Dont you just hate that?

[chilliaa]

It doesn't matter, but I generally try to explain my reasoning and the back and forth got quite tedious on sites like HC, InvestorWeb etc especially since the posters on those sites tend to be much more aggressive in their posting temperament. I just got fed up.

Sold out of my last two small stocks this week (COF & CCV) for a profit cos I didn't like their recent announcements. Now just holding blue chips (CSL, MTS, QBE, SHL etc) but these aren't for trading, long term portfolio.

I think you will find the main point of contention is when traders and investors are discussing the same stock. The two viewpoints are analysed from different angles.

The most dangerous group in my opinion are people who think they are investors but are actually subconsiously traders. Because they refer to themselves as investors, they dont implement mandatory trading rules, and often end up blowing themselves up.

By the way thanks for your support over the last 18 months (and to Blue Card, KY etc), it was getting pretty lonesome being a value based investor, especially towards the final stages in early 2009.

 

[boods99]

Great thread everyone!
Hopefully this keeps going as there has been some valuble information thus far.
I have just applied for my Commsec account and waiting for them to get back to me with the all systems go! Quite nerve wracking, but will only start with small trades just until I get the hang of it and form my own system.

Agree with the point about paper trading, it would be like playing poker for no money!...all in every time!

Boods

 

[shuggy]

No worries. I hope people can benefit from my posts, tips and all. How many did you buy?

i'm not as minted as you atm so i bought 2000 pieces

But you could have said thanks for the tip instead of putting a grin face because you bought it cheaper than me.

what part of "Thanks for the tip, i bought some at 8.67 this morning" did you not understand me saying thanks for the tip?

Yeah i bought it cheaper than you mentioned but i wasn't one of those guys that picked it up for 2.32 5 months ago

cheers and thanks again for the tip.
It's great when people have the balls to actually mention some ASX codes so others can then do a bit of research. Keep up the good work [insert smilie face, i have used more than 5 in this post and it must have also included the quoted ones]

steveadl: i think SS is different because it's such a small board with only a few hundred active members and any 'tips' could hardly be described as ramping. The other boards you describe yes you will be ripped to shreds but peoperty investors are generally pretty simple folk who don't get stressed out as much. You'll notice all stock discussion here goes in the 'coffee lounge' which confirms this board doesn't really care about stocks.
As evand said, don't worry about what others think. Buy them and then name them , there's not enough people on here to worry about it or criticise you.

 

[shuggy]

Thanks for the tip. I just checked it out and it looks a ripper, hopefully has more steam too. I will do some research and also try to find this list from Chilliiaa.

Hi & thanks, everyone. I remember Chilliiaa posting a list of stocks & I printed it out with special marks against FXL. I didn't follow through, what a fool!

But it's true we do our own thing though we love to hear what others do.

And Joanmc, I'm experiencing the same incredulous disbelief that it's happening.

Good luck,

KY

 

[joanmc]

I have had the same response as Steveadl in other forums. I don't know anyone who trades for a living and went looking just to be able to chat with others. Just to share things like "OMG I had a great trade today" or even "bloody hell had to take a giant loss" and I got hammered on the forum. They were so grumpy! I much prefer this one. At least here people seem to be more accepting that there are many ways to wealth.

 

[The Fence]

Oh oh.....the tips are coming ......you know what that means..... lol

Yes, what is it with those aggressive types on stock forums...fairdinkum...you'd think it was life and death stuff....

here's a tip....ANN.....do people still use condoms in depressions....?

 

[Morgs]

Sales in the lubricant category are signficiantly down vs YA

 

[chilliaa]

Thanks for the tip. I just checked it out and it looks a ripper, hopefully has more steam too. I will do some research and also try to find this list from Chilliiaa.

That list was not a tip sheet, just a list of stocks i had acquired by march or april 09. You are best off reading the whole thread so you dont take things out of context.

The thread was here:
http://www.somersoft.com/forums/showthread.php?t=50844

I also want to emphasise two points to newbies considering shares:
1) be careful of tips, you need to justify in your own mind why you are buying a share, not just because you heard about it as a tip. If you cant justify in your own mind why you bought it, you will not have the mental fortitude to act intelligently if the stock price goes against you.

2) make it very clear in your own mind whether you are a trader or an investor in shares. There are very different rules governing each type of person.

 

[kum yin lau]

Hi, now that's what I call fascinating reading.

Can't wait to see what tomorrow brings.

KY

 

[evand]

No worries, i just saw the 'grin' icon on the end.

I've been in and out of MCC on its rise as i am with a lot of stocks. I know you are probably thinking 'why don't you just hold it?" Well sometimes i do and i do have stocks that i have held for months. Plus i have a portfolio of div paying blue chips that i just leave and check on occasionally.

But at the moment i don't trust this rally so i'm concentrating on shorter term trading. I think its getting a bit toppy and skittish.

In the end the difference isn't huge as the Comsec fees are very low.

Should be a fun day today.

Yeah i bought it cheaper than you mentioned but i wasn't one of those guys that picked it up for 2.32 5 months ago

cheers and thanks again for the tip.

 

[boods99]

My Commsec account is up and running!! Been browsing though it for the last couple of hours familiarising myself with the set up.
Does any one know where I can access these "live time" prices as I'm not sure I have access to them.

Boods

 

[evand]

When you log into your account and type in a share code, its a live price.

Next thing you need to do is understand the market depth. It shows all the buyers and sellers lined up and gives a good indication which direction the price will go short term.

My Commsec account is up and running!! Been browsing though it for the last couple of hours familiarising myself with the set up.
Does any one know where I can access these "live time" prices as I'm not sure I have access to them.

Boods

 

[boods99]

When you log into your account and type in a share code, its a live price.

Next thing you need to do is understand the market depth. It shows all the buyers and sellers lined up and gives a good indication which direction the price will go short term.

Market Depth...OK. Will need to get my head around this tonight after the kids have gone to bed!

 

[boods99]

Evand,
in summary, is market depth;
The list of buyers (or sellers)- is this actually a list of buyers (or sellers) that have lodged their required prices eg, for MCC at the moment the first in the buy list is;
Number 1
Quantity 841
Price 9.220

Does this mean there is 1 person who wants to buy 841 shares at $9.22 per share??

Boods

 

[The Fence]

Does this mean there is 1 person who wants to buy 841 shares at $9.22 per share??

If I may.....Yep, spot on...

And just hit refresh to update the live price....

I actually find the Commsec site a bit of hard labour compared to the Westpac trading site...but I am getting more aquainted with things at CommSec as I use it more and more....

Big day today folks...roll up roll up...get your shares, roll up.....I'm selling

 

[evand]

As Thorpey says, yep that's right. Its a bit out whack sometimes until the market opens and that a particular share starts trading.

When the price was rising for eg MCC last Monday there were 4 time the amount of buyers as sellers. During the morning i could see the sellers coming in as the seller side was increasing to app. half the buyers and the price levelled out and stopped rising. Even to the point of falling a bit.

You can see it coming before the price rising stops. Or vice versa when the buyers pour in, you know the price is going to rise before it actually does. It will take you a while to get your head around it tho.

Evand,
in summary, is market depth;
The list of buyers (or sellers)- is this actually a list of buyers (or sellers) that have lodged their required prices eg, for MCC at the moment the first in the buy list is;
Number 1
Quantity 841
Price 9.220

Does this mean there is 1 person who wants to buy 841 shares at $9.22 per share??

Boods

 

[boods99]

Thanks for the replies guys...exciting day tomoz with my new found trading knowledge. Probably wont buy anything for a while yet until i get a bit of confidence.
BTW - sorry to hijack the thread

Boods

 

[kum yin lau]

Hi boods, good idea to take it slow. I'd pay attention to what Thorpey has said. No reason other than that uneasiness that I call the 6th sense.

The futures indicator is down today. And we are very dependent on what happens overseas.

Hope you enjoy the experience,
KY

 

[GreatPig]

Personally I wouldn't read too much into market depth. Many people don't place their orders into the queues and it's easily manipulated.

There have been numerous times when I've seen large buy orders at the top of the bid queue and relatively small sell orders at the top of the offer queue and yet the price has still pushed relentlessly down (or vice-versa).

GP

 

[evand]

Yes it can be manipulated and i've seen (among other things) huge buy orders near the top and everyone gets excited and then they disappear. You have to know what to look for and play the game. It's all fun. Beats a J.O.B. hands down

But generally, i call it the 'bulge'. You have to look at what price the bulk of the numbers are and know the price will get stuck there for a while till it transacts past that. That's why you should always go for high volume stocks. Know wot i mean?

And yes, boods, take it slow mate. Play around for a while. Trade small and see how it goes and slowly increase.

And shuggy, you could have made a lazy $1320 yesterday by lunchtime with MCC. Did you sell?

Personally I wouldn't read too much into market depth. Many people don't place their orders into the queues and it's easily manipulated.

There have been numerous times when I've seen large buy orders at the top of the bid queue and relatively small sell orders at the top of the offer queue and yet the price has still pushed relentlessly down (or vice-versa).

GP