You got suckered. Sorry, I am not trying to be brutal, but they went shopping this morning for your order as justification to take the price down 20% in 10 minutes for no reason other than their greed. See, the SEC just can't worry about such small fish as a few thousand shares of ANET trading volitily, so such MM behaviour goes virtually unnoticed, except by you and me. The key here is contrarian thinking.
Lesson number one: If you re trading short term, take profits when the stock is making its highs and starts to look "heavy". Then wait for the inevitable retracement and as it picks up steam, ask yourself, where would I now consider this a screaming bargin? Then put in your GTC order at that price. Mine was surprizingly executed at 12 3/4 this morning. By the time I knew it was in the 12s with 20 minute delay, I would have had to pay 13 and change for it.
Lesson number two: If your holding long term, buy at the screaming bargin and put it away, resisting the urge to trade. If you have more cash later and a new screaming bargin price presents itself, take advantage of it. |
