InvestorsHub Logo
Followers 26
Posts 2269
Boards Moderated 0
Alias Born 05/05/2010

Re: slob post# 62206

Sunday, 10/16/2011 1:00:28 AM

Sunday, October 16, 2011 1:00:28 AM

Post# of 83075
Slob, I've got to admit that there have been a few times where I was a bid-sitter just to see if I could get a few shares at a lower price, and it did work for me. Yes, I can remember a few of your posts complaining about bid-sitters and the response was "to each his own" and "you buy your way, I'll buy mine".

What the REAL problem is, is that there is no sense of urgency here. I was always real nervous being a bid-sitter because I was afraid that I'd miss out if news struck while I was waiting to get a order filled. I'd HATE that! But then, look what happened this week.... I don't think it was a mad investor dumping his shares, I think it was delution. 10 million shares changed hands at bid-minus-one. So of course people want that lower price. Those who were lower-than-bid sitters got a reward.

I've called myself a "newbie" many times, but can you believe that I have a friend who has recently started investing over 10 thousand dollars in the market (a little of it is here on my advice) and he STILL doesn't know what is a bid and what is a ask. I've explained it a couple of times, but it didn't stick. This person isn't dumb. He just doesn't get that involved in the market and just wants to look at his bottom line. I'm sure there are many others just like him. Now I sound like the 'expert' and he is the newbie.... HA!

Look at me... it's Saturday night and I'm typing a post. Gawd, I'm feeling old. please make me rich too!

Charlie