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Technology Stocks : America On-Line: will it survive ...?
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To: LindyBill who wrote (13129)12/27/1998 8:16:00 PM
From: ct  Read Replies (2) of 13594
 
Stop losses can get you in trouble. I had one on CPQ a year or so ago at 62. Kurlak came out with one of his famous downgrades on INTC prior to the market opening. Techs went straight down. CPQ blew right through that stop to 60 where it sold. 15 minutes after the market opened, the panic was over and CPQ was back up to 63 but I was out. Another example, although it is internet, was ONSL. It went up to 108 within 5 minutes of opening which was 10 or 12 points up on 11/30. All of a sudden, the internets plummeted. I have read of a lot of people who had stop losses at 70 and 80. There were no buyers till the stock reached 49 and the stock was sold at that price and it later recovered to about 70 that day. Now, AOL won't drop like that but in a panic, especially on opening, they can really plummet and they usually recover somewhat after that initial plummet but you are out. Stop losses can be very risky. Of course, internets can be risky. Good luck.
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