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To: Tom Hua who wrote (3950)1/12/1999 10:50:00 AM
From: PAL  Read Replies (2) | Respond to of 27722
 
Never never place a stop loss
order for a volatile NASDAQ issue. 9 times out of 10, the MMs are gonna take
you out. Only use mental stop order. By the same token, never place a market
order either.


This advice from Tom is free but it is so valuable that everybody should read and reread his post.

Remember that NASDAQ trade is conducted through MM, while NYSE is by specialist.

Thank you Tom!!

Paul.



To: Tom Hua who wrote (3950)1/12/1999 12:40:00 PM
From: zurdo  Read Replies (1) | Respond to of 27722
 
<<Only use mental stop order>>
That is very good advice, Tom...Stop loss orders will get you whipsawed very quickly on volatility....MMs rely on panic to clean up on dips...So do other alert traders....