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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: SmoothSail who wrote (40210)	6/19/2000 2:48:00 PM
From: Augustus Gloop	Read Replies (1) \| Respond to of 63513

This doesn't apply to Gary's trade but just For the rest of the threads benefit. When trading NYSE stocks you are guaranteed to get executed at your stop price. This is because there is a specialist involved. When trading Nasdaq issues this guarantee does not apply. When you place a stop on a nasdaq stock the stop price triggers the sale. As a result you can get more or less than your stop price. Most often it will be less.

To: SmoothSail who wrote (40210)	6/19/2000 2:49:00 PM
From: The Phoenix	Read Replies (2) \| Respond to of 63513

Indeed.. the honorable thing to do would be to honor it... but Schwab has NEVER done anything that would indicate that my business is worth a S***. Reason: There must have been a bunch more stop orders in front of mine. So, I guess it goes something like..... when the bid was 1 5/8 there was only bids for 10 contracts but 40 contracts were in at a stop of 1 5/8 (my 20 were the last). Then the bid went to 1 9/16 - for another 10 and the next 10 executed... mine were still sitting. Then the bid went to 1 1/2 for 20 contracts... they got my 20 contracts for 1/8 below what my stop was. So, ... I guess stop orders don't work as well in thinly trading stocks/options? Did I just get taught a lesson??? OG