The stock market bites

That never ending rise in the stock market has frustrated me. So I decided to jump aboard the train. I prepared myself as well as I could using the strategies I know. I looked for the Vector Vest Unisearches that had done well over the past couple of months. I looked for ones which had done well if I had bought at the top of each rally and ones that had done well if I had bought at the bottom of pull backs. I found the ones that had systematically done well. I did not want to fill my portfolio so I picked five UK shares (bought Friday) and five US shares (bought Thursday).

In the UK shares I have had one winner (WIN up 3.6%) one neutral (JMI) and three losers. (CLDN III and RTT). A reasonable start since there were no real baddies and I more than covered costs.

The US was a different story. I found that the best performing selection was one that picked high VST Chinese shares which had been going great guns. I bought the best group (CSIQ EJ BITA FENG VIPS) and on Friday I watched one of my picks dive 20% before recovering and ending the day 8% down on my purchase price. I leave you to imagine my state of mind as the day progressed. I could easily have pulled out as my loss exceeded 20%. Luckily I hung in. But I will go in on Monday with frayed nerves.  Here's how the day panned out.

And this is what it looks like on the daily chart. Chartists among you will say that I was mad to go in. The chart screams correction. But I was buying on fundamentals. For me sharepicking is the name of the game. I have cash so I can weather the storm, I hope.

We're promised a storm on Sunday night/Monday morning. Lets hope we weather that too. 

 As well as the clock change that happens tonight. One less hour in bed.