dmiller--
Have been considering stops since your recent postings. Agreed that everything one reads from the pros says use protective stops on all trades. Of course, they also say be diversified, and I've been 100% IDCC. Time will tell if I'm and idiot or genius on that. Anyways, how do you set your stops? Do you use a % of the price, say 80%? Or if it breaks significant support levels?
I have been one to wonder about naked stops due to the mm risk you have been making light of. Just Thursday, we were steady for a while @ $16.50-56ish, then instantly dropped to $16.25, while some big blocks moved (10k +10k+ 6k shares) and then back up to $16.50, all within 120 seconds! Things like that make stops a little scary with IDCC unless they are placed pretty low. As we become more mainstream, I would expect to see less of this sort of fun and games, and stops might have a more predictable effect. Appreciate your input on how you set the stops. (By the way, I've held during all 3 of our major drops, from $80 in 2000, last year's NOK and the recent NOK, so I guess well placed stops could have really made a difference for me).
Davids
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