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Technology Stocks : Concentric Network Corporation (CNCX) -- Ignore unavailable to you. Want to Upgrade?

To: Laptev who wrote (99)	4/9/1998 11:27:00 PM
From: Brian E	Read Replies (1) \| Respond to of 377

<<Only protective puts will protect you from this scenario. Just wanted to make sure you realize this.>> Yes, I do realize that. I was referring to a slide over the course of several weeks, not overnight. Most stocks don't open 50% lower, no matter how bad the news is. I realize your point, but as I said, I can't use a protective put here (I don't think that CNCX trades options, let me know if I'm wrong). I use stops for another reason that I didn't mention: because I can't watch the market at all times during the day. If I'm in a meeting or on a business trip, I have a gap of a few hours where I can't get quotes. For example, say the stock closed at 24. Bad news comes out, and it gaps down to 22 at the opening. I get out of the meeting and the price has declined to 20. Without the stop, I'm still holding. With the stop, I'm out at, say 21 3/4, and I have the option of buying the shares back, if I feel that the downward trend is over. If I think there's still more downward movement over the next days or weeks or whatever, I put a limit buy in at $X, where X is my personal belief of the stock's potential low. Of course, with this trading method I'm taking the risk that my stop will not be the day's low, but that's a risk that I can deal with. I just wanted to clarify my position here. I'm not trying to be argumentative with anyone on this thread. I'm bullish on CNCX but I have a stop in place in case bad things happen and I don't have the chance to react. Good luck everyone, Brian