sure am glad I put a stop in at 195. That was my life savings...so all I lost was 2 bucks on my 13500 shares.....sheese it coulda been a lot worse. THANK GOD for the stop loss.
God I hope these "life savings" posts are just someone looking for attention. I swear. If anyone here is gambling with their life savings, they really need to go home and rethink their lives. That's ridiculous. Anyone unrealistic like that deserves everything the market dishes out.
Rule of thumb - never, *ever*, have more than 10% of your total holdings wrapped up in a single position. Anything else is just being reckless beyond pity.
There is no way somebody would be speculating at those levels without knowing the basics of how the system works, so the whole thing is just a joke. However, if this were a real situation I would suggest cancelling the stoploss and talking the situation over with a trusted advisor. Based on the overall financial picture, it might be smart to cover part of the short tomorrow and let the rest ride for awhile.
On the other hand, if the original poster has not yet sold his soul all he has to pick up the phone and call xxx-xxxx and we will be happy to help him out of the hole.
Good idea to cancel short, but may not be necessary.
I was in similar situation but long a couple years back. Stock blew past my stop in afterhours trading, gapped down in morning. My stop never executed even tho I didn't cancel it. Is your trigger price set different than your sell? (Sell at market if trigger is set vs sell at set-limit price)
I would expect the same to happen in your case if it was a set-limit stop order.
Good Luck to All Longs/Shorts.
What it means is unless you had a stop limit order with a specific number on it- a regular stop order becomes a market order if the stock gaps through your limit.. It could be bloody. People should not go short if they are neophytes.Good luck.