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Strategies & Market Trends : You buy a stock. It goes down, now what? -- Ignore unavailable to you. Want to Upgrade?

To: Tony van Werkhooven who wrote (37)	7/8/1998 1:13:00 PM
From: Bald Eagle	Read Replies (1) \| Respond to of 112

Well, I couldn't say what I would have done. I have used various ways of cutting/limiting my losses, most recently ( just this morning, in fact for the first time ) by buying protective puts. It sounds like this would have worked in your case. However, no matter how hard we try, I believe a lot of our trading decisions are based on emotions, so I can't say what I would have done. Just FYI, I own some CHKPF at a basis of approximately 31. It's dropped below 30. So, to prevent a disaster, I have bought ( well, put the order in, anyway ) some AUG 25 puts. I can handle that % loss in one stock and if it goes up all I've lost is the price of the puts ( a little over $1 each ). It's worth that to me to get a good night's sleep! Good luck.