Wow.

[Simpo Two]

Woke up at 4.20am to learn of the swing to Leave and then the Welsh result came in.

So I called it wrong. Oh well!

There's something I'm not clear on. Currently the shares I bought last week are sitting at their closing prices from yeterday. If I 'sell' now, will they actually be sold at those prices or will they wait in a queue for an hour by which time it will be too late? (I have the choice of Market, Limit or Stop loss).

[Simpo Two]

Thanks, that seem to clarify it. Nobody's going to bid to buy them at anything like the closing price.

I might try a limit of 5% below current value and see what happens. I wonder if the expert managers managing my other stuff, pension etc will exhibit expertness?

Thanks for the explanation

PS Is the timing of the order relevant; ie is there a first come, first served approach or do the buyers just pick the best ones at 8am?

[Simpo Two]

coyft said:

This gives a much better explanation. http://www.investopedia.com/terms/s/stop-limitorde...

[Simpo Two]

Hmm, just ordered one sale as 'Stop Loss' and it showing as 'Sell Stop' and says:

'We will sell at the best market price available once your specified price has been reached. The price we sell at could be above or below the specified stop loss price.'

- which seems different...

[Simpo Two]

coyft said:

Say your price is £50, the market opens at £52 you will sell for £52.

If the market opens below your stop, say £49 and the next price available is £49 they will sell for £49.

So much for a 'stop' then! Ah well I punted with one; I think Harry is right and I may as well go back to bed. I'd love to think that all the various fund managers who are responsible for my financial future saw it coming and had contingency plans but I'll bet £10 to a bucket of crap they didn't.

But as someone said, the economy will go on, and all that these 'market prices' really reflect is very clever high-up people and institutions making money. Many billions will be made later today, but not by Joe Investor.

[Simpo Two]

Computershare was slow an hour ago but working OK now; I've just cancelled my stop/loss order as it didn't happen.

Edited by Simpo Two on Friday 24th June 10:39

[Simpo Two]

It might have been healthier if the referendum hadn't been based on location - you'd just get X votes vs Y votes and the result would be an 'average' of the entire UK.

But we seem to be straying from Finance.