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Enterprise Products Partners L.P. Message Board

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  • twfry_2001 twfry_2001 Mar 18, 2011 12:25 AM Flag

    why the drop?

    You can probably find the information with nasdaq, but I remember seeing the chart and EPD only dropped below $37 for less than a minute. It looked like one large sell order that took out all the offers. The price immediately rebounded off that spike down since no human in their right mind would sell in the mid-$30s or below.

    I'm convinced these flash crashes are happening so the banks can buy out the stop loss limit orders. Basically you got robbed, in the future don't use stop loss orders. (I do suggest limit buys though, had one on EPD at $25, just missed)

    Personally I'm hoping EPD gets taken down to $20 again, this allows me to reinvest at better prices. Not sure why anyone would want to sell just because the price went down.
    It's buy low, right?

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    • total whiplash-- discount broker (unnamed) stated that stock dropped $1.51 in twenty seconds-- further stated that the trigger on my trailing stop loss was seconds before the sell order went to the market--- and that my order was executed in orderly fashion. I requested substantiation & was given one page off the bloomberg system--- which listed trades at the price I received -- but did $38 to $36.45. Since I had a stop limit executed at $38.15 in an account of a 2d discount broker-- I have asked them for same info and they staded they will provide it. Long & short of it-- never use a trailing stop order--- it becomes a market order & we all know that rarely do good results occur. Since the net loss to me is under $1,000 I doubt I will be pursuing the matter.

 
EPD
26.47-0.13(-0.49%)Aug 30 4:02 PMEDT