After the bloodshed edition Feb 2020 portfolio update, we continue to witness the financial markets in turmoil. Stocks and Reits experience series waves of sellsdowns and dead cat bounces.
In Feb, I was hoping to be able to add SATS below $4.10. Amazingly the share price of SATS is able to pierce through the multiple layers of support at $4.00, $3.85 and $3.70 levels. And it will possibly plunge to even lower levels in weeks to come.
SATS has announced pay cuts for their management and warned about the significant impact of the coronavirus on their bottom lines in Q4 2019.
Nevertheless, I stuck to my plan and added 1,500 shares at $3.69 to increase my holdings to 4,000 and lower the holding cost to $4.22. This is my little investment effort for the ultra long term using the 30 years locked up SRS funds.
My long term plan is to add at least...