# What day of the week is best to SELL or BUY?



## youngone (10 January 2011)

Hi. 

What day should i buy or sell. I have 4 companies in my portfolio for the past 2 months. 

RXM, BSL, DML, CCC, 

They haven't been moving at all, so what day of the week is best to sell them?

Many have said Monday is best to buy, Friday is best to sell. true or false? 
explain? thanks


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## RamonR (10 January 2011)

I vaguely remember seeing something in the past that Monday afternoon is often the lowest point so good for buying.

But if I have a open trade I am generally willing to accept a lower price on Friday afternoon then I would on Monday.


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## Tysonboss1 (10 January 2011)

Between 10 - 4 monday to friday works best. except public holidays.


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## RamonR (10 January 2011)

In Queensland it is 9-3 pm in Summer


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## Tysonboss1 (10 January 2011)

youngone said:


> Hi.
> 
> I have 4 companies in my portfolio for the past 2 months.
> 
> ...




So you would have believed they were good companies and the price you were paying was fair before you bought them,

 Why sell them just because the share price has gone no where for 2 months? If these were companies in which you and your family had bought the entire business, would you still be thinking of selling them after only 2 months because a local business broker tells you that it is still only worth your purchase price?


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## Tysonboss1 (10 January 2011)

RamonR said:


> In Queensland it is 9-3 pm in Summer




Thats right, apparantly it stops your curtains fading .


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## burglar (10 January 2011)

Generally mid January is good  .... about Thursday this week!
Institutions come back from holidays and gives shares a bit of a hurry up ... generally speaking!

But don't believe burglars ... especially on the internet

DYOR


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## burglar (10 January 2011)

Tysonboss1 said:


> Thats right, apparantly it stops your curtains fading .




Tysonboss1,

This ain't the first time you make my day! 

burglar


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## Gringotts Bank (10 January 2011)

There used to be quite strong calendar biases, but I think they got exploited to the point of "no (%) return".  Hope you got the play on words.  If not, I think Friday afternoon is still a bit of a sell off time for a lot of short term traders.

CCC is looking strong, wouldn't sell that just yet.  Resistance at 87 - maybe put a sell order at 87 if you're desperate to get out today.


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## nioka (10 January 2011)

youngone said:


> Hi.
> Many have said Monday is best to buy, Friday is best to sell. true or false?
> explain? thanks




The reverse is usually the best. Years ago I started a thread "Buy Friday, Sell Monday or Tuesday" and I still believe it works more times than not.

Maybe it is the stocks that I like, which are a little speculative (Are there any others). Take LYC which is heavily traded and manipulated at this stage. There has only been the odd week lately that there has not been a good buy on the Friday that has allowed a good profit by Tuesday. This week is no exception.

However if you want to cash in a stock and a day or two doesn't matter then just put in a sell order at what you would expect the top of the range price to be. Surprising how many times it gets filled. Forget the day of the week.


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## nioka (10 January 2011)

Tysonboss1 said:


> Thats right, apparantly it stops your curtains fading .




Southerners never did get Joh's Queensland sense of dry humour. Just because queenslanders spell beer with four Xes doesnt mean that they are sensible enough to realise that daylight saving was designed for office workers that thing starting work before 9AM would be below their dignity.


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## youngone (10 January 2011)

ISF has been going downhill for a while, eekk..

Thanks everyone. The threat made my day 
Lots of funny and serious responses, beats boring Monday.


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## pma99 (10 January 2011)

youngone said:


> Hi.
> 
> What day should i buy or sell. I have 4 companies in my portfolio for the past 2 months.
> 
> ...




G'day Youngone

Do you have a trading plan, did you have a plan when you bought them ? Why do you want to sell them ?

Lots of others here who can give you much more info and better explanations than I can - if you haven't already done so, have a look at the following "all your questions answered" thread.... https://www.aussiestockforums.com/forums/showthread.php?t=14370

You could also try typing "trading plan" into the search and have a read - some good info there as well.

Cheers

Paul


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## glenn_r (10 January 2011)

youngone said:


> Hi.
> 
> What day should i buy or sell. I have 4 companies in my portfolio for the past 2 months.
> 
> ...





Stats on BSL indicate the best days to sell are Tuesday and buy on Friday DYOR.


Personally I would sell when my stop is breached.


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## burglar (10 January 2011)

glenn_r said:


> Stats on BSL indicate the best days to sell are Tuesday and buy on Friday DYOR.
> 
> 
> Personally I would sell when my stop is breached.




Such a sensible answer! 

Now I feel bad, having missed the serious intent of the question?!


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## youngone (11 January 2011)

glenn_r said:


> Stats on BSL indicate the best days to sell are Tuesday and buy on Friday DYOR.
> 
> 
> Personally I would sell when my stop is breached.




Thanks for the graph. The indication is spot on, however, i will hold it for a few more weeks and see how it goes. 

BSL has increased by 2% over the months, LYC has increased by 30%, I suppose it doesn't hurt to hold on seeing BSL has made a lot of noises lately. 

I have no game plan or strategy, as i don't even know how to read the graphs. So much to understand as a beginner. 

My mistake mistake atm, ISF is -42% over the months. That one got me really stumped.

What software do you recommend for beginners like myself.


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## white_crane (12 January 2011)

> My mistake mistake atm, ISF is -42% over the months.




That's not your mistake.

This is...


> I have no game plan or strategy


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## burglar (12 January 2011)

youngone said:


> So much to understand as a beginner.



Take baby steps.



youngone said:


> My mistake atm, ISF is -42% over the months.



The "reason" you bought these is more relevant than price.
If you thought they can't go down much more, many have made that mistake.

ASX Reports for 2010 -> 
http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=isf&timeframe=Y&year=2010

Did you read any reports?
Did you check their accounts in Annual Report?
You know, "CASH IN BANK"  or in this case, Debt levels!
If you didn't look, or didn't understand, or didn't know they were there, you need a mentor

Big Red Flag: 
http://www.asx.com.au/asxpdf/20101214/pdf/31vl2y77cnm5t1.pdf
Do not Buy



youngone said:


> What software do you recommend for beginners like myself.



! To really f#$k things up, you need a computer!


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