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Author Topic: Taking Profts With A Large Position.
dodo
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I have several large positions and I'm curious how you guys get out of a position without the price dropping.

Do you put one large sale order in? AON or not?

Do you put a few sale orders in? AON or not?

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Machiavelli
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depends on a stock's float/outstanding shares to me... and what you consider a large position... if a company has so many shares.. what you consider a large position might not move the stock price much if at all.. give us a example of a stock you have and how many shares you have etc.. big institutional buyers/sellers like mutual funds try to do a few small trades at a time to mask what they are doing and as to not affect the price of the stock before everyone catches on.. they are called the AXE in daytrading jargon... now mutual funds seriously have large positions.. so like i said your definition of a large position compared to a mutual fund's large position most likely differs alot...

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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dodo
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I mainly trade Pink Sheets and OCTBB. What seems large to me might be small to a lot of you but it seems that when I place the order the bid and ask move.

One example that a lot of people are trading now is PLNI. I've been buying and selling it a few times, about a million shares at a time.

Most of the time I try to buy on the bid and sell on the ask to see if I get a nibble. If I don't get ma hit I move the other way until it goes.

Thanks for your help.

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Runamuck
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depends on volume also...

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You wouldn't have the opportunity to be such an idiot...

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Machiavelli
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I can't even find the shares outstanding for PLNI nor nothin much of anything else on it... whats the float/outstanding on it?

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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dodo
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Outstanding Shares: 1,440,486,371 as of 2004-11-15

Estimated Market Cap: Not Available
Authorized Shares: 2,000,000,000 as of 2004-11-15
Number of Shareholders of Record: 693 as of 2004-11-15


Current Capital Change:
shs increased by 8 for 1 split
Ex-Date: 2004-02-11
Record Date: 2004-01-30
Pay Date: 2004-02-10

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Machiavelli
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ahh no wonder the price dont move much.. thats a very high amount of shares..

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Runamuck
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2 billion A/S 1.6 billion held by Turek and family float is something like 420 million..

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You wouldn't have the opportunity to be such an idiot...

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Machiavelli
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somewhere between 5 million to 30 million is a more suitable number.. a stock is more likely to move more and faster under those conditions... i used to like over 25 million but i have since rethought that...

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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dodo
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How would you recommend getting out of a position? AON? In increments? One large order?

Thanks for your input!

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Machiavelli
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If the stock is tanking and i need to get out as fast as i can.. Market... if not then Limit or Stop/loss..

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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dodo
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quote:
Originally posted by Machiavelli:
If the stock is tanking and i need to get out as fast as i can.. Market... if not then Limit or Stop/loss..

What if you are taking profits?
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Machiavelli
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Limit.. or just let the stock get "stopped" out...

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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kanalgeruch
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scottrade and lowtrades dont let me put stop loss orders on pennies. How are you all dealing with this?

I heard that choicetrade does let you do that. Is this actually correct?

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cbrf2
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man, u gotta see the volune of the day. If u have a large block, what i found to be easy is to sell in increments. thas the only way i can be filled to sell

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"I sell ice in the winter, i sell fire in hell, I AM A HUSTLA, BABY, i sell water to a well!"

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Machiavelli
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quote:
Originally posted by kanalgeruch:
scottrade and lowtrades dont let me put stop loss orders on pennies. How are you all dealing with this?

I heard that choicetrade does let you do that. Is this actually correct?

Yes it is correct about Choicetrade... ive repeated that they allow stop/losses on pennies (that includes stocks under $5 per share in Amex, NYSE, Nasdaq, OTCBB and Pinksheets) several times already on this board but people dont seem to believe me lol .. my reputation speaks for itself on this Forum/Board... you can ask others about me here in General Investing or in HotStocks Forum to clarify what I say... [Roll Eyes]

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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bdgee
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Mach....

Does that include stops for stocks with a price under a dollar?

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Machiavelli
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FOR THE MOTHER OF GOD YES IT DOES!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!! LOL .. right now i have a stop/loss for SVSE and it's at around .60 .....

[ July 08, 2005, 18:59: Message edited by: Bob Frey ]

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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bdgee
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Looks like I may have upset Mach... I surely didn't intend to.
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Machiavelli
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no u didnt.. it's just that i keep repeating myself on this topic dozens of times in the last month.. anyways u didnt upset me.. and yes they do take stop/losses for stocks under $1 in all exchanges... how far down under $1 i dont know.. i trade in the .50 range.. but i'll try lower sooner or later...

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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xeo
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Sorry for jumping in your thread. I have question.

When talking about volume, what do you mean by floating and shares outstanding? How important of a factor it is?

Thank you very much.


xeo

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Machiavelli
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quote:
Originally posted by xeo:
Sorry for jumping in your thread. I have question.

When talking about volume, what do you mean by floating and shares outstanding? How important of a factor it is?

Thank you very much.


xeo

Nothing to apologize about. this is a public forum and your welcomed to ask questions as long as you do not mention Qbid lol jkk...

anyways shares outstanding/float is important because in any stock you want liquidity to fill your stock positions whether buying or selling. If there are no buyers then you can't sell and vice versa. So you want the S.O./float to be high enough to be able to buy/sell without problem but you also want it to be high enough so the stock moves in price to make you a profit. but not so high that it takes alot of buying and selling to get the stock to move in price ala Qbid (yeah i said it lol )Qbid has such a high float/shares outstanding (in the billions if i remember right not going to look it up because i hate that stock) that it takes so many shares to be bought and sold to just move it a point. While a stock like say Microsoft has a decent enough share/float that it moves constantly up in price several points sometimes.. to me a good float/shares is between 5 million and let's say 100 million? ... but it's different for everyone.. it's a matter of preference i suppose... also the liquidity i mentioned before is because if a stock is tanking but there are not enough buyers when you need to get out of a position well you know what can happen LoL ... [Big Grin] .. hope this answers your question... also have a volume of no less then 500,000 on average...

[ July 05, 2005, 22:33: Message edited by: Machiavelli ]

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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T e x
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another good post for the machster...

Mach: question for you--say you see a post on a potential runner? ie, not one that's running, yet.

What's your quickest mouse-click to assess (leverage) on the float?

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Machiavelli
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I find almost everything i need at smallcapcenter.com ... if not i look for missing information on other sites to complement it... gotta love today... MIVT went up 15.38% ... take a look at it.. might interest you though its in overbought territory right now.. but i got my stop/loss locked in for a profit if it goes down... i'm starting a new thread on stop/losses.. feel free to contribute so others learn...

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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