Update

[Victor]

Hi all, here's an update on my results using SSP...

Date      Day %
10/8/2007   3.68%
10/9/2007   7.04%
10/10/2007   0.57%
10/11/2007   -1.91%
10/12/2007   -0.36%
10/15/2007   -1.29%
10/16/2007   0.97%

The biggest issue I have is the liquidity of the stocks chosen.  It's not necessarily total volume for the day, which can be quite good.  However, when you place an order it can take a while to get it filled.  For example, I missed selling my DRX yesterday, so had to try again today.  The spread (bid/ask) was 6 cents+ and then somebody would narrow the spread with a single lot order.  Now it's difficult to tell what prices you'll get if you go with a market order.  In other words, without market depth information you've got to stick to limit orders.  The previous round of GCE had me waiting almost half an hour for a fill.

Maybe I'm trying to get the market to come to me too often, or too much.  On the other hand, having the market depth hidden by single lot orders is a pain.  The other problem is if I go with a market order I'm immediately behind by a significant spread (by significant I mean... well, more than my comm.)

Wondering if you all could outline your order strategy.  Do you simply go with market orders, and get it done?  Or do you try to work the order a bit?

Interested in your feedback,

Victor

[DCA]

Victor,

     I always go with a limit order.  If I really want to buy or sell Now!  I place the limit "in the money."

     If I am selling I will look at the bid ask and if there is more ask than bid I will place the limit closer to the current bid.  I will take into consideration the daily volatility.  A more volatile stock will result in a limit that is further away from the bid. (For buy just replace sell with buy and bid with ask....)

     The other consideration (esp. with SPP) is volume.  If your holding equals more than 1 or 2% of typical daily volume then you have to be careful not to pull the price too much.  Since SSP is a weekly portfolio I treat every buy and sell suggestion as a weekly order and break my orders into smaller allotments.  (IE a one week timeline not a 1/2 hour!)

D

[Victor]

D,

Thanks for the info.  I'm using limit orders more and more.  Haven't got to the point of having to split my orders across days. 

I'm curious if you use other strategies as well or if you're sticking with SSP for the majority of your investing.

Cheers,

Victor

[DCA]

Victor,

     SSP 'influenced' stocks represent arond 1/3 of my portfolio.  (Less on days when TIM and CUQ are down.)  I say 'influenced' because there is considerable overlap between my own picks and SSP.  Often SSP selects a stock a week or two after I have started watching it.

    While it is still early to say how well SSP has influenced my gains things are looking good.

D