ACX 0.00% $7.79 aconex limited

i took a nibble at 3.90 but agree its worth siiting on our hands...

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    i took a nibble at 3.90 but agree its worth siiting on our hands and hoping for 3.50 as a nice point to top up.

    i doubt it will go that low but you never know your luck. it has certainly been subject to very wide swings over the last few years so most support levels are relatively thin rather than strong.

    it was 2.70ish late last year from memory and thus whilst unlike to break below 3.00, one never knows what could happen if there was a bomraoder market sell off.

    always good to keep some powder dry, im keeping around 10% cash and 5% gold (in the form of nst and evn) which could easily be sold off if a market market wobbly oresented some bargain buying opportunities.

    i think being fully invested at oresent is not just risky in terms of the capital loss risk given the aussie property market / trump/ north korea/ us debt default and ceiling risks/ china debts/ etc etc, but it also prevents you from having a chance to pick up bargains should the opportunity arise. on the other hand, the people who are in more than 20% cash waiting for the crash are likely to miss some nice returns over the next 6-12months, and they will orbabky do some fomo buying just before the next bug correction anyway (after watching the markets rise and missing out).

    my point is that acx has been a volatile stock in tecent times and will not behave rationally nor according to traditional ta models. as a high p/e stock it is high risk in a market correction and thus may present a rare bargain opportunity when the fools sell in panic.

    im underweight but keeping a close eye on it as it is undoubtedly a great long term buy, but i agree with thbderhead that investing is all about 'the right price' and not being subject to anchoring bias by the recent or current lrice which may be far from instrinsic value and may change dramatically with sentiment.
 
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