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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (12139)	12/12/1999 12:11:00 PM
From: Rashid Garuba	Read Replies (2) \| Respond to of 59879

Dale, I did that a while back after calling an Etrade broker that told me to "do what is in your best interest" while we awaited confirmation. Do you know if, should the stock have left you behind, the close-out order becomes a trade in the opposite direction.. i.e. stock breaks out at 10 1/4 but your limit does not execute.. you place a sell at 12, do you become short even though it was not a sell short order. I did inquire about boxing a position above and below a while back and they said perhaps in the future. Definitely a tool that will help us in the fight against MM's. Rashid

To: Dale Baker who wrote (12139)	12/13/1999 4:00:00 PM
From: GTC Trader	Respond to of 59879

<< A device that would allow both and cancel one when the other tripped would be ideal. >> I have heard of OCO (One Cancels the Other) orders being placed with Live Brokers. The idea is to Box the trade and the first order to execute cancels the other one. Since I am seldom at the computer while the market is active, I have wanted to do this on most of my trades. For poppers, for example, I place a limit sell a little below my target for the pop. It has served me well. Sold some BWSI shares today at 11 that I bought at 8. Others are waiting for 12, hopefully. As a result, though, I can't place a stop-loss order, which has killed me on several trades. (Glad to see PAGE bouncing back, for example.) Since ebrokers compete with live brokers, this seems like a big hole that they will have to fill. Let's hope they do. I think that it is a much needed tool, so that we can play the offense and the defense at the same time. It would have saved me $$$$ in addition to a lot of anxiety picking which of the two desired orders to place. I keep remembering Mark's sage advice: The longer you hold a stock, the more that can go wrong. I like the idea of only having 2 or 3 stocks in play at once. Best wishes to all -- HB P.S. Re. BWSI -- 9 1/2 looks like pretty good support and is 15+% above my entry point. Would like to add a stop-loss around 9 1/4, but I think that I'll leave my $12 GTC in place for now and trust the support.