I just sell my own stock. Usually, I sell half my holding, sometimes more, sometimes less depending on which way the stock seems to be moving. As I am in a fairly big $ losing position I am not prepared to take the risk of selling all with the hope of buying back lower. The rest is my hedge to sell at a higher price. It comes with a lot of risk and balls. It is generally at the open or shortly thereafter that I will short. Today I felt it was in favour of traders that wanted to sell and buy back later. As mentioned previously, US Coal stocks on Friday night hammered and Coking coal price was down over 3%. All ords was down (although this does not necessarily affect Coal stocks) In saying all this, i have been caught out at times and sometimes try and outplay the market (bots). I have had to spend more money to retain the same holding. It has not happened for a while.
Between 400pm and 4.10pm is the auction period. Many times on bad days you will get the low of the day or fairly close. Like today. If WHC continues to fall tomorrow I may do same thing. The figures I worked out gives me a lot of confidence of where WHC could be in a month, 6 months, a year etc.
WHC Price at posting:
$7.69 Sentiment: Buy Disclosure: Held
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