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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: OldAIMGuy who wrote (14505)	1/22/2001 2:36:41 PM
From: LemonHead	Read Replies (2) \| Respond to of 18928

Hi Tom, Were you able to determine from your broker whether you can place a "stop order" for just a portion of your account? FWIW, I believe there is some confusion as to the difference between a "Stop Limit Order" and a "Stop Order". I for one would consider using a "Stop Limit Order" with AIM but not a "Stop Order". See definitions as stated at WaterHouse. What is a stop limit order? A sell stop limit order is an order placed below the current market price and will be triggered if the stock reaches at or below the stop price. Once a sell stop limit order is triggered, your order will become a limit order. For an OTC stock, a sell stop limit order is triggered on the bid price. For a NYSE or AMEX stock, a sell stop limit order is triggered by the last trade. If a sell stop limit order is placed above the current market of the stock, it will not be accepted by the exchanges and will be canceled. Sell stop limit orders cannot be placed on bulletin board stocks. Additionally, all or none restrictions cannot be placed on sell stop limit orders. Odd lot orders will be accepted. What is a stop order? A sell stop order is an order placed below the current market price and is triggered if the stock reaches at or below the stop price. Once a sell stop order is triggered, your order will become a market order. For an OTC stock, a sell stop order is triggered on the bid price. For a NYSE or AMEX stock, a sell stop order is triggered by the last trade. If a sell stop order is placed above the current market price of the stock, it will not be accepted by the exchanges and will be canceled. Sell stop orders cannot be placed on bulletin board stocks. Additionally, all or none restrictions cannot be placed on stop orders. Odd lot orders will be accepted. The main difference is that with a "Stop Limit Order" if the stock gaps down over night and opens below your limit price, you won't sell your shares at the lower price. Keith