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Datalink Corporation Message Board

  • cool_scirocco cool_scirocco Jan 10, 2012 4:12 PM Flag

    I hate when that happens

    About 90 minutes ago, I put in an order to sell 600 shares at $8.85 (would be a 10% gain).

    The price climbed, and at a few minutes at 3PM EST, shares began to trade at that price. Despite the fact that, when $8.85 became the best ask, mine was the first order visible, a couple of new orders showed-up nearly immediately, and while a couple of thousand shares traded at $8.85, only 100 of mine executed.

    It was at that moment that some news came out of Europe that caused the Dow and Nasdaq to both drop.

    Of course, the trading algorithm immediately began selling into the bid, leaving DTLK to trade below my price the last 50 minutes of trading.

    Oh well, I sold some earlier in the day at $8.65 (bought in Dec below $7.80), so I was able to lock in some profit, so it's not a total SNAFU.

    Anyway, there's always tomorrow.

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    • Have a longer time frame than 24 hrs and you might make some real money. By the time you pay your short term capital gains your chasing pennies instead of dollars. They probably did you a favor today.

      • 1 Reply to wiredup06
      • Thanks for the advice, but I dollar cost average both down and up, and occasionally buy on margin for short-term gains and hold them for a couple of days to two weeks, like the shares I mentioned earlier, looking for 5% - 10% gains.

        Since the European situation began, I've seen enough occasions of a big run-up followed by a sharp decline that I stick to a plan of holding some long while trading some short-term, but never shorting.

        FWIW, I made nearly $41K last year in short term gains on DTLK, plus another $5K in LT gains, so I'll just keep doing what I'm doing, thank you very much.

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