Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 196.81

-4.9%

Dec 9 3:59 PM EST

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To: Augustus Gloop who wrote (14469)	9/28/1997 10:53:00 AM
From: Harry Ehrlich	of 61433

Off Topic - stop orders It is on an nyse issue Harry...which is the point I have been trying to make for 2 days. Sorry, I've been away for a few days. Your above post seems to indicate that stop orders are gauaranteed on the NYSE. Again, stop orders can not be guaranteed, on any exchange, even when placed as a stop limit. Allow me to illustrate. A stock is trading at $50. You place a stop order to buy at $51. The stock stays at $50 all day. The next morning, the stock gaps on the open to $60. How can you possibly be guaranteed the stop price of $51? It can't happen. And if you placed a stop limit of $51, you simply would not get filled. The same is true for a stop sell order and a gap down. Hope this clears it up. Harry

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