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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: unclewest who wrote (3097)1/4/1999 9:26:00 AM
From: Poet  Respond to of 56535
 
Great question.
By selling some of your holdings into the opening rally, you're reducing your risk. An example: Let's say I hold one thousand shares purchased at 18. I put in a limit order to sell at 21 7/8 into the opening rally. If I get hit, I make 3 7/8 times $1000. Then I wait for a pullback and buy back the 1000 shares at 20 7/8. I've bought the "same" 1000 shares but now have $100 profit in my account and still have the shares!


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