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

To: rhet0ric who wrote (10053)	3/25/1998 3:49:00 PM
From: L.Gardner	Read Replies (1) \| Respond to of 213173

By escalating stop-loss do you mean putting in a good-till-cancelled stop order and raising it as the price rises? Yes. I would worry about a sharp spike down hitting the stop, followed by another spike up, which it has done several times in the last couple months. That does happen. I've been stopped out that way several times. But often on a quick rebound you'll be selling at or even above the level where the down-tick started by the time your order gets placed, losing only the commission on the sale. The same applies on a limit. My limit orders almost always get filled at an amount higher than what I picked. I use charts to guess the width of potential spikes, and set my open orders at about a point below my estimated lows. Unscientific, to be sure, but it's been pretty safe so far. I'm curious to know on what kind of frequency you trade in and out of AAPL. Intra-day, days, weeks, months? Sorry to get you absorbed with my trading habits, but ftr, it all depends on my gut feelings on aapl, which is a special issue, as I am a long-time Mac user who has a special fondness for the company, so I've always watched it very closely (which has given me a great education in market psychology). My average position spans several months, but I've never liquidated entirely. I'll probably get flamed for this, but I've always held 200 shares for sentimental reasons, and always will. Outside of aapl, my strategy is contrarian/long. Buy and hold. I look for good names, pick a buy-in, call in an open order, buy, set a fairly long, fairly reasonable, target and sell when I reach it, no matter what. I learned that greed is fatal. Kind of simple-minded, compared to some others who frequent this thread, but it's worked very well for me. I'm a controlled optimist, which makes playing options hard, as both puts and calls go against my psychological grain. Enough already, L.G.