Effect of 9/11

[dutchie]

Does anyone have any experience on the affect 9/11 had on a particular stock - How long after the event did it start its fall? How much did it fall ? How long did it take to regain most of its losses.

Does anyone know which stock was affected the most?

 

[tech/a]

Airline stocks were belted I know that.

You mean here or the US?

 

[dutchie]

Tech - in oz.

I would imagine that the airlines would be hit doubly - in regard to safety of actually flying fears as well as the general world economic consequences (the main one being the supply of oil?).

 

[rozella]

Just looking back at my trades during the 9/11 period. I was in the buffer zone on all margin loans, & gradually sold down to almost no stocks prior to the US markets re-opening.....bit of a worry at that time, however, I was 100% back in the market within a few weeks, & October 2001 was & still is my best ever trading month, covering all September losses plus a good profit on top.

These are some of the trades.
Buy CBA 3rd August 2001 @ 3015.0, 7th August 3025.0, 10th August 3080.0
Sold all 17th September @ 2577.1

Buy SUN 13th August 2001 @ 1529.0
Sold 17th August @ 1105.0

Buy WFT 13th August 2001 @ 343.0
Sold 14th August @ 320.0

This one will shock you
Buy QAN 22nd August @ 284.0, & 24th August @ 294.0
Sold 11th September (our trading day prior to attack) @ 338.0
& the other parcel 14th September @ 341.0

Ansett collapsed sometime around then as well....maybe a couple of weeks later.

Re-enter SUN 21st September 2001 @ 1088.0
Sold 20th November @ 1327.0

Re-enter CBA 28th September 2001 @ 2585.0
Sold 18th October @ 2785.0

There is too many to list, but I had 14 purchases after 9/11 in September with 12 wins, & 19 purchases in October with 16 wins, (these are trading wins.....dividends not included)

 

[Fleeta]

I bought shares in WAM on open on 9/12 as they were 3% down. By the end of the day, they were up and by the end of 2001, they were nearly 20% up.

The company that took the biggest hit from 9/11 was an insurance company (can't remember which one - which was down 50%), but within a year it hit a 52 week high.

 

[dutchie]

Rozella, thanks for those trades for that period. Interesting results, especially QAN.

Thanks too Fleeta. QBE dropped from 10.24 on the 11th to 3.35 on the 20th (ouch!)