in selling – this is false. Ignore the loss you already have and focus on the loss ahead of you. A stock that has fallen 90 can fall another 90% and when people ask where’s the bottom? The answer is zero, until then it can always fall more.
A good sell is as good as a good entry. I exited most of my Calgro M3 (JSE code: CGR) at around 2100c but kept some only to watch it fall to under 1000c. I then finally sold the balance and now it’s under 600c. It is never too late to sell and we need to become as good at selling as we are at buying.
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