International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: J.L. who wrote (23159)	10/24/1997 12:35:00 PM
From: Bob Markley	Read Replies (2) of 35569

<< I wonder if the post about stop-loss orders may be a valid point. IMO Stop loss orders combined with a large number of people trading (and even day trading) may account for some of the volitility and volume in this issue. >> Jeff, Cancelling open 'stop-loss' orders (stop sells) is analogous to taking some of the 'bullets' out of the MM's gun. Stop-loss orders are one of the main strategies of MM's in every market. They either can actually 'see' where the stops are in the system or know by experience where the 'public' will most likely place them. Their game is to position themselves short, attempt to 'hit' the stops, put their hands in their pockets & watch the price fall on little or no volume. After the weak holders have been shaken/taken out they cover. I hold the opinion that stops are perhaps the basic 'mealticket' of the MM's. Bob

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