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The stops were for everyday action for individual stocks. When I saw the
market was crashing, I thought it would last a couple days, and I'd just
wait it out, rather than sell at the bottom. I guess, next time I'll know
better.
Thanks,
Mike
On Monday, August 31, 1998 11:45 PM, Al Taglavore [SMTP:altag@xxxxxxxxxxxx]
wrote:
> Mike, you state: "...I had mental stops when I bought the stocks, but I
> suspended them when the market crashed...." What are stops for?
> Al Taglavore
>
> Mike Lucero wrote:
> >
> > After seeing William O'Neil's follow-through day buy signal, I bought
> > stocks last Monday, and have ridden down 17%. I had mental stops when I
> > bought the stocks, but I suspended them when the market crashed. (I
only
> > watch the market near the end of the day.)
> >
> > I want to know the common wisdom of whether you should you generally
sell
> > your stocks when the market is crashing, or hold on, if you've already
> > suffered the crash? I was on vacation during the October 97 crash, but
had
> > (poorly placed) hard stops and sold out during the crash. I thought I
would
> > have been better off just holding on if I'd missed the signals to get
out
> > early.
> >
> > Thanks,
> >
> > Mike
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