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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: croonerjim who wrote (37053)	4/28/1999 4:49:00 PM
From: Jenna	Respond to of 120523

stop losses..Well said.. I've got to post that on the website. I saved myself a lot of points with stop losses. and with trailing stops you don't get stopped out of positions that are improving. I sometimes put in a 3% stop as well because if the trade doesn't have 'instant gratification' I want out. Those are usually the trades that have freshly reported like YUM.. I could have gotten out of YUM -9/16 instead of -2.. and I see my mistake. a)I got in on anticipation yesterday near the close which was fine b) I should have gotten out the moment I saw it was not gapping up or moving up. I learn well from my mistakes and I won't do that again. I posted even once or twice that if in the morning the stock is not up after a good report, then something is wrong and chances are it will move down even more. I have not lost more than 2 - 2 1/2 points on a stock in a very long time, I can't even remember when. I've lost 30-60% on option positions but gained way more than that. (except for October 1997) It was six months ago I lost a 6k option on ZBRA which was 20 call contracts at the time.. This time I was prepared for ZBRA. I once lost a lot on 300 shares of GFI, which was an earnings play that was down 30% the next day and that's it in 3 years. Many 1 or 2 pointers but nothing more. I was down -14 on abov at one time and sold for -7 but the entire gain was still well into the mid two digits. So I would let a net stock run a little larger loss if there is a bigger gain on the whole position.