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Thursday, August 4, 2011

Facing the stocks market crash correction and a massive wave of sell on August 4, 2011

My best advice: HOLD tight. Everyone should be holding instead of selling and facing capital lost.

For the past couple days, the TSX lost points almost every single day, at the exception of yesterday. As an eternal optimistic, I taught that today, the market will have open on a happy note, but it’s totally the opposite that is currently happening. Today, retail investors like registered investors, small like big ones, we are facing a market crash, an in deep correction that made the TSX lost more than 300 points on just one day, at least so far. But a great news being, the day is not over yet, the market could rebound. But for the way it look so far, the market will face some major lost today.

My non-registered portfolio is at 107 073.80$. Considering what’s going out there, I find this amount being strong and of a good result. I previously wrote in previous post about what I will be doing if the market continues to crash. It’s a real day-to-day situation. At this time, I transferred 5 000$ on my margin account. That money is coming from my credit line. I think that transferred will be enough for now. And before midnight, if I see everything is ok, I will transferred the 5 000$ back on my credit line in order to avoid the interest. My non-registered portfolio just jump to 107 219.81$.

Today August 4, 2011 mark a very sad day. Anyhow, I always saw my investment adventure for the long run. A stock crash is something I can go through, but still, I have doing so well, and now, this crash is destroying my hard work. I plan to hold without selling anything for now, at the exception of HZD. This may be a good opportunity for me to finally sell at profit Horizons BetaPro COMEX Silver Bear Plus ETF (HZD)... at least something positive may happen from this stock crash. But even my sell order at a limit price of 8$ does not want to go through. It’s the first time one of my order limits do not get accept by TD Waterhouse. When I try to set a sell at 8$ per stock for my 400 stocks of HZD, I get this crazy message:

“Error: your order request cannot be processed.
Your limit price is too far off the current market price. Please re-enter or contact your local TD Waterhouse office for assistance.”

Thank you TD Waterhouse!

I am doing just like usual you know! But it’s this situation that is not usual. Currenlty, HZD trades at 5.04$. I want to enter a sell order so my units get sell at 8$. But seem like I cannot place my order. I guess TD Watrehouse has modified their trading structure because of heavy transactions. A lot of people are selling their stocks at this time. But myself, I just want to sell HZD. Just that one. I don’t think HZD will be reaching the 8$ today. Maybe tomorrow or another if the market continues to crash.

My non-registered portfolio is now at 107 068.91$. I have to get out of here get some fresh air.

... my non-registered portfolio is now at 106 998.24$ ...

1 comment:

Ruth said...

Sunny, have you ever thought of writing a column for a newspaper with opinions...your good. you have interesting things to say and you have a broad knowledge of financial matters. enjoy your pages very much.



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