After putting BLOOM on HOLD for more than a month, I finally decided to sell it today.
I first bought BLOOM on April 29, 2014 at a price of 12.22. At that time, this stock was consistently moving up based on the historical data from PSE. This was also my first day in trading so I was a mere speculator. That same day, BLOOM recorded its highest price in a 30-day period. So it was on its peak when I bought it.
A day after I bought BLOOM, the price even went higher and reached 12.52. The highest so far, from the April 24 to June 4 data.
I already wanted to sell it the next day, but I thought it was going to strike even higher so I held it for the meantime.
Then the trend changed from being upward to downward then eventually sideways. At some point, I bought more volume when the price was starting to go up again. That’s when it was at 11.72. I did this to lessen the loss from my first purchase and have a lower buy average. That is 12.22 + 11.72 = 23.94/2 . It gave me the average buy price of roughly 11.97. However, it continued to move with the same trend for the entire month of May. So I was stuck. I had to put it on hold, otherwise it wouldn’t be just paper loss.
I continued to monitor BLOOM’s price movement and I hated to see that it has since been red on my portfolio. It was stuck at almost 10% loss and I couldn’t use the capital for further trading. The value was depreciating and I realized that I had to cut the loss now or I might lose more.
From 10% paper loss, it went down to around 7% and that’s when I decided to sell BLOOM at a price of 11.46.
Yes it was a loss for me, but I have learned to accept it even when it was at its lowest price because I knew that this is stock market and I’m aware of the risks of what I’ve gotten into. In fact, I felt more relieved because at last I’m out of the red numbers and I can use the capital for trading again. So, no BLOOM for me for the meantime.
As of today, July 28, 2014, Bloom’s price is at 11.46. It was down for few weeks after I sold it. But it’s good to see that it’s slowly recovering now and has even reached 11.68 last July 22 which was the highest so far in almost 2 months.