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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: rocklobster who wrote (43398)	12/13/2000 6:17:06 PM
From: Greg S.	Read Replies (1) \| Respond to of 57584

Speaking of sketchy stop orders .. I was trading COMS during one of its more volatile weeks around the PALM IPO .. I was in at 80 .. rode it up past 100 .. volume was dropping off and I had to go out so i put in a pretty tight stop with a cushion below resistance at 98. Came back and saw the stock was at like 95. "Oh," I thought, "guess it took out my stop. 18% isn't bad for a day's work .." I looked at the execution .. COMS had at one point dropped all the way down to 76, and my stop order had filled at 82. I had a sure winner, and I ended up barely covering commission! ;) Two things I learned: 1) If you're -trading- in volatile market conditions, watch your stocks. If you can't watch them, don't be in them. 2) Don't -depend- on stop orders, because they're just market orders that get filled too late. -G