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View Full Version : Party stock almost half off hi --- when to buy??

PokerPaul
09-28-2005, 03:14 PM
i was almost gonna buy some shares, thought about putting in 10K US into them.

Then i found out the commision on foreign market trades would come in around $400, and i could only get about 60 shares with that.

So i thought i'd wait a little longer.
KramerTM
09-28-2005, 04:15 PM
Excuse my ignorance. Party Poker had an IPO?
PokerPaul
09-28-2005, 05:00 PM
oh yeah.....it was the biggest IPO on LONDON exchange since 2000
PokerPaul
09-29-2005, 02:53 PM
thank goodness the trade commision was so expensive i decided against buying teh stock yesterday.

Stocks down over 8 pounds today to 87....saved a bundle
stinkypete
10-02-2005, 05:59 AM
[ QUOTE ]
i was almost gonna buy some shares, thought about putting in 10K US into them.

Then i found out the commision on foreign market trades would come in around $400, and i could only get about 60 shares with that.

So i thought i'd wait a little longer.

[/ QUOTE ]

wow, that's a retarded commission. assuming you pay the same when you sell, that's 8% in total. no stock is worth that.

i hope by "wait a little longer" you mean "wait until i can find a way to buy them for a reasonable commission".
Guthrie
10-02-2005, 04:42 PM
Wait until tomorrow, and save another bundle. Or wait another week, and save another bundle. Or wait until ...
Masquerade
10-02-2005, 06:17 PM
UK stocks are quoted in pence so a price of 90 means £0.90 or about $1.60. You could therefore buy 6000 shares, not 60. Theres a lot of scepticism about the viability of online poker so they might well be under-valued and PRTY.L is moving upwards again now.
Neil Stevens
10-02-2005, 07:06 PM
I'd give it a while. Let all the IPO speculators get out, then scoop it up at the bottom.

And while you're waiting, do absolutely nothing to argue with the "Poker is dying!" crowd.
AnyAce
10-02-2005, 08:58 PM
I bought some Sportingbet (also traded in London) right after they acquired Paradise Poker about 9 months ago. Fidelity charged me their standard commission ($14.95 or so). Its had a nice run since then.

AA
PokerPaul
10-03-2005, 09:49 AM
are you serious....just $15 commision for a foreign market trade?

If thats the case i just dont understand how my brokerage firm can charge over $300 to execute a trade on a London Stock exchange. He said at time it was because there is much more paperwork involved, foreign currency exchange, etc etc. I still am trying to figure out how they can charge $400 for a couple of phone calls maybe and keyboard clicks but took their word for it.

I havent done the trade yet but if anyone can let me know if this sounds right or not. Oh and i am not dealing with some no name scrupulous brokerage house here. It one of canada's biggest banks.
AnyAce
10-03-2005, 04:24 PM
I looked at my records. it was $14.95 at Fidelity.

Not sure if the Canadian bank you are referring to is TD Waterhouse, but my experience with them is that you can call 5 times and ask the same question and get 5 different answers.

I'd call E-trade and Schwab and ask them for their commissions too.

Good luck.
AA
stinkypete
10-03-2005, 04:58 PM
[ QUOTE ]

I havent done the trade yet but if anyone can let me know if this sounds right or not. Oh and i am not dealing with some no name scrupulous brokerage house here. It one of canada's biggest banks.

[/ QUOTE ]

this is your problem. get an account with an online brokerage. when you actually have to call people, they charge you retarded amounts.