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Jim
Seems I'm always relearning the same lesson over and over and over again. :)
Guy
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]
On Behalf Of Jim Greening
Sent: Saturday, June 20, 1998 2:30 PM
To: metastock@xxxxxxxxxxxxx
Subject: Re: AMZN & SEEK
Guy,
Hope I learned my lesson, once again <G>.
Jim
-----Original Message-----
From: Guy Tann <grtann@xxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Saturday, June 20, 1998 3:18 AM
Subject: RE: AMZN & SEEK
>Jim
>
>We always use visual stops, basis close. I always get stopped out at
the
>wrong time when I use stop loss orders. I feel better taking a
chance of a
>little additional loss then letting those jokers on the floor make
their day
>with my money.
>
>Regards
>
>Guy
>
>
>-----Original Message-----
>From: owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]
>On Behalf Of Jim Greening
>Sent: Friday, June 19, 1998 2:00 PM
>To: Metastock
>Subject: AMZN & SEEK
>
>All,
> I was worried about today being triple witching and being busy
>where I couldn't watch the market, so I put a stop in with Schwab on
>AMZN and SEEK. I set the stop just under the mid channel line of my
>short term up trend channels which is usually a good stop point for
>stocks taking off like AMZN and SEEK have. Of course both were hit.
>That left me with a small gain in SEEK and over a 60% gain in AMZN.
>Not bad for two weeks in AMZN and one week in SEEK and something I
>shouldn't complain about.
> However, it also reinforced why I don't like to give stop orders
>to my broker. It seems like the specialist always takes them out
>before allowing a stock to rise. SEEK stayed down, but AMZN was
>actually up four points for the day. I would have been better off
>with my usual practice of waiting to see if they closed below my
stop.
>If I had done that, I'd have a market order to close SEEK Monday and
I
>would still be in AMZN. Oh well it never hurts to relearn a lesson
>while taking a great profit <G>.
>
>Jim
>
>
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