# Were you buying or selling today?



## Pager (6 March 2007)

Been quite an eventful few days with plenty of volatility.

What are you doing now? Buying, Selling or sitting on the sidelines ?.

Do you think this was a correction and today was a day to pick up some quality stocks at knockdown prices, or was it a good opportunity to short stocks for a move even lower?

I bought Sonic Healthcare which looks a quality stock at a knockdown price, good growth and one for my bottom draw, also Ex div tomorrow, so 3 Dividends in a year basically, maybe not the most exiting of stocks but a solid performer with a great business.

Cheers

Pager


----------



## toothfairy (6 March 2007)

Didn't do anything today, didn't know what to do right, confused, think it's probably a kneejerk. Wait & see, I am down to 30% shares & 70% cash in my stock mart portfolio. What do U think?


----------



## nizar (6 March 2007)

Pager said:
			
		

> Been quite an eventful few days with plenty of volatility.
> 
> What are you doing now? Buying, Selling or sitting on the sidelines ?.
> 
> ...




Im on the sidelines.
A good opportunity to short 2day i think 2mrw an even better one.
XAO to reach 5800 2mrw possibly then down again.


----------



## RIC (6 March 2007)

did final selling yesterday at 100% cash

would consider small purchase after all ords at 5400

if breaks lower than this then believe  will be in bear market-will be caused by usa  housing sub prime


----------



## MichaelD (6 March 2007)

Long term system - no trades today or tomorrow.

Short term system - bought one, closed same day for a modest profit; short sold one. Will buy one tomorrow as well, very small position size.

I felt very bullish at 4pm today but having looked through the charts now favour today turning out to be another dead cat bounce.

Ah well, that's what systems with rules are for - just trade the plans and keep predictions as entertainment value only.


----------



## CanOz (6 March 2007)

I'm still on the sidelines, partly because of PC issues but more so due to the volitility that i cannot profit from. I learned my May lesson well, and i am like a sponge now, soaking up some of the best threads i've seen since i joined ASF.

So much to learn before i could ever do this full time. So lucky to have a great job.

Good trading all,


----------



## nizar (6 March 2007)

MichaelD said:
			
		

> Will buy one tomorrow as well, very small position size.




Is the small position size because you want to allow for more downside ie. use a wider (than normal) stop ?

Just curious.


----------



## nizar (6 March 2007)

CanOz said:
			
		

> So much to learn before i could ever do this full time.




You and me both.


----------



## MichaelD (6 March 2007)

nizar said:
			
		

> Is the small position size because you want to allow for more downside ie. use a wider (than normal) stop ?



All is per the plan - yes the stop is wide, but it is wide because the volatility today was huge for this particular signal. As you're well aware, the wider the stop the smaller the position with fixed fractional position sizing. I'm still risking my standard short term 0.25% on the position.

I like plans, particularly during times like this - no need to think too hard about what to do, just do what I've worked out I should do whilst not under stress.


----------



## dj_420 (6 March 2007)

reduced position on one stock selling into strength, sold out of one stock completely looking for much cheaper re-entry.

around 40% cash now. still holding 4 positions. one JML i have held from 45 cents, considered selling but they have held up exceptionally well in zinc downturns and during correction. possibly due to takeover talks and the fact they are 2 months outside of production.

maybe reduce again tomorrow, i see one more big day before market falls over. again.


----------



## Kipp (6 March 2007)

dj_420 said:
			
		

> around 40% cash now. still holding 4 positions. one JML i have held from 45 cents, considered selling but they have held up exceptionally well in zinc downturns and during correction. possibly due to takeover talks and the fact they are 2 months outside of production.



No doubt you are mindful of the tax considerations too... Don't want too much of that profit to end up with the ATO...


----------



## cuttlefish (6 March 2007)

some selective buying today.


----------



## UMike (6 March 2007)

I'd Love to be buying. WES, WBC and WMT would of been my shares of choice.

Even SEN Perhaps.

Yesterday I couldn't help but buy CBH with every last penny I had. (which wasn't much).


----------



## nizar (6 March 2007)

MichaelD said:
			
		

> I'm still risking my standard short term 0.25% on the position.




I would love to risk that little per trade. If only I had several hundred thousand.


----------



## purple (7 March 2007)

I'm staying on the sidelines.

seems a little too soon for the volatility to end just like that. (just my gut feeling though)

The sell off originated from China. and at the moment China's ruling party is having their national congress (started Monday). so some important, price-influencing words might issue forth from that congress...you never know.

also, important US data out on Friday.

watching and waiting.


----------



## Gar (7 March 2007)

As am I, I dont see the need to jump straight back in untill the water is a little clearer.

There will still be just as many opportunities past this hurdle and I dont need the stress


----------



## Out Too Soon (7 March 2007)

I bought BSG & PDN yesty, was away from the PC today but left a sell on them @ abt 3% profit, they both sold so had a nice surprise when I came home.     
  Can't just sit & watch, gotta dabble a little, otherwise the portfolio is showing a paper loss except for PPY & GGP    & they're all long term, don't touch, smack fingers, be patient.


----------



## Wysiwyg (14 June 2007)

I think this is the right thread to pose  this question.

*Why do groups of traders sit in queue to sell?*

Myself am either* in or out *of a holding.Rarely do I queue to buy or sell.

I see sell queues like concrete blocks in some stock and I wonder how long some wait when

a) they could remove their sell and get a higher price (rather than joining the block crew to stop the rise )
b)sitting for an eternity and forcing the price down results in a longer wait (time isn`t an issue obviously) 
c)selling at a lower price than they were queued for (*because all the buyers have got the ****s and left)*

Any reasoning , I don`t understand.


----------



## nizar (14 June 2007)

Wysiwyg said:


> I think this is the right thread to pose  this question.
> 
> *Why do groups of traders sit in queue to sell?*
> 
> ...




Yeh im the same like you.
I dont wait in the depth.
For the timeframes i currently trade, 1 or 2 ticks isnt really relevant.

Even when i used to daytrade, i didnt muck around, just buy the ask, and when selling, sell to the bid.


----------



## Wysiwyg (14 June 2007)

nizar said:


> Yeh im the same like you.
> I dont wait in the depth.
> For the timeframes i currently trade, 1 or 2 ticks isnt really relevant.
> 
> Even when i used to daytrade, i didnt muck around, just buy the ask, and when selling, sell to the bid.




Yep sitting just above the resistance line seems like a waste of time.If or when the price breaks through the resistance it will go higher and the sitters sell as the s.p. sails past them.after waiting for who knows how long.
I couldn`t sit in the sell queue for an indefinite time and sell as the run begins again.What a waste of time and missed opportunity.

I just don`t have that thought train i suppose.


----------



## clowboy (14 June 2007)

Yea,

But remember you can only do that if there is a que,

No que, no selling into it, or buying into it.


----------



## Wysiwyg (14 June 2007)

clowboy said:


> Yea,
> 
> But remember you can only do that if there is a que,
> 
> No que, no selling into it, or buying into it.




I see what you are saying clowboy but I see a lot of stock go stale with determined resistance to the share price movement.

These are worth avoiding in my opinion.


----------



## Buffettology (15 June 2007)

Buying, bought back into TOL after I sold at $14.  

Bought BKL, BXB, SDG, JST.  Made about 5%.

In the process of selling now, will have about 50/50 cash/stocks.  Though I think the bull market will continue until the last quarter this calendar year at least.


----------

