Forum Archive Index - June 2002

["Brian & Fiona Brakenridge" <pohuenui.island@xtra.co.nz>]

AIA is a company I have held for some time and a company whose fundamentals I like.

 

I've been watching it closely looking for a good opportunity to top-up. Had dropped quite low June 6 but climbed again, showed support at $4.42 and broken through tentative downtrend. Long-term chart shows good growth especially if you exclude the 9/11 effect. I have had a hell of a job trying to figure the markets reasoning behind downgrading the stock subsequent to the cap re-payment announcement 10/5. So I bought some more at $4.54 and felt quite comfortable.

 

Remember I am long-term and looking for good entry points rather than trading at this time.

 

Then comes the announcement that the ACC are unloading their 26% and down she goes Trev!

 

So did I screw up?

 

I don't know what the long-term effect will be of the ACC sale. It may be that a beneficial buyer will come in, someone who is actually able to enhance the value. I am still comfortable that it's a great company and there may be another good opportunity to get some more at a good price. I'm not going to average down though. I'm going to keep an eye on things and when the dust settles and there looks to be a good confirmed turnaround and up-trend I'll likely top-up.

 

Cheers

Brian

AIA011.gif

----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/