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Started By
Message
I Need Advice Selling Individual Stock (update in OP)
Posted on 6/2/22 at 8:53 am
Posted on 6/2/22 at 8:53 am
Here is the situation. I'm too heavy in XOM and need to diversify. To sell stock, I can put in a sell order the day before. I can stop the sell order the next day before 6am Central. After that, the stock will sell for the average of price of the day.
Of course, the biggest concern is a huge drop on that day.
Can anyone suggest indicators I can watch that might allow me to pick a day where to expect 'relative calm'??
I know to avoid earnings report days or dividend declarations. I don't know how puts/calls work but it would seem an end date could affect things. Are after hour prices a reliable indicator? Is there some OPEC months meeting that could swing things?
Any advice would be appreciated.
UPDATE: So for Thursday, the stock unusually varied within a dollar and closed -.17 cents from opening. After hours remained steady. I awoke at 5:30 and checked the premarket and it remained calm. I could cancel the sell option up to 6am.
Opening gate looks good. Up almost 2%. Although, it wouldn't surprise me at a near all time high if owners cashed in and took some profits, reducing the gain by the end of the day. I will get the price of the average of the day. Fingers crossed.
Of course, the biggest concern is a huge drop on that day.
Can anyone suggest indicators I can watch that might allow me to pick a day where to expect 'relative calm'??
I know to avoid earnings report days or dividend declarations. I don't know how puts/calls work but it would seem an end date could affect things. Are after hour prices a reliable indicator? Is there some OPEC months meeting that could swing things?
Any advice would be appreciated.
UPDATE: So for Thursday, the stock unusually varied within a dollar and closed -.17 cents from opening. After hours remained steady. I awoke at 5:30 and checked the premarket and it remained calm. I could cancel the sell option up to 6am.
Opening gate looks good. Up almost 2%. Although, it wouldn't surprise me at a near all time high if owners cashed in and took some profits, reducing the gain by the end of the day. I will get the price of the average of the day. Fingers crossed.
This post was edited on 6/3/22 at 9:07 am
10
Posted on 6/2/22 at 8:58 am to Enadious
You're at multi-year highs, you should have made a shite ton of money. Just sell it.
Posted on 6/2/22 at 9:02 am to j1897
I'm happy to do that. I just wanted to feel more comfortable with the decision.
Posted on 6/2/22 at 9:05 am to Enadious
Can you not set a limit stop?
Posted on 6/2/22 at 9:07 am to Enadious
Do not watch indicators for this. Every indicator is a derivative of price. Therefore, they are all trailing. What you're talking about is basing your trading decision for tomorrow on yesterday's newspaper.
Do it now and stop worrying about it - there's nothing wrong with selling at a high. Or make a plan to do it at specific times. Or learn options.
Whatever you do don't try to predict. Thinking you know what happens next will burn you.
quote:
I'm too heavy in XOM and need to diversify
Do it now and stop worrying about it - there's nothing wrong with selling at a high. Or make a plan to do it at specific times. Or learn options.
Whatever you do don't try to predict. Thinking you know what happens next will burn you.
Posted on 6/2/22 at 9:09 am to Mingo Was His NameO
quote:
Can you not set a limit stop?
This is your answer
Posted on 6/2/22 at 9:21 am to Enadious
What a stressful way to invest. Just sell it. Set a limit the day of to protect against a flash crash and sell it.
I would lose my hair if I was as obsessed with timing every penny on not only a daily basis but an hourly basis like youre indicating. You're overthinking it unless you are trying to sell millions.
I would lose my hair if I was as obsessed with timing every penny on not only a daily basis but an hourly basis like youre indicating. You're overthinking it unless you are trying to sell millions.
This post was edited on 6/2/22 at 9:23 am
Posted on 6/2/22 at 9:27 am to Mingo Was His NameO
quote:
Can you not set a limit stop?
No. It's the average of the day. That's the only option I have
Posted on 6/2/22 at 9:32 am to Pendulum
quote:
You're overthinking it unless you are trying to sell millions.
Think of it this way, it's a large percentage of my total wealth. So, I don't want the decision I make on one day to negatively affect the next 25 years of my life
Posted on 6/2/22 at 9:32 am to Enadious
(no message)
This post was edited on 5/16/23 at 3:15 pm
Posted on 6/2/22 at 9:37 am to Enadious
XOM is up 50+% last 12-months. It lost 0.00002% while you were typing this. Just sell.
Perhaps you should reflect on your worry (ie, your opportunity cost for being too heavily weighted in XOM to begin with as a bigger concern than intra-day sell flexibility to correct it).
Perhaps you should reflect on your worry (ie, your opportunity cost for being too heavily weighted in XOM to begin with as a bigger concern than intra-day sell flexibility to correct it).
Posted on 6/2/22 at 9:42 am to Enadious
It's going to break $100
Posted on 6/2/22 at 9:47 am to Enadious
What broker are you using with those limitations? You have a fee options:
- Sell over multiple days (depending on size of position may want to spread gains over multiple years even)
- Switch brokers so you can place stop limit orders
- Bite the bullet an accept the risk. Every day you wait you ate accepting risk of a pull back anyway. As you stated, concentrated position is too much of your overall portfolio and places your financial position at undue risk.
O would shop for new broker even if you sell immediately with current one.
- Sell over multiple days (depending on size of position may want to spread gains over multiple years even)
- Switch brokers so you can place stop limit orders
- Bite the bullet an accept the risk. Every day you wait you ate accepting risk of a pull back anyway. As you stated, concentrated position is too much of your overall portfolio and places your financial position at undue risk.
O would shop for new broker even if you sell immediately with current one.
Posted on 6/2/22 at 10:25 am to Enadious
I am unfamiliar with this type of arrangement (sell for the average price of the day). Are you an XOM employee and this is some kind of employee stock purchase program?
You don’t say how many shares you own and how many you are looking to sell. For example, let’s say you own 1,000 shares and want to sell 500. If I was in that situation (given that you said you can not enter stop loss orders), I would put in a sell order for 100 shares for the next day. See what price you get and consider selling 100 shares the next day after. Rinse and repeat.
As far as indicators go – I’d watch the overnight price of Crude Oil. If Bent and West Texas Intermediate go up that is probably a good day to take some profits if you have or want to.
I own XOM and have laddered stop loss orders on all of it. I’ve enjoyed this run up but not the pain at the pump.
You don’t say how many shares you own and how many you are looking to sell. For example, let’s say you own 1,000 shares and want to sell 500. If I was in that situation (given that you said you can not enter stop loss orders), I would put in a sell order for 100 shares for the next day. See what price you get and consider selling 100 shares the next day after. Rinse and repeat.
As far as indicators go – I’d watch the overnight price of Crude Oil. If Bent and West Texas Intermediate go up that is probably a good day to take some profits if you have or want to.
I own XOM and have laddered stop loss orders on all of it. I’ve enjoyed this run up but not the pain at the pump.
Posted on 6/2/22 at 10:27 am to TorchtheFlyingTiger
Make sure you know what the fee for your sale is going to be. Did you inherit it? I inherited a good bit of KO that was transferred through Computershare and they charged a per share fee plus a general fee that would have totaled a grand so I transferred the shares to my Etrade account. But that can take days.
The bottom line, as others have basically said, is that you can't time the market so the odds are you won't sell at a relative high and you won't buy whatever you plan to buy after selling at a relative low. That's the way the world works.
The bottom line, as others have basically said, is that you can't time the market so the odds are you won't sell at a relative high and you won't buy whatever you plan to buy after selling at a relative low. That's the way the world works.
Posted on 6/2/22 at 10:30 am to Enadious
Real men only sell when they’re down 40
Posted on 6/2/22 at 11:23 am to WallsAllAroundMe
quote:
I am confused. Who is your broker to sell stock in this fashion?
Thrift plan through exxonmobil. I can make 2 trades a month. No charge on my end
Posted on 6/2/22 at 11:32 am to PlanoPrivateer
quote:
I am unfamiliar with this type of arrangement (sell for the average price of the day). Are you an XOM employee and this is some kind of employee stock purchase program?
After reading over his posts a couple of times, I believe this is it… or something like this. He really should have offered this information, or explain what type of account he’s dealing with, if that’s the case. I don’t care how many shares he has, but what percentage of his investment portfolio does this position make up?
Rather than trying to time the sale (which is a waste of time), he could just lighten the position over several trading days. For him to think that a Monday sale is going to affect him more in 20 years than a sale on Tuesday, Wednesday, etc. is one of the more bizarre things that I’ve read here (and there have been some real doozies lately
).Posted on 6/2/22 at 11:35 am to Enadious
quote:
Thrift plan through exxonmobil. I can make 2 trades a month. No charge on my end
OK. That’s helpful information. So lighten the position over time. Think of it as the reverse of dollar cost averaging when you buy.
Posted on 6/2/22 at 11:50 am to Jag_Warrior
I think he is trying to avoid selling on a day like a couple Monday’s ago when xom dropped several dollars. So yes, selling several thousand shares on that Monday could negatively effect him. Not so bizarre.
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