Its been a crazy day. I wake up on time for the market opening. I wanted to get some Facebook (FB) stocks. Facebook stocks became available a couple of hours after the market opening. I was in front of my laptop when Facebook stocks became available BUT I wasn't able to buy any FB stocks. I was placing my buy order properly, but I was receiving errors message. I try for an hour or 2, and without result, I gave up. I was getting tired and I was very annoyed. My goal was to do a quick buy-and-sell move with Facebook today, but the f buy order never go through. The stock reached $45 at its highest and close at almost $38.
I kinda of hate TD Waterhouse right now.
Brokers were not able to deal with the huge demand. If all BUY orders of retail investors like myself would had go through, Facebook could had reached $50 per stock during the day. Brokers suck and their CEO are getting paid millions of dollars. TD Waterhouse is no exception. TD was not able to deliver. That's the bottom line.
Following what, I completed an assignment for my new freelance job. I would had liked to received something else for this weekend, but nothing else came because since I am new, my work is going under review and blablabla. Do I need money? Oh yeah. Review as long as you want but give me some cash.
Also today, the JFT Strategic Fund (JFS.UN) of Jean-François Tardif came to live! Unit close the session at $9.88, which is close to the purchase price of $10. Not too bad. But the Vice Presidents of TD Waterhouse are soo wonderfully dumb that they haven't give a loan value to the JFT Strategic Fund. This mean that this investment is not adding up to my margin value - which kind of suck.
I am moving to Montreal this Sunday. I am almost moving ready. Just a few months of work ahead but hey, after I will be under unemployment for 2 f years or almost. Uncle Harper is kind of a bad guy. He's under his way to modify unemployment benefit rules. Uncle Harper think that I am going to accept whatever job when I had paid super huge taxes on my income.
F U Stephen Harper. This is my finger.
probably a good thing you weren't able to buy... it hit 45 and then all the way back down to 38! A lot of people bought on the way up and now they are sitting in a losing position...
ReplyDeletefrom the stock trading behaviour, a lot of people were selling when it was in the 40s... you should consider yourself lucky if you couldn't buy shares, you will be sitting at a loss if you bought in the 40s. several times in the day you could have bought at ipo price of 38. let's say how monday and the next few days how facebook will trade.
ReplyDeleteI am kind of broke anyway....
ReplyDeleteThis was purely emotional from my part. But I would had like to have some stocks of Facebook.
Right now, the TSX is under the 12 points, I don't have money to play around, so yeah, its a good thing after all.
facebook was a bust Sunny and anonymous is right, just as well as you are fully invested as it is and the markets are really getting whacked. this thing with Europe is going to take some time to get on track. i see Pembina stayed up all through the downfall..am sticking to enbridge, and all the heavy duty stocks from now on.
ReplyDeleteDon,t worry the institutional underwriters made 2 to 3 points off the herd & bought back at cost. Next week they'all do it all over again. Catch the Love Train one more time. Anony-choo-choo
ReplyDeletefacebook is fully priced at 38. it's 1/2 market cap of google! way overvalued...
ReplyDeletereally if you think about it ..what does facebook make...it really is just a media advertising object.
ReplyDeleteSunny-I love you! You freely admit to everyone that you invest emotionally. Go buy Facebook @ $38 /share I hope you don't get 'screwed' like the university students in Quebec are getting screwed. But hay, if you have money that you want to blow, buy Facebook. Be careful..really careful...Someones going to be making $$$ from your purchase of Facebook.
ReplyDeleteMark
Rich get richer and poor get poorer...
ReplyDeleteI am in the Facebook mania.
but the more I think about it, the less I am interested in Facebook, especially with the TSX under the 12 000 points.
I love you too :)
ReplyDeletemarkets will get a little bounce and then tank - i suggest you exit most if not all of your long positions and short the markets after the bounce. This is the post you will remember ; 0 )
ReplyDeleteI agree FB is fully priced out to market. Kudos to the accountants who figured the numbers.. Ppl were expecting a jump that wasn't. Lesson 2 Trading is computerized/bots. Pro traders have/pay for platforms where they can see every bid/ask/amounts. They're hardwired into the server spine . Sitting at home with your TDWaterhouse acct clicking on sell is no competition. Lesson 3 The trend is your friend. Invest when there is an established trend that can be verified through multiple methods. No trend, no invest. FB has no trend. Neither does the Tariff fund. Cheers!! Anony-chart-graph
ReplyDeleteI would say stay away from Facebook because facebook can be replaced by some other social media companies even some startup companies with some exciting ideas. Facebook is not worth 100 Billion. I'm sure that the share price will go below $20 in coming months.
ReplyDeleteSunny, be glad you didn't buy Facebook, it looks like another Groupon. Have a read through my 3 part series on FB:
ReplyDeletehttp://www.dividendninja.com/why-you-shouldnt-buy-facebook-part-1
All the best
The Dividend Ninja
Thanks Ninja. Its a good thing after all that my order never go through :0)
ReplyDeleteLucky lucky me.