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 : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: rocklobster who wrote (27694)	1/15/2002 4:24:52 PM
From: gsp6181	Respond to of 52237

Rok, It is manipulation all right but not much that we retail traders can do about it except watch out. I guess that is the way we learn the business. I sometimes use "stop limit" orders with IB and their execution has been fine. I actually hate to use them - prefer staying at the computer but anytime I have to leave with a position on I'll put them on. Of course the "limit" part could prevent me from being filled but I'll take the chance. Take care, gsp

To: rocklobster who wrote (27694)	1/15/2002 4:39:31 PM
From: Michael Watkins	Respond to of 52237

rok - its not 'the computer' - its the way the market works. Your stop was hit. IB converts that to a limit order with a wide collar, a simulated market. You were not the only one hit. Suddenly there are a ton of orders out there to buy, more than offers to sell - at that price. So net price starts moving up. Was it done intentionally? Probably. Someone watching market depth might see relatively few stop orders at the days high, and take a run at them knowing what might happen. I can't say it enough, don't place stop orders just above or just below the days high or low - they will get run, frequently, and sometimes with disasterous consequences.