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Strategies & Market Trends : APMP (formerly APM) -- Ignore unavailable to you. Want to Upgrade?

To: Bald Eagle who wrote (10075)	2/19/1998 8:11:00 AM
From: Christopher Loe	Read Replies (1) \| Respond to of 13456

<Sorry, but I can't agree with you. What you are proposing is very different than real trading. Wouldn't it be great if I could tell my broker to buy at the lowest price of the day and sell at the highest! Unfortunately, the real world doesn't work that way.> For one thing, your right, if you use a broker he'll definitely screw up your trades. I trade using the internet at $12 per trade up to 5,000 shares. My trades are my own, whether they are good or bad ones, fortunately, I make more good trades than bad ones. Maybe my point should have been, could we change the rules to buy at the close Friday to prevent getting stuck with gap ups or down on Monday. That is reality. I bought more LGWX on Friday under 10, it gapped up to 10 1/8 on Monday morning. When you buy 5,000 shares, 3/8 comes out to $1,875.00. To me or anybody, that kind of money is nothing to sneeze at. Last week on Tuesday I had mentioned I would try like hell to buy more Wednesday morning, but hadn't decided a buy point, well I'm glad I didn't buy at the open because it gapped up to 11 5/8 from 9 15/16 on Friday's close. I never buy like that, it's the wrong move most of the time. The stock continued to decline closing at 11, never gaining any momentum. I didn't sell either, the prospects are too good right now. Maybe I have the rules wrong, can we buy at the close on Friday for Monday's open? Is this not reasonable and reality? I often buy on Friday if I think market conditions are right, such as: earnings, stock that was sold off due to panic selling(PHV- made a nice 11% gain on this one,another stock I follow closely), upgrades, downgrades, etc. I often buy out of favor stocks that get hit, but only those that I don't mind keeping if things don't work out. For instance, take PHV, I owned this one in my IRA for about 3 years, sold awile back at 19 1/8. I watched it drop all the way to under 8, time to buy, it's been a great trading stock as of late. Again, I bought this one at Friday's close at 8 5/16, Monday it gapped up, sold it a few days later at 9 1/8. What I should have said was, could we put a buy price in at Monday's open, but the reason I didn't, I realize this would be a nightmare to track. That is reality trading, at least that is the way I trade, trying always to get the lowest price, if it doesn't go, so what, try again tomorrow. Sorry for the long post. See ya!