SSF's - cost alot to keep them over the weekend

[djw]

Finding that holding onto your positions for the weekend costs alot. Spend the next few days just trying to make up the losses incurred - do you guys sell your positions before the weekend or just ride it out?

[Brazen]

Uh?

[djw]

Hi Brazen - Had Mittal Long and on Friday the account was up about R2k - On Sunday when the market was closed - the account was down about R600. Was wondering if you should sell on Friday or just keep the psoitions

[#4]

djw u not alone playa.....same prob here....but to be honest,u don't really have to sell on fridays.....cbw and omo.

[Brazen]

ok djw - see what you mean. I've had that too. It happens when the SSF reflects the bid price, over Christmas there were no bids on something I had and my balance was minus 90K or something. Bit horrifying but it was back to normal when the markets opened again. An expert could explain better that me, but I think they set it late in the evening. And before that you get the bid price reflected.

[trigger]

Yip, it is the bid price which is reflected no matter how bad after the auction - interest on 500K is +- 110 R/day, I don't think it would be worth selling and buying back on Monday - chances are the share has moved away from your original position anyway.

[cfm]

Forget about what our intra day profit/loss is unless it gets close to a margin call. Just watch the underlying to determine if you should hold or sell.