NCP ran up to 10.62 in the first 40 minutes of trade. 10.77 is the price target for the parcel I bought on 25 June. Can it hit it? Maybe.
An hour later it’s dipped and come back up to 10.64. Looking good until it stops dead and trades in a 10.58 to 10.60 range until 3:00.
Then it broke down below 10.58. I think it’s peaked for the day. I decide to sell 945 at 10.60 in case it comes back. I’ll let the other 1015 NCP ride the market.
But the sale doesn’t go through and NCP closes at 10.58. I expect a bad night on Wall Street so it may take a while to come back. We’ll see tomorrow.
NCP open $10.05, close $10.12, high $10.26, low $10.01
Another roller coaster. By 1:30pm it was on its highs. Sell target is $10.46 or $10,000 worth around $10.17 tomorrow if it doesn’t do much (that’s not likely). That will give me the 3% return. Hmmm time to rethink, maybe I should sell after a down day?
ALZ is Australand. They are property developers.
An annualised 8.57% yield before franking credits.
My overall portfolio is underweight Sydney real estate (I’m bearish on it but I’ve been wrong before). So stock market exposure to the property market.
At a Freestyler Network meeting in late July, I was told ALZ paid a 3c fully franked quarterly dividend (ex-div 9-Aug) and the stock was around $1.40.
Downside analysis should it become a long term hold:
Ouch another fall. Maybe I’m trying to learn Dollar Cost Averaging? I think it is not a good strategy for a trader.
The case for is at Motley Fool.
The case against is at Investopedia University.
Time for another foray. I think NCP has fallen enough to jump back in.
Nice profit for two weeks holding. For those who don’t want to work it out it is 6.48% before commissions.
I’ve been trading NCPDP and other stuff without much success over the last month (nor keeping a diary). I return to a stock I think I know something about. But my position size is scaled back to $10,000.
Glad to be out with a tiny profit. It will probably jump up a bit, but the trend is down.
Back from holidays and NCP is down again. So like a moth to flame I jump back in.