Unisteel

Re: Unisteel

Postby winston » Tue Jun 03, 2008 6:11 pm

kazataza wrote:guess u guys gonna say i'm stopid................
i sold off mine early this morning...cos due date was today....damn it!
then saw it on high vol list...was thinking whether to buy in again.....
then was stuck in meetings....and when i'm out, it's TRADING HALT!!!!!! so sadz........................


Hi kazataza,

Let me share with you some stupid stories too.

I sold a very big position in Rothmans just before they privatise the company.

Another one, is I sold Four Seasons Hotel just before the Saudi prince decide to take them over.

As and when I think of others, I will share it with you as well. I remember these two as the pain was extremely deep :P.

Take care,
Winston
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 100651
Joined: Wed May 07, 2008 9:28 am

Re: Unisteel

Postby Aspellian » Tue Jun 03, 2008 6:57 pm

kazataza wrote:guess u guys gonna say i'm stopid................
i sold off mine early this morning...cos due date was today....damn it!
then saw it on high vol list...was thinking whether to buy in again.....
then was stuck in meetings....and when i'm out, it's TRADING HALT!!!!!! so sadz........................


kazataza,

dun be too sad. i think those who are still holding prior to the halt are just lucky....

i am thinking hard whether to sell for immediate profits for "5mins of minimal work"... while i am thinking, drinking water, price dropped slightly, very tempted to sell to lock in remaining profits... but rationalise that there could be a bidding war from the 4 premium PE firms (eg. KKR vs Carlye; mouth-drooling.... :lol: ) so just decide to hold on to the shares to see how the drama unfolds; since if the price dropped, i will average down...

just plain lucky that i am still holding on...

PROMISE, PASSION, PEACE, POWER, PURPOSE, PLAN, PATIENCE, PERSEVERANCE, PROTECTION
DELIGHT, DISCIPLINE, DILIGENT, DETERMINATION, DESIRE

"Its not whether you're right or wrong thats important, but how much money you make when you're right and how much you lose when you're wrong." - Warren Buffet
User avatar
Aspellian
Boss
 
Posts: 1919
Joined: Fri May 23, 2008 8:53 am

Re: Unisteel

Postby lioninvestor » Tue Jun 03, 2008 7:01 pm

Kazataza,

If you sold it off because you had no money to hold the position and had to contra, you might be overextending your position.

Trade with care.
User avatar
lioninvestor
Loafer
 
Posts: 18
Joined: Thu May 15, 2008 11:50 pm

Re: Unisteel

Postby kennynah » Tue Jun 03, 2008 7:09 pm

it's very good advice for anyone, not to contra in a stock market. extremely dangerous and it is only a matter of time before the hand and pocket get torched big time.
this is spoken from my personal experience and i dont mind sharing this bad experience.
ever since, i have NEVER (and i very rarely use this word) played the market on contra.
once bitten, forever(there i go again) shy :P
Options Strategies & Discussions .(Trading Discipline : The Science of Constantly Acting on Knowledge Consistently - kennynah).Investment Strategies & Ideas

Image..................................................................<A fool gives full vent to his anger, but a wise man keeps himself under control-Proverbs 29:11>.................................................................Image
User avatar
kennynah
Lord of the Lew Lian
 
Posts: 18582
Joined: Wed May 07, 2008 2:00 am
Location: everywhere.. and nowhere..

Re: Unisteel

Postby Musicwhiz » Tue Jun 03, 2008 7:47 pm

I am not sure what it going on with Unisteel, but forums have been abuzz with takeover rumours in the range of S$1.80 to S$1.90. I am also unsure about the history of this company and whether they have been profitable and whether margins are holding up, but it seems speculative to purchase just because of rumours of an impending takeover. There may or may not be a discount/premium offered to market price and herein lies the risk; unless one can objectively evaluate the business prospects of Unisteel, it is better to wait for a decent margin of safety to purchase this company.

And also, NEVER play contra. I've seen more than a few people burnt very badly from this risky form of speculation. It's just not worth the time and effort to get small gains when the potential loss may be significant (remember to factor in brokerage too).

Just my 2-cents. Please sound me out if I am wrong in any of the above. :)
Please visit my value investing blog at http://sgmusicwhiz.blogspot.com
User avatar
Musicwhiz
Boss
 
Posts: 1534
Joined: Sat May 17, 2008 2:02 am

Re: Unisteel

Postby kazataza » Tue Jun 03, 2008 9:58 pm

sigh...it's a long story why i got to sell it off....admitted dat at the start, i'd the intention to contra but i've the funds to pay off as well....unisteel had been a counter i'd looking for some time and of cos, rumors of acquistion made me decided to enter into this counter

my brokerage a/c is linked to Bank A....which i keep minimal fund...so whenever i buy shares, i will trf $ from Bank B in order for me to pay for my purchase or write a chq to deposit into Bank A...
but stupid me forgot to bring my chq on monday (due date - which i happily forgot)....that's y ended up like that..............


anw, good luck to those holding onto unisteel......
my guess maybe will hit $2?
User avatar
kazataza
Loafer
 
Posts: 81
Joined: Thu May 08, 2008 3:29 pm

Re: Unisteel

Postby lioninvestor » Tue Jun 03, 2008 11:37 pm

kazataza,

Maybe you can consider linking it to bank B so that not it's so troublesome in future?

I found that doing a giro linkage is a good deal. The money gets deducted later and the proceeds come in faster. So much so that if I do a buy and sell order on the same day, the proceeds of the sell order will come in time to fund the buy order. Saves a lot of hassle and allows for intraday switching of portfolio.
User avatar
lioninvestor
Loafer
 
Posts: 18
Joined: Thu May 15, 2008 11:50 pm

Re: Unisteel

Postby kazataza » Wed Jun 04, 2008 10:02 am

the a/c i'm having with Bank B (SCB) is the esaver a/c...it's a no-frills a/c...no ATM card oso....

lioninvestor, is that your photo? u look kinda familiar...r u into theatre works?
User avatar
kazataza
Loafer
 
Posts: 81
Joined: Thu May 08, 2008 3:29 pm

Re: Unisteel

Postby kazataza » Wed Jun 04, 2008 10:04 am

Aspellian and Winston...
thanks for the consolation....after a sleep thru the night, feeling better
User avatar
kazataza
Loafer
 
Posts: 81
Joined: Thu May 08, 2008 3:29 pm

Re: Unisteel

Postby lioninvestor » Wed Jun 04, 2008 11:30 pm

Hi Kazataza,

If I remember correctly, esaver allows you to make bill payments as well. Perhaps you might want to explore that.

The avatar belongs to me but I'm no artist..haha
User avatar
lioninvestor
Loafer
 
Posts: 18
Joined: Thu May 15, 2008 11:50 pm

PreviousNext

Return to U to Z

Who is online

Users browsing this forum: No registered users and 1 guest

cron