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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Matthew L. Jones who wrote (5363)11/12/1999 5:10:00 PM
From: E. Davies  Read Replies (1) of 18137
 
You can always get back in if the trade is right

Being willing to reenter lower (or even higher) is a critical part of making stops work. Too many times I've stopped out of a position and lost track of the stock only to see it later rebound.

As a matter of fact I've seen that sometimes the best place to buy is right below everyone elses stops. Time after time I see a stock break through a critical support level, trigger a mass of selling, and turn right back up after hitting the next lowest support.

If everyone thinks that 50 is the critical support sometimes the best thing you can do is buy @ 49 5/8.

Eric
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