<OT> Jill, this is an amazing market to trade in, especially on the short side. But you have to be careful. I made a mistake that almost cost me a bunch. I've been trading SWS for some time now. Yesterday at the close, I bought some SWS for a bit over 79. Today, SWS took awhile to trade, and I put in a sell order when it failed to go much above 81. Well, it looked like I just hit the bid when the price started tanking, and after my broker (I did this with Datek) didn't show an execution, I quickly cancelled the order to resubmit it at a lower price. Well, my cancel order got "stuck" for an hour, while the price kept sinking, hitting 74. I couldn't find out if I was executed, or cancelled or what - so I couldn't send another sell order or I'd be short. I called Datek, and they told me to "just wait"!!! Nightmare. Finally, after an hour, it showed that I did get executed after all, and so I made a little instead of losing big. But what a scare!
Lesson is, you must always count with technical and broker-related problems, and don't expose yourself to very risky situations when you can't be sure of execution.
Good luck.
Morgan |
