I have had a few dreams in my life which have always been mesmerizing, abstruse and unattainable for me – English, women and stocks. English is still a distant dream, women – I am married now but stocks, I bought my first one today. The long pending order has been executed but where has the market gone? By the time I decided to open a DEMAT account it was threatening to cross 14k. The time I got my form it was 16k. It had crossed 18k before I could fill it up and before I could receive the necessary documents from my bank it was 19k. Not to mention, 19k was not a movement forward from 18k but backward from 20k. It used to take years to move 800 points earlier, now it happens in a single day.
Only time I had read a market related news seriously was when ET printed its headlines as “Sachin 9k, Sensex 6k” in 2003-04. Obviously my interest was more in the bigger number then.
Since I had never followed it, I either had to follow my guts or someone else’s. As always, I preferred the latter. I pinged one of my friends who has taken the full advantage of Sensex’s skyscraping in the last few months. He asked me to have a look at some stocks on one of the websites. And like a typical middle class mentality of seeing the rates on the menu card instead of the dishes or seeing the price tag on clothing items in a showroom instead of cloth itself, cheaper the stock better it was looking to me. God knows when that day would come in my life when I will buy my drinks without looking at its cost or buy a shirt without asking for its price.
Finally we decided on a stock. I executed the buy order for it only to realize that it had missed a small “Comm.” In the companies name and bought a wrong stock. Bloody hell, why do they cannot find names which sound as different as I and you do. The stock is already dealing at its highest price. The loss is almost certain. It was as if I am no balled right on the first ball in my debut, the umpire has signaled for the free hit and now I am thinking of how to minimize the loss. May be there is a run out on free hit but there hasn’t been any till now. GOSH!!! I almost always rely on others guts; I should use their hands too.
It’s a strange game. As a retail and tiny investor, you do all the analysis and networking to justify your calls. Deep down inside you know that it’s all about hoping for things to fall in place and assume that place to be yours. Its like being the 12th man, you know you are not playing but expect to make some contribution as a substitute and hope for some glory to come your way. But that is just my feelings. People feel differently and that difference makes stock market run.