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Technology Stocks : Cymer (CYMI)
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To: TelecosmFan who wrote (9092)11/11/1997 9:28:00 PM
From: rsc  Read Replies (1) of 25960
 
Ed, I have only used a stop-loss once. I was curious, and so placed the stop on a stock I intended to sell anyway. The education was worth the smaller gain. I placed the stop 1/2 point beneath the current bid on a day during which this stock unrelentingly trended upwards. Within one minute of my placing the stop, that momentum stopped, switched direction, and the stock headed down. Once my stop was eaten (the correct term, Candlestick?), the stock then resumed its upward movement. I will never use a stop again.

Richard

P.S. The next day the stock gapped down 2 points, and has been going south ever since.
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