Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (2195)	1/13/1999 10:26:00 PM
From: 1st.mate	Read Replies (2) \| Respond to of 62348

News*NewsNews** ARP has what would appear as exciting news on more drilling...may be worth a trade. I would not expect the volume of ????what is that stock<ggggg> Worth a look... I says a high of $6.22 tomorrow. But then what the hell do I know!! L8r

To: the Chief who wrote (2195)	1/13/1999 10:34:00 PM
From: Rob Davis	Read Replies (1) \| Respond to of 62348

Hi Chief, Not to beat a dead horse, but I don't think that a market order would revert back to a STOP order on a rise above the STOP. If there is no limit associated with it, it simply becomes a market order and is executed at current market prices when it hits the floor. There is a slight time lag between the stock trading at your STOP price and your order hitting the floor since an ON STOP order is held in your brokerage firm's computers (not the exchange's computers). A STOP with a LIMIT order will simply become a limit order once the STOP price has been hit by a board lot of stock. Therefore, if you have an order to sell on stop at $6.00 with a limit of $5.50, as soon as a board lot trades at or below $6, your order would simply become an order to sell xxx shares at $5.50 (or better). With a tight limit (of say $5.85 in the above example), if the stock trades below your limit before your shares are sold, you would simply become part of the ASK at $5.85, thereby trading shares whenever the price rose to, or above, $5.85. The borker (intentional sp) will always try to get you the best possible price. I don't like market orders on fast moving stocks so quite often I'll use a limit order above the current price to attempt to get shares. Ex: stock is $5.80-$5.90 and moving quick, instead of placing a market order for xxx shares, I'll place an order to buy xxx shares at $6.20. That way, I know my maximum price and I still have a good chance of picking the fast moving stock up. Just my opinion (but it seems like we should nail down the definition of an "on stop" order since it is crucial to many daytrading strategies. Cheers, Rob