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Technology Stocks : USRX
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To: Jeffrey Spierman who wrote (13593)2/26/1997 10:10:00 PM
From: Fred Fahmy   of 18024
 
Jeffery,

It is my understanding that your trade should not have executed and you should be able to cancel tonight. At least that's the way it works with my broker (PCFN). Orders only trade in after hours if you specifically indicate you wish to be part of the after hour trading. Also, after hour trading MUST be in blocks of 100 (i.e. no odd lots). I don't know if it works on the same on the way up as it does on the way down but I had this experience with MOT once. The stock was trading in the low 60's, something like 62. I had a stop loss in at 58. The stock dropped to the low 50's during after hour trading (due to poor earnings report) and opened the next morning in the low 50's. My order did not execute in after hours and I cancelled it during the night. The next morning I still had my shares. I later sold them at 58 on the way back up. When I asked the broker about this trade and why my stop loss didn't execute at 58 he said that it would have if I would have told them that I wanted to make my shares available for after hour trading. He also told me that if I cancelled my order before the morning, I would not lose them. If I left the stop loss in place, I would have given them up at the opening price in the low 50's. I would think that this would work in the same way on the way up.

Regards,

FF
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