# Who sold yesterday?  Or bought anything?



## Realist (1 March 2007)

There were billions of trades worldwide yesterday, did you sell anything? If so what and why?

Or did you buy anything?  

I did nothing but watch my Commsuck account plummet.


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## theasxgorilla (1 March 2007)

I'm holding about 9 positions (1 short term, 1 long term, 7 medium term) and I didn't sell a thing.  I literally sat back, watched the fireworks, and had fun on the forums 

Naturally my account is worth less today than it was last Friday, but to take one of my fav'd quotes from the book "Reminiscences of a Stock Operator":

"It's a bull market, don't you know!??!"

The ASX Gorilla.


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## nizar (1 March 2007)

Realist said:
			
		

> There were billions of trades worldwide yesterday, did you sell anything? If so what and why?
> 
> Or did you buy anything?
> 
> I did nothing but watch my Commsuck account plummet.





Stopped out of 2 positions yesterday.
DIdnt buy anything.


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## mrWoodo (1 March 2007)

Repeatedly logged in from 9:30 to 10:45 on my nab account, trying to cancel my stops. Incredibly painful stuff with their site logging me out constantly, one by one I got there except for the last one I couldn't cancel in time (MDL, lost 10% and today it bounces right back!)  Do I have a case to sue them re. service levels ?    All my stops were set to ignore the first 45 min trading, which is probably just as well.

Bought into SGL@0.36, yesterday whoever got it at 0.325, pretty good going as it's 0.385 currently. Trying to buy was just as painfull, took 20 min just to place the order


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## cuttlefish (1 March 2007)

Sold down quite a bit on the spec base metals holdings - some in morning some in afternoon, had also sold some of these the day before as well.

Be curious to know who's selling into todays bounce - not many I bet.


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## exgeo (1 March 2007)

Didn't trade at all. If China actually does hit the wall (economy slows, that kind of thing) I'll be the first out of the door. That didn't happen yesterday. Didn't make a trade yesterday, although I'd have topped up the base metal and uranium holdings if I had any spare money. Regarding Reminiscences of a Stock Operator, it's amazing how little things have changed since the 1920's, other than the systems used to execute trades and deliver information! Still useful today.


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## djones (1 March 2007)

Bought MTN at $3.50 now its at $3.80. Sold Nothing, all shares I own are up from yesterday.


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## greggy (1 March 2007)

djones said:
			
		

> Bought MTN at $3.50 now its at $3.80. Sold Nothing, all shares I own are up from yesterday.



Sold nothing, bought a lot of HCY when its price was at its worst.
DYOR


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## djones (1 March 2007)

djones said:
			
		

> Bought MTN at $3.50 now its at $3.80. Sold Nothing, all shares I own are up from yesterday.




Out just now at $3.82 and happy. Was a bit of a risk because I didnt have the money to settle the trade and would of had to sell other shares should it have gone bad, i just used the fact my broker has T+3 days to pay


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## greggy (1 March 2007)

djones said:
			
		

> Out just now at $3.82 and happy. Was a bit of a risk because I didnt have the money to settle the trade and would of had to sell other shares should it have gone bad, i just used the fact my broker has T+3 days to pay



Congratulations on your quick turnaround.  Risky though, I generally don't gamble with money I don't have.
DYOR


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## Out Too Soon (1 March 2007)

Hi Realist, good thread!  
               I typically missed all the fun but my mobile was goin' nuts with all the SMS alerts!  . Good thing anyway I'd have been stressin'  
I've been burnt before using stops, learnt my lesson & nearly never use them. 
To see what I bought & sold this morning tho see the "what will happen tomorrow thread" picked up a lot of bargains this morning that I would have been to scared to do yesty anyway.  

For all you proponents of stops, go ahead & keep using them, someones gotta lose money for the rest of us to make some. :


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## Prospector (1 March 2007)

mrWoodo said:
			
		

> Repeatedly logged in from 9:30 to 10:45 on my nab account, trying to cancel my stops. Incredibly painful stuff with their site logging me out constantly, one by one I got there except for the last one I couldn't cancel in time (MDL, lost 10% and today it bounces right back!)  Do I have a case to sue them re. service levels ?    All my stops were set to ignore the first 45 min trading, which is probably just as well.
> 
> Bought into SGL@0.36, yesterday whoever got it at 0.325, pretty good going as it's 0.385 currently. Trying to buy was just as painfull, took 20 min just to place the order




NAB has stops?  And you can ignore the first 45 minutes?  How do you do that...


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## Realist (1 March 2007)

Out Too Soon said:
			
		

> Hi Realist, good thread!
> I typically missed all the fun but my mobile was goin' nuts with all the SMS alerts!  . Good thing anyway I'd have been stressin'
> I've been burnt before using stops, learnt my lesson & nearly never use them.
> To see what I bought & sold this morning tho see the "what will happen tomorrow thread" picked up a lot of bargains this morning that I would have been to scared to do yesty anyway.
> ...




I agree about stops.  I think alot of the billions of trades yesterday were made because of stops. And alot of people will have lost alot of money, and spent alot on brokerage. For nothing really..


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## Kauri (1 March 2007)

Realist said:
			
		

> I agree about stops. I think alot of the billions of trades yesterday were made because of stops. And alot of people will have lost alot of money, and spent alot on brokerage. For nothing really..




  Do non-guaranteed stops that are gapped through go off???


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## Halba (1 March 2007)

this mkt has burned me!!

 

i panicked and sold my DMX today, terrible company

bought 1 company yest BKN, but its going down like the rest of the mkt


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## Realist (1 March 2007)

Kauri said:
			
		

> Do non-guaranteed stops that are gapped through go off???





What is a non-guaranteed stop?

Are you saying some stocks dropped so much they flew past the stop without the stop being hit?
 .


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## petee (1 March 2007)

Halba said:
			
		

> this mkt has burned me!!
> 
> 
> 
> ...



hi Halba..i know nothing about DMX but checked the graph it has risen from 20cents to the levels now in less than 1 year...surely u did well on that???


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## Halba (1 March 2007)

nup! bought high 90s


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## Kauri (1 March 2007)

Realist said:
			
		

> What is a non-guaranteed stop?
> 
> Are you saying some stocks dropped so much they flew past the stop without the stop being hit?
> .





  Yes


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## Freeballinginawetsuit (1 March 2007)

U should clarify that with usually on the open, a stop on intraday trade with BHP would usually get matched


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## Realist (1 March 2007)

Kauri said:
			
		

> Yes




On BHP!  Was that just an example?


You do not need a stop on BHP. Having one is silly and only going to cause problems for you.

If BHP goes under in the next 5 years I'll run around Bondi beach in a pink bikini yelling "I wish was a little girl" for 33 hours.


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## Kauri (1 March 2007)

Realist said:
			
		

> On BHP! Was that just an example?
> 
> 
> You do not need a stop on BHP. Having one is silly and only going to cause problems for you.
> ...




  Most shares gapped down yesterday, BHP was only an example.My thoughts on not having stops on long term investments like yours is fine, but in the shorter term  not having stops is what turns traders into involuntary investors. 




> If BHP goes under in the next 5 years I'll run around Bondi beach in a pink bikini yelling "I wish was a little girl" for 33 hours.



  I think I might have seen you...


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## Prospector (1 March 2007)

Realist said:
			
		

> If BHP goes under in the next 5 years I'll run around Bondi beach in a pink bikini yelling "I wish was a little girl" for 33 hours.




It might just be worth it!

I used to say the same thing about various companies, but then along came:

Ansett, HIH, State Bank (SA),.........


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## wayneL (1 March 2007)

Realist said:
			
		

> There were billions of trades worldwide yesterday, did you sell anything? If so what and why?
> 
> Or did you buy anything?




This is not to skite or be critical of long only investors/traders, but for swing/day/options/futures traders it is business as per usual really.

A bit of added excitement because of the wide ranging day, but bsaically normal activity for me.

Cheers


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## Garpal Gumnut (2 March 2007)

Prospector said:
			
		

> It might just be worth it!
> 
> I used to say the same thing about various companies, but then along came:
> 
> Ansett, HIH, State Bank (SA),.........




Yes a reasonable statement, 

I had a mate who bought HIH on "weakness"" all the way down to its delisting.

Unlikely to happen to BHP, but one should have a stop loss even on the most "trustworthy" of shares.

Garpal


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## nat (2 March 2007)

hi closed a one day short on wbc yes ,went long org then ,NAthan


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## Halba (2 March 2007)

BHP you shouldn't use stop as most of the time it will get hit. Just buy and hold with a couple of months view.


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## vida (2 March 2007)

Yes I panicked when the market opened and made a sell order at markte for  my holding of BTC at .13 - which I had intended to keep for at least a year.  Then I changed my mind  as the stock dropped to .115 and thinking it was going to keep diving, I changed my sell at .13 to sell at market. Then I realised I was panicking and decided that was not a good time to make decisions and attempted to cancel my sell order but it was too late. I could not get onto the site, it was soo busy, and then I got email advising my sale went through at .115 and since then the stock has returned to pre-china syndrome levels of between 15 cents to 17 cents : and I am so peeved..!!


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## 2020hindsight (2 March 2007)

Garpal Gumnut said:
			
		

> Unlikely to happen to BHP



I think we agree for once Garpal - but speaking generally..
If BHP crash, I'll be able to tell my grandkids 







> "I lost the last remaining "fortunes" during 2007's BHP crash!!



Under these circumstances, I think they'll understand.   

(They're gonna wonder what happened to the rest lol - but that's between me and my memories)

Mind you - today I sold everything - even FMG - which promptly went up 5% 

Ps my grandkids will be too interested watching Realist on the news running around Bondi in a bikini lol.

PPS On the question of a man's capacity to withstand the "slings and arrows of outrageous fortune", I am reminded of the story of Kerry Packer - gambling in Vegas ( as I recall the story) - bloke beside him says " hey, you aussie smartass, you pay me some respect!! - I'm worth 5 million !!!" - 
and Kerry turned - and looked at him - and calmly said ...

"toss you for em"   

relevance? - I aint Kerry Packer lol. - but I plan to get in again "in a week or so


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## Out Too Soon (4 March 2007)

Garpal Gumnut said:
			
		

> Yes a reasonable statement,
> 
> I had a mate who bought HIH on "weakness"" all the way down to its delisting.
> 
> ...




Hi Garpal, my position/ideas on stop losses at present is that if you hold 10 stocks (say 10% of holdings ea) & they all drop but you hold them until they're ahead (by say 12%) but one of them does a HIH (10% of your holdings) then you're still ahead. Just takes bravery & patience if it's a drawn out correction.  This is a simplistic example but it works!


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## mmmmining (5 March 2007)

exgeo said:
			
		

> Regarding Reminiscences of a Stock Operator




I have the book in MP3. It is so fun to listen, help me a lot in difficult time.


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## purple (5 March 2007)

i didn't buy, nor sell, all i did was squint because the reflection off the sea was blinding


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