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Technology Stocks : Data Broadcasting Corp. (DBCC) -- Ignore unavailable to you. Want to Upgrade?

To: Len who wrote (2424)	1/9/1999 3:03:00 PM
From: Ariella	Read Replies (1) \| Respond to of 5102

Len -- did you mean stop instead of sop? In practice I find this difference between a stop loss order and a limit order: If you tell a broker you want a limit order, it will go on the books for that day only and is cancelled at the close of market if it hasn't been executed. On the other hand, if you say you want a stop loss order, it stays on the books forever unless you cancel it. For the record, I never use stop loss orders because they don't work in big gaps down -- if a stock gaps down below your price, the stop loss order gets turned into a market order and your shares are simply sold, shares you might have held for a dead cat bounce at least -- and often the MMs will come and collect the ones trailing a couple of points behind and then move the price right back up, i.e, they "steal" your shares out from under you. MMs can see all the stop loss orders. Hope this helps. Ariella