Monday, May 18, 2009

Like a Kid in a Candy Store

I still have Auckland International Airport [AIA.NZ] on my mind from a month or so ago when I bought a few thousand more to add to my original 1000.

This has certainly been the case for me today with my new purchase but lets not get carried away. I have bought at a good price for me, my original foray into AIA being at $2.15 in November 2006. With dividends and tax credits included in that initial AIA purchase my cost price comes in at $1.88 per share. Today's purchase then is 18c per share lower than it was more than 2 years ago.

The main reason the stock is on my mind is that the share price on market closing today is below the $1.70 share price I paid back in April and I'm kinda getting excited again - as Warren Buffett famously likes to puts it, like a kind in a candy store - because it looks like the share price might fall even further!

At $1.66 closing and a $1.65 low today on $1.5 million of turnover it looks like the share price could go lower on a negative day on the DOW overnight.

The 52 week low for this stock is $1.56 and I will be paying close attention to the share price if market sentiment if negative this week for an opportunity to buy more.

How many?

Well, I'm looking for another 7000 shares to add to the Share Investor Portfolio to take it up to an even 10000.

I will stop there, because I do have a self imposed limit when it comes to buying anything.

Now I must add that I am average to useless at picking the market but I was happy to buy my initial 1000 shares at $2.15 and more than happy to buy at any price below that.

You can see why I am so exited huh?

Bring on those Mars Bars and M & Ms.

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c Share Investor 2009

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