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Technology Stocks : E Loan Inc -EELN
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To: jds who wrote (498)7/30/1999 5:43:00 PM
From: Gary Metzer  Read Replies (1) of 817
 
JDS,

Re: Stop Losses

Since they've cost you more than they saved you, it sounds like you already have your answer. I once had a stop loss on a thinly traded stock set more than 10% below where it was trading at the time. During a 30 minute time span, I could see the price being slowly brought down until it hit my stop. THEN it immediately popped back up and my stock was gone. Fascinating to watch. It's like a child sneaking a cookie from the cookie jar. Needless to say, that was the last time I used a stop. Look at some of the tech charts from this afternoon. Spikes down, takes out the stops, and immediately pops back up.

Good luck

Gary
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