The “Market” can be Stupid! Very! Don’t assume the “market” is always right and that you, and common sense, are wrong.
Just for starters , yesterday the Market sold off Monday 28%, after it had fallen 8% the day before. Why? Because Russia was invading the Ukraine? Well yes, sort of, even though one had nothing to do with the other.
But how is this for stupid? Asana, a competitor, got sold off 23%! 23 percent!!! Because of idiots who thought “Well if Monday is going down, I should get out of my Asana”. (I have no personal interest in Asana, or in investing in it. This is just an illustration of stupidity of the markets).
Yesterday, Wednesday, my portfolio finished down where it was on the Jan 27 bottom. I was hoping it would bounce today. But I looked in the pre-market and every one of my companies was down 5.5% to 7.5% premarket. And I said “Oh sh-- ! It’s going through.” But the market seems to have been wrong again. Imagine! Selling down internet security companies because Russia was rampaging? Does that make ANY sense? Any at all???
I stuck with my belief that our companies were way oversold, and bought in the pre-market and on the opening:
Monday at $124.00
Zscaler at $228.20
Cloudflare at $86.70
Now, having pulled back from their highs ,
Monday is at $139.50, up 12.5% from my latest purchase.
Zscaler is at 249.60, up 9.4% from my purchase.
Cloudflare is at $100.00, up $15.3% from my purchase.
I have no assurance the market will stay there. It may give up all the gains in our companies and keep on going down. But it sure makes me feel good for now.
DON’T START A THREAD ON THIS. EMAIL ME OFF BOARD IF YOU MUST.