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Have i been shaking out of ITL?
adamt
Posts: 199 Forumite
Hi,
I bought ITL at 119 last week, with a stop at 107.
But this morning i was stopped out at 108.75, as 106 was hit as few minutes before.
I have checked the news wires and there is nothing negative happening with ITL, so was this a 'tree shake' ?
I might buy back in now as the prices is rising and more people are buying in
But the annoying thing is that they only sold 939, so i still have 70 active shares, so i will have to pay the £10 commission when i sell this small amount!
I bought ITL at 119 last week, with a stop at 107.
But this morning i was stopped out at 108.75, as 106 was hit as few minutes before.
I have checked the news wires and there is nothing negative happening with ITL, so was this a 'tree shake' ?
I might buy back in now as the prices is rising and more people are buying in
But the annoying thing is that they only sold 939, so i still have 70 active shares, so i will have to pay the £10 commission when i sell this small amount!
0
Comments
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It depends how your stop is structured, some allow you to identify a stop with a margin around the where it is effective.I bought ITL at 119 last week, with a stop at 107.
But this morning i was stopped out at 108.75, as 106 was hit as few minutes before.
Possibly but you'll only know after the fact. Although, the SP of ITL does seem quite volatile, i.e. over the last week you have had a number of daily price fluctuations of around 10p. So, maybe your stop/loss wasn't set appropriately wide enough, or if you feel it was perhaps the stock is way more volatile than your own risk preference can accomodate?I have checked the news wires and there is nothing negative happening with ITL, so was this a 'tree shake' ?
Normally a stop/loss will sell all your holdings at (or as near) to a pre-determined price. The fact that it sold most is confusing unless your provider allowed you to identify a percentage/number to sell at the stop/loss?But the annoying thing is that they only sold 939, so i still have 70 active shares, so i will have to pay the £10 commission when i sell this small amount!Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Your original purchase was bad - nothing wrong with that, you have to accept a lot will go wrong. You now have to step back and make a fresh decision. Is this the right company to buy now, or is there something else better to buy. The worst mistake you can make now is to say the share owes you 10%, and buy it back just to boost your ego.0
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Why did you buy it in the first place ?
Do those reasons still hold ?0 -
Possibly but you'll only know after the fact. Although, the SP of ITL does seem quite volatile, i.e. over the last week you have had a number of daily price fluctuations of around 10p. So, maybe your stop/loss wasn't set appropriately wide enough, or if you feel it was perhaps the stock is way more volatile than your own risk preference can accomodate?
Good point, i did just use a 10% figure and didn't consider the 'resistance' levels , which i should have.
Its all good learningNormally a stop/loss will sell all your holdings at (or as near) to a pre-determined price. The fact that it sold most is confusing unless your provider allowed you to identify a percentage/number to sell at the stop/loss?
I spoke to Interactive Invester - my broker, and they said its based on how much the other person wants to buy.
In this case they could only find buyer/s for 939 shares , so thats all they could sell.
I think next time i will do all the selling , as its not worth, for the sake of laziness, selling like 99% of my shares, so i then have to pay a further £20 in commission to sell a tiny amount of shares
Thanks0 -
Your original purchase was bad - nothing wrong with that, you have to accept a lot will go wrong. You now have to step back and make a fresh decision. Is this the right company to buy now, or is there something else better to buy. The worst mistake you can make now is to say the share owes you 10%, and buy it back just to boost your ego.
I dont think it was, but i will accept things do go wrong.
I agree i will not get emotionally attached, i just feel there was no reason for the price to drop so quickly besides a tree-shakr.
For this reason i think re-investing the money would not be a problem.
However if this is not simply a tree shake then it wouldnt be worth re-investing.Why did you buy it in the first place ?
Do those reasons still hold ?
Absolutely, nothing has changed in the company to make me want to sell.0 -
"I dont think it was" - well it was wrong, because the price went down. That's what being wrong means.
why did you buy it in the first place ?0 -
"I dont think it was" - well it was wrong, because the price went down. That's what being wrong means.
why did you buy it in the first place ?
has strong financials
uptrend over the last 6 months from 45p
released very good statement
bid rumours
Is that ok?
ok read your reply wrong0 -
Its not me thats telling you are wrong - the market is. I'm merely pointing out the reality - don't shoot the messenger
has strong financials - old news
uptrend over the last 6 months from 45p - correct, but at what price is it no longer in an uptrend ? If this is a big part of why you bought it, thats where your stop loss should be
released very good statement - old news
bid rumours - is it fully discounted in the price ? What happens if no bid materialises ?0 -
A tad harsh........"I dont think it was" - well it was wrong, because the price went down. That's what being wrong means.
why did you buy it in the first place ?
adamt, Possibly you should have reviewed the charts a bit more before making the purchase. I know its always easy after the fact but...... If you look at the chart below......:
http://www.iii.co.uk/investment/detail?code=cotn:ITL.L&display=chart&it=le
You'll see that:- Historically ITL has returned to its 50 day SMA average during the recent trend
- From the RSI its been over bought for a while (although shares can stay up in this area for a while it may not be the best place to make a purchase)
- The MACD has just crossed down (negative), although there is still the possibility the MACD trend can bounce off the up trend (if you look at touch points 14th-21st Sept and 5th-12th Oct)
- MACD histograme has also been in decline
You also need to factor in that generally the markets are having a bit of a breather / going south period.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Its not me that's harsh - its the market. It tells you when you are wrong. Markets are no places for egos, and for worrying about being proven wrong.0
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