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Technology Stocks : Data Broadcasting Corp. (DBCC)
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To: Sharon L. who wrote (3712)1/16/1999 11:27:00 PM
From: Peter H. Hodge  Read Replies (1) of 5102
 
Sharon...sorry didn;t read your post until just now....somewhat after the fact. My reco was based only on a significant gap up. It is almost always advantageous to sell on a large gap up because the mm must bring the price down to cover the shorting they did to take the price up. You lock in your profits at some price and then can buy back in lower if that is your choice.

The opposite is true if you are short and the stock gaps down. This is what happened with DBCC and those who covered were able to go long and then perhaps go short at a much higher price.

I am recommending the market sell (or buy if short) at the open only to lock in profits. I would never recommend a market order at the open to initiate a position.
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