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I left all my stops in, and when a bunch were hit, I sold everything else. Thanks for the advice.
Mike
-----Original Message-----
From: Al Taglavore [SMTP:altag@xxxxxxxxxx]
Sent: Thursday, October 01, 1998 9:07 AM
To: metastock@xxxxxxxxxxxxx
Subject: Re: sell stop hit after hours
I have been taught that a cardinal rule is to never, never lower your stop.
In high market volatility (like trading Bonds when an unemployment report
comes out, or when the market is set to open down 100 points) you may want
to remove the stop because of the expected wild swings that occur at the
openings, and then replace them after that first 1/2 to 1 hour. For
whatever reason you decided to place your stop at a particular number, that
number should still be valid. You may raise a stop, however.
Al Taglavore
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> From: mikelu <mikelu@xxxxxxxxxxxxxxx>
> To: 'metastock@xxxxxxxxxxxxx'
> Subject: sell stop hit after hours
> Date: Thursday, October 01, 1998 2:02 AM
>
> I have a sell stop on JNJ at 77 1/4. Using Schwab I see JNJ is 77 1/4 bid
> and 78 5/16 ask. (IBM is 127 7/8 bid 128 5/8 ask.) Where are these huge
> spreads coming from, after hours trading? I think if I don't adjust my
> stop, I'll sell at the open, which seems bogus. I'm feeling I should
lower
> or remove my stop. Any market wisdom?
>
> Thanks,
>
> Mike
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