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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: waverider who wrote (15834)	7/16/2002 4:01:45 PM
From: isopatch	Read Replies (1) \| Respond to of 36161

Can't get to it. Gone for the day/eom

To: waverider who wrote (15834)	7/16/2002 4:24:10 PM
From: Roebear	Read Replies (2) \| Respond to of 36161

waverider, Since iso is busy, I'll give it a whirl. Your stop was at an obvious support on the 60 minute chart. As such, in a bear market where the MM's are like starving men and groupings of stops look to them like porterhouse steaks at a buffet Your stop might as well have had a bullseye painted on it. It's no wonder it got gobbled up during happy hour, ggg. To me, stop losses are either to prevent SERIOUS losses or to invite numerous SMALL losses, via the above appetites. As such, I would use wider stops. I would have made them stretch beyond the 10 day chart and go under support at 2.00, placing the stop say at 1.98. This would also give you some chance at least were you to file a complaint. A spike down that far might just look brazen enough to temper the MM's appetite even on a day like yesterday. JMHO and my own style, not investment advice. That's all I have to say on this, I don't follow this stock, best of luck, Roebear