# Cancelling a sell order



## makybe04 (6 September 2010)

As a noob i sold a stock on Friday as I needed a bit of cash. Unfortunately it went up around 40% today and i bought back in early this morning. I know I'm probably being a bit crazy but is there anyway i can cancel a sell order after it has been filled. I am with Comsec and the order doesn't come into my account until 3 days later. 
One positive out of today was that i learnt a lesson about letting my profits run!


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## Gringotts Bank (6 September 2010)

Only if it's in the closing auction do you get a chance to remove it.  Once sold it's sold.  But I think you knew that already.


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## tech/a (6 September 2010)

makybe04 said:


> As a noob i sold a stock on Friday as I needed a bit of cash. Unfortunately it went up around 40% today and i bought back in early this morning. I know I'm probably being a bit crazy but is there anyway i can cancel a sell order after it has been filled. I am with Comsec and the order doesn't come into my account until 3 days later.
> *One positive out of today was that i learnt a lesson about letting my profits run!*




No you didnt.

You made a decision on Friday which at the time was correct.(You needed the money)
Its only in* HINDSITE *you *think* youve made the wrong decision.


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## makybe04 (6 September 2010)

As I'm only really newish to the game, today really annoyed me. Didn't help by the taunting from my housemate! I guess theres no harm in taking a profit, the amount of money that I've got invested isn't much anyway. I learnt a good lesson, maybe even lower my stop losses a bit lower for the volatile shares. The company that I'm talking about is NTU. I guess i just had no way of really forecasting todays events, should of known by the large volume of late and the chart was so good.


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## nioka (6 September 2010)

makybe04 said:


> As a noob i sold a stock on Friday as I needed a bit of cash. Unfortunately it went up around 40% today and i bought back in early this morning. I know I'm probably being a bit crazy but is there anyway i can cancel a sell order after it has been filled. I am with Comsec and the order doesn't come into my account until 3 days later.
> One positive out of today was that i learnt a lesson about letting my profits run!




How bad did you need the cash if you bought back in today. No cash will change hands unless you spent less buying back than you will recieve from the sale.

There is no cooling off period if you make a decision to buy or sell and the offer is accepted.


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## makybe04 (6 September 2010)

nioka said:


> How bad did you need the cash if you bought back in today. No cash will change hands unless you spent less buying back than you will recieve from the sale.




Could you just explain that for me?

I sold only $580 worth on Friday and today I bought back in, with about $620. I didn't need it that bad, it was probably a stupid thing to sell. I was going to use the money to restructure my portfolio and buy into a bluechip.


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## tech/a (6 September 2010)

makybe04 said:


> Could you just explain that for me?
> 
> I sold only $580 worth on Friday and today I bought back in, with about $620. I didn't need it that bad, it was probably a stupid thing to sell. I was going to use the money to restructure my portfolio and buy into a bluechip.




Hope you didnt buy in toward the top.
This stock is highly likely to have an inside day tommorow.
Days range within the body of todays bar.
Highly likely to tank.
Infact Id go so far as suggesting < 19-23c to be a little more specific by this time next week.

Afraid your about to learn another lesson.


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## Huitzii (6 September 2010)

tech/a said:


> Hope you didnt buy in toward the top.
> This stock is highly likely to have an inside day tommorow.
> Days range within the body of todays bar.
> Highly likely to tank.
> ...




Not so funny for me aswell.
I've been waiting for NTU to come down to about .21c .
Today I missed the boat, but im sure there will be another opportunity present itself in the next week or 2.
I watched it go UP UP UP today and just shook my head lol
Never mind ....on the bright note I didn't loose anything so I suppose its all good


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## nioka (6 September 2010)

I can't see where the particular stock has been mentioned but I assume it was NTU. There must be some fundamental reason for the sudden rush of which I was happy to be a part of. Luckily at open. I can see no reason why the SP will not hold up reasonably well. The association of Lynas with the company is a plus and I doubt we have heard all the story there at this stage. I wouldn't be game to sell now hoping to buy back cheaper in a week or two. The price today includes rights.


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## Huitzii (6 September 2010)

nioka said:


> I can't see where the particular stock has been mentioned but I assume it was NTU. There must be some fundamental reason for the sudden rush of which I was happy to be a part of. Luckily at open. I can see no reason why the SP will not hold up reasonably well. The association of Lynas with the company is a plus and I doubt we have heard all the story there at this stage. I wouldn't be game to sell now hoping to buy back cheaper in a week or two. The price today includes rights.




This was noted as NTU in post 4 in this thread


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## makybe04 (7 September 2010)

Should be an interesting day... I've got a pretty close stop loss in to protect my money.


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## Logique (7 September 2010)

nioka said:


> I can't see where the particular stock has been mentioned but I assume it was NTU. There must be some fundamental reason for the sudden rush of which I was happy to be a part of.



Makybe4, don't beat yourself up too much. Stuff like this happens all the time.

I don't follow NTU, but as Nioka says, there must be some reason for a uranium stock to jump so rapidly. If you've done your research and believe in NTU then don't panic. Just make sure if it retraces, that you have a plan in place that best suits your situation.


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## tech/a (7 September 2010)

Logique said:


> Makybe4, don't beat yourself up too much. Stuff like this happens all the time.
> 
> I don't follow NTU, but as Nioka says, there must be some reason for a uranium stock to jump so rapidly.






http://www.stocknessmonster.com/news-item?S=NTU&E=ASX&N=504292

Maybe not!


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## nioka (7 September 2010)

tech/a said:


> http://www.stocknessmonster.com/news-item?S=NTU&E=ASX&N=504292
> 
> Maybe not!




The company is often the last to know and then there is the Shultz position.


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## Logique (7 September 2010)

A speeding ticket, should be some interesting days ahead. 
Just checked the market depth on pre-open, still heavily weighted to buyers.


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## tech/a (7 September 2010)

Noika

You could be right.

Being a techie I dont even know what the codes stand for!
From a purley technical point of view this looks extremely weak in the very near future (Couple of days). I personally wouldnt be buying and would have sold if I was on it yesterday.

But many will and do disagree.



> Just checked the market depth on pre-open, still heavily weighted to buyers




I predict!
Early strong buying
Then the rug will be pulled out faster than you can say Oh Cr@p.

Currently trading Futures so dont have my live stock feed---a 3 min chart would be interesting.
You'll see the turn clearly on it.


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## makybe04 (7 September 2010)

I'm considering selling over the next few days, what are peoples thoughts on this? I'm basing this on the fact that buyer demand will decrease once the share issue rights offer is no longer on offer.


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## skyQuake (7 September 2010)

The oppies are trading at a large discount - this usually means the move is pretty much over...
eg. NTUOB


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## makybe04 (7 September 2010)

what are your thoughts on sp increasing tomorrow and over the next few days, or is today the top?


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## KurwaJegoMac (7 September 2010)

skyQuake said:


> The oppies are trading at a large discount - this usually means the move is pretty much over...
> eg. NTUOB




My thoughts exactly. If someone really knew that something good was going on, they would have accumulated and driven this stock up 30-40% before the rights issue. 

My guess it's a bunch of momo's. I'm not liking the look of the market depth - sellers are quite high at the upper half of $0.3, probably will come crashing down soon. Closed out all my holdings today as a result, will buy back on the dip (if it happens) if not... well then i'll exercise my rights so I still come out quite well


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## tech/a (7 September 2010)

For those of you interested in a technical view.
This is likely to meander (now) down to 25c ish
and not do a great deal for sometime.
The resistance zone is likley to prove very difficult to
crack.Any move towards this area (Resistance zone) on less than average volume is
a sign of strength. Increased volume is a sure sign of supply!!(weakness)


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## makybe04 (8 September 2010)

Thanks for the help guys, I sold yesterday and put the money into KCN. Luckily the NTU situation didn't really lose me anything and i learnt a great deal from it. It was a good lesson on how to keep my emotions in check and stick to the plan that i have.


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## tech/a (8 September 2010)

> I sold yesterday




You dont say.


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## Logique (14 September 2010)

NTU put on a lazy +21% today, back up to .285. Something going on, weren't they chasing rare earths, as well as uranium?


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