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.

Technology Stocks : NEXTEL -- Ignore unavailable to you. Want to Upgrade?

To: Satellite Mike who wrote (3881)	12/24/1997 8:33:00 PM
From: Al Gutkin	Read Replies (2) \| Respond to of 10227

MV: You and Arnie may be right in principle, maybe diff. for small guys. Stop orders can be used for many purposes, just like selling short. As a matter of fact, if executed, a stop order, without the stock in your inventory, results in a short sale. In doing this you agree to provide the stock to your broker. Lately I have been playing with MSFT and DELL trying to outguess the market. I have been watching the stocks vibrate for some time now and finally decided to jump in. I noticed that once a direction is determined the stocks move quite a distance before reversing direction. Example the fall of MSFT. Today I bought at 123 11/16 and immediately placed the stop at 123. The stock reversed and headed south, I was sold out before a catastrophic loss. The stock hit bottom at 118 and change, I bought it again and immediately placed the stop right behind my purchase price. The stock went up to 119 and change with me adjusting the stop order to follow it up, protect my gain. The stock reversed quickly and I got sold out at a gain of 1 point. I'm no hero, today I lost, yesterday I gained. If you buy and sell stock useing a computer, especially with fast moving stocks, you cannot get your trade entered and executed before the stock moves way out of your trading brackets. Stops protect against unplanned losses and insure planned gains. If a person has a strong heart, big balls, good eyes, fast computer, a plan that works, and committment, there is money to be made. Each one of us has to decide if we are that person. The answer to that question is presently illusive to me. I don't know what the burn out rate is, In my case, it's probably quitting time when my office gets busy, or once NXTL starts to move upward on a consistant basis. Learning how to trade is important and investors should not be discouraged from trying and learning. We are like little kids, tell us not to do it and we're going to try anyway. If the little kid gets shocked, he doesn't stick his hand in the light socket anymore. I agree with most of what you, Arnie, Fred Smart say, but maybe I'm not a dumb as I make myself out to be. In life, sometimes it's enlightening to make fun of ones self, also enables more quiet people to read the posts and say "yea, that happened to me too, I'm not alone with my feelings" Bragging doesn't sit well with people, but life experiences do. Stay tuned for a good laugh! Regards a happy to be alive, Al