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To: Andrew Brockway who wrote (39608)	3/11/1999 11:35:00 AM
From: SliderOnTheBlack	Respond to of 95453

Andrew; ie: using stops... First; the stop depends on what your ''cost'' basis is. In ESV; say if you own it at $9 and it's trading at $12 1/4 - perhaps I would protect my gains, but yet not want to trigger a stop and sell out my position on a normal retracement, or intra-day low. So then perhaps protect 2/3rds of your gains - maybe set a stop order at $10 15/16ths to $11 3/16ths etc. If you own at say $10 7/8ths - maybe use a tighter stop at say $11 1/2 to protect a small profit & commission costs. Or, depending on your longterm view - many people use stop losses at a small loss position say - $9 15/16ths if you own it at $10 7/8ths... It all depends on where you own the stock; how profit oriented you are, or who longterm your view is - and if you aren't worried about a 10-15% loss, but want to only avoid catastophic losses etc... Hope this helps... PS If ESV say moves up to $15 a gain of nearly $3 - I would move my stop up $2 , or even the full $3 of my gain to make sure I do not give any profit back....in my opinion - keep moving stops up as this run up continues - perhaps only use a stop for 1/2 or even 2/3rds of your total position - that way you are not completely out of a reversal move up and can participate in a solid run up - but also, protect profits...