You buy a stock. It goes down, now what? Message Board

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Strategies & Market Trends : You buy a stock. It goes down, now what?

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To: Bald Eagle who wrote ()	7/8/1998 10:57:00 PM
From: Patric	Read Replies (1) of 112

I agree with you that stop loss orders are tough to work with, at least until you are in the money. Over the past year virtually every time I got stopped out I bagged a moderate loss just before a big run up. Happened on HD, QGENF, MIND, CAT(shortly before its pre-split run up), TLAB, ... Mental stops are worthless unless you are far more disciplined than I. (SEE ITEQ--got in a while back @ 11 1/2 expecting a bounce, watched it go down to around 9 1/2 (should have been out @ 10 7/8), and voila! 2 weeks ago it dropped below 6 1/2 before bouncing back to 7 1/2+. It hit 8 today but I don't see it going up much more in the foreseeable future, so I'll try to salvage some dignity (if that's possible at this point) and get out tomorrow. I'm set with CADE, although it's tempting to gorge on it short-term for at least a 1/2 point spike, but I'm also thinking AIRM looks pretty good or maybe back into TLAB. Other thoughts for tomorrow? I'm going to start paper trading protective puts to see how that might work out--unless the cost is too high that seems like a better way to protect.

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