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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?


To: melinda abplanalp who wrote (17968)11/28/1998 11:20:00 AM
From: Tim Luke  Read Replies (2) | Respond to of 119973
 
adsl 768 X 768...just a hair under t-1 for about $100 a month.



To: melinda abplanalp who wrote (17968)11/28/1998 11:27:00 AM
From: J. C. Dithers  Read Replies (1) | Respond to of 119973
 
Stop-loss trickery (?) Would love some advice from you guys ...

while the market is closed and things are quiet. My sad tale:

I was holding 1,000 MALL shares on Tuesday. When the price was currently about $33, I raised my stop-loss to $29. My stop was executed very soon thereafter ... and the momentary dip to $29 happened so fast that the actual selling price on the execution was 31-1/8, 2-1/8 higher than the stop. After that, MALL just resumed going on up. Whenever I have been stopped out before, the execution has been just about instantaneous when the price touches the stop price, so that the shares are sold at that price or a tad less. So here's what I think: That the momentary drop to $29 on Tuesday was an MM ploy to take out all the $29 stops so fast and momentarily that no one would have been able to buy at that price -- in other words, a ploy to pick up scarce shares.

By now this has cost me about $30,000 in lost MALL profits. Is my suspicion plausible? And can you do anything about this sort of thing?

Any advice from you experienced traders would be much appreciated.