Playing Hammered Stocks for a Bounce, But How? Message Board

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Strategies & Market Trends : Playing Hammered Stocks for a Bounce, But How?

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To: JEFF CHAPMAN who wrote (65)	1/26/1998 7:54:00 PM
From: Keith Lenart	Read Replies (2) of 159

>>I notice that we may have a slightly different strategy, in that I'm looking at market buy orders and you are trying limit orders. My feeling is that I want the stock to be upticking, so I don't mind paying the 1/8th<< Jeff, I've traded your way before. However, I found it to be tough pyschologically sometimes. If the stock popped and I paid an extra 1/8, or sometimes 1/4 on fast movers, I had a tougher time dumping the trade quickly if it so happened to immediately stall. I ended up riding down a couple of trades for the majority of a full point (mind you within about 30-40 seconds) before pulling the trigger and getting out with another market order. (Talk about adding insult to injury.) This really hurts when trading a 5K block. Anyway, 75-80% of the time I get filled on my limit. And when I do, I have no problems dumping those trades that don't turn out.

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