Conrad,
I agree with the volatility these days, GTC are an advantage. I use them for sales for sure to keep up with cash requirements and lowering risk. But for buying and expending the cash, I think some type of delay is warranted. For example, one would be delay between buys 30 days unless the buy signal is below some moving average line that a particular strategy might use.
Of course if you are in a really volatil equity then maybe you always want to buy the dip :0). The equities I purchase have been moving up for a while so I have been following AIM buys because there have been few dips and the environment for them is still positive. But in the 2000-2002 era, even if you waited between buys I, like I suspect others, ran out of most of their cash if they were following a strategy. Or they just could not pull the trigger.
How much emotion is there now?
Kinda brings you back to following your strategy, whatever yours is.. Probably why we like AIM, myself included.
Sam
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