Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: nokomis who wrote (61462)	9/15/1999 10:28:00 PM
From: Jenna	Read Replies (1) \| Respond to of 120523

The importance of stops and buy limits: came home this evening to see I was carried into ENTU which I put in a buy limit, was still in EMLX,CAMP, CPTH, ALLR, was out of OCLI (with a loss of the morning profit of 1 1/2), still in HQ which was the code I gave a few times today, and ADBE was down 9.70% and I was out much earlier with 1/3 that loss (after a larger gain) which i posted. You are going to have losses, every trader has losses, but how you react to your stock turning south should be mechanical for all the stocks.. If anything I get out before the 3-5% limit when the trade just 'smells sour' especially after a good 2-5 day swing trade. Let your winners run (with tight stops) but dump all losers, especially if they end the day with a wider loss. Had I not left this afternoon I would have sold OCLI way before the stock had triggered the stop and probably saved 1 or 3/4 point. I sold RIMM way before the 3-5% rule kicked in and it was down today another 4.3%..sold WEBT at 2.6% loss and it ended the day with 5.54%. When you have a large profit, don't wait until the stock is down 7 or 8%. I sold CAMP with 5% gone from a hefty gain that first day it dropped (I was just stopped out of that one) and got back 3 times that in the last 2 trading sessions. I didn't want to be in VERT since it was down and didn't hit my buy limit and that was fine. PRGS and BFCI were about the same and CMTN was still down sharply which is good. I would not average down and look for bargains in the IPO sector.. Remember that 70% of a profit is better than 100% of a loss. My only regret is not going short on a few more nets before I left this afternoon. Tomorrow I'll probably be shorting those that were up sharply these last 2 3 days like CMRC and watch others for shorting opportunities like AMCC and/or ASKJ. Likewise I'd be watching those oversold for buying opportunities.. Purely technical triggers and nothing emotional or 'great future prospects' should sway you. If its got a great future, the stock will be up, if its down, you haven't missed anything.