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tnyellowtomcat

06/20/11 1:12 PM

#2252 RE: Flatcat #2250

Cat, and all,

In this, and any stock, a "market" order just clears out the bid, and if large enough, the limit bids below. By definition, the stock sells off in price!

In addition, one never knows what one will get with a "market" order. We saw that with the .01 sell prices last April on previously $30 stocks on that "flash crash". Again, the seller gets a poor price for a speedy execution, and the rest of the longs suffer. A "market" order is the hallmark of panic selling, and is essentially a selfish "me first" action that shows a lack of caring about the impact on other investors.

Selling via the use of limit orders at the asked, or above the asked, allows the seller to get out without impacting the share price. True, such orders load the stock with supply. As such, they slow the advance of the share price, but at least they don't result in negative price action.

I urge people here who are long and who want some of their money out to use limit orders, placed on the asked, or above. Such is a way to sell, and not ruin the share price for all.

Think about it - Tomcat

KZMike

06/20/11 1:58 PM

#2256 RE: Flatcat #2250

This person will end up with 100k+ shares and plans to sell 10%+ to cover bills, etc. . . was paid shares in lieu of $$$ and wants to not depress share price if at all possible. . . I know there are more than a few in this situation.

Selling using a GTC order in an up trending chart seems to be wise in my mind