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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: SE who wrote (3871)	9/10/1998 4:05:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 44573

I was afraid of a spike rally, like this one over the last 20 minutes. Such a stop-running rally crushes you on exits. Had the stop not been hit and it continued down I would have removed it and taken it off at market somewhere. On the other hand, a spike rally would have left me less time to hit a market order, so it was designed to protect just 4 points and that was it. In hindsight...as usual, the obvious (to me, I saw it as soon as I put the phone down) place was just above 86. Even better would have been 991.50 -- so it goes.