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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (5485)	10/14/1998 6:39:00 PM
From: Roman S.	Respond to of 12617

Beautifully stated Steve. If I get a 3/8's move and I start seeing some bigger blocks selling on the offer, I'm usually out right then and there. On the downside, If it goes against me, I usually enter a stop about $200-$300 below my entry. that's the bottom line. To Irby, I asked this morning when is the First Annual Final Frontier Picnic going to start ? I figure 1999, but you should be the man to pick the when and the where.

To: steve goldman who wrote (5485)	10/14/1998 9:15:00 PM
From: dch	Respond to of 12617

steve, regarding your advice to use stops: I understand the logic, however I have one experience where it seems I got robbed by using a stop. I wasn't aware that mms can see stops--I thought only my broker (schwab) knew about the stop and would execute it (present it to mms) only when and if the market hit that point. On the day I got "ripped off," the stock I was in traded 1.50 above my stop all day except at one point in early afternoon trading, it dropped down to my stop, picked up my 2,000 shares, then jumped back up to the level it had been trading and eventually closed up .75 for the day (2.25 above my stop--which was the day's ever-so-brief low-point). Since my 2K shares were the only shares picked up at that drop, it seemed obvious to me the mms got away with theft. Nonetheless, I understand what you're saying and my situation perhaps doesn't conform to the logic and investment strategy you're discussing. Just wanted to mention what happened to me and say why it seems risky (to me) to place stops since they can (as far as I now know) be seen and "picked off at will" by mms. --dch