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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: - who wrote (124)	6/6/1999 5:50:00 PM
From: KM	Read Replies (3) \| Respond to of 18137

One more question. How would you handle this situation. I was long NSOL the day before it split. The stock had hit 307 and was pulling back a bit. It was about 2:00 CST (an hour before the close). Suddenly, for no reason at all that anyone could discern, the trap door opened and it went into utter freefall (down 43 points by the end of the day). The bid dropped completely away. It was impossible to type an order in fast enough to hit the bid. What I ended up doing was offering BELOW the inside bid by 3/4 of a point and getting hit on the way down. I ended up with a nasty loss. Is there a better way to have handled that? What do you do in fast falling markets?