I have been wrong on Telstra. I thought it was a “buy in dips” type stock when I wrote back on 17 August to “hang on to your Telstra”. Since then, it has performed rather poorly.
In fact, it has been one of the poorer performers on the market over the last eight months. Since rising rapidly at the start of the year to peak at $6.70 on 6 February, it has fallen away. Last Monday, it touched $5.28, before closing the week strongly at $5.58.