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Technology Stocks : INFOSEEK (GO)

GO 9.570

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To: Regeloney who wrote (8001)	10/30/1998 4:17:00 PM
From: Gary Metzer	Read Replies (1) of 9343

Regeloney, re: I can't tell. Believe it or not, my stocks server went down! I got a glimpse, but it looks like they never changed my order from "market order" to a stop order at 33. I may have gotten burned at 28. A market order at the open and a stop order at 33 when the stock opens at 28 are essentially the same. At Schwab, from my own experience, stop loss orders are executed automatically by the system as the stock price "falls through" the stop price. However, if a stock gaps down at the open, these are pulled out of the system and executed manually as market orders. I learned this the hard way on the day of the crash as I received confirmations on the trades that fell through my stops but didn't see anything on the others. I thought they didn't take because the stop was never breached, however, an hour later I found all the stops I had that gapped down were entered as market orders sometimes several minutes after the stocks started trading. Major learning experience. Be careful with the use of stops. If your experience here is different, please let me know. Gary

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