MJ DeMarco
I followed the science; all I found was money.
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Wow, I hate to think how many people lost their life savings today, or at least parts of it.
What am I talking about? I'm talking about using market orders in stops or triggers ...
For example, if you own stock XXX at 50 and you enter a trade trigger that says, when XXX goes below 45, sell at market. If you use these types of orders, you are in danger of losing your ENTIRE investment or parts of it in one swift stroke.
Here's how:
In today's action when the market approached DOWN 1,000 -- the bid/asks on many stocks were immediately sliced in half, some down to nothing to curb selling. Those who had these triggers with market orders SOLD THEIR SHARES for virtually nothing.
For example,
Look at FAX. Today's low? .01. It should be a $6 stock.
Look at AAXJ. Today's low? 19.12. This is a $55 stock.
Look at GIM. Today's low? .01. It should be $9.
Look at PG. Today's low? $39. It is a $60 stock.
This means some investor sold their shares at these prices. How much? I don't know but I'd like to track down the volume lots and see if someone did in fact, sell at these levels.
Could there be some guy at work right now not knowing that his 10,000 shares of FAX bought at $6.50 were sold off in a market order for 1 penny?
Scary!
What am I talking about? I'm talking about using market orders in stops or triggers ...
For example, if you own stock XXX at 50 and you enter a trade trigger that says, when XXX goes below 45, sell at market. If you use these types of orders, you are in danger of losing your ENTIRE investment or parts of it in one swift stroke.
Here's how:
In today's action when the market approached DOWN 1,000 -- the bid/asks on many stocks were immediately sliced in half, some down to nothing to curb selling. Those who had these triggers with market orders SOLD THEIR SHARES for virtually nothing.
For example,
Look at FAX. Today's low? .01. It should be a $6 stock.
Look at AAXJ. Today's low? 19.12. This is a $55 stock.
Look at GIM. Today's low? .01. It should be $9.
Look at PG. Today's low? $39. It is a $60 stock.
This means some investor sold their shares at these prices. How much? I don't know but I'd like to track down the volume lots and see if someone did in fact, sell at these levels.
Could there be some guy at work right now not knowing that his 10,000 shares of FAX bought at $6.50 were sold off in a market order for 1 penny?
Scary!
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