Bluechip Blues

Added AWB @ 355 today. Hopefully, this works out; even so, (I think) the charts indicate its time to breakout.

Here's the thing - both the bluechips I'm long in (BHP and NCM) have underperformed. In fact, NCM actually dropped - and I'm down $75 on it today; whereas I'm up $12 in BHP. AGK was a shocker as well - but I think she'll pull up tomorrow.

On the other hand, OXR, VBA and ZFX have done wonders, TLS wasn't too bad either.

I'm coming round to the view that I need to just trade companies that have a price of $5 or less - for starters, they don't gap at the open, and they're easier to chart.

I also think I need to trade fewer companies - I need to find just one good company at a time and increase my commitment to it. Currently, I don't buy more than $5000 worth of CFDs at a time. For example, if I'd just stuck with OXR last week instead of getting involved in the BHPs and NCMs of the world, my profits would have been bigger.

The reason I've spread my investment is to diversify my risk. I'm still not confident enough in my ability to read the stock movement. However, truth be told - I haven't done terribly badly. I picked OXR, TLS and VBA before they ran - and in the case of OXR, I managed to buy and sell at the good ends of the run. Besides, I think tracking 1 or 2 stocks is easier than tracking 9 or 10.