Really in need of an answer...

[jm2552]

This is what may be a dumb question, but I NEED to know. I'm in BIPH at 2.00, and just learned that I have an appointment at two o'clock. I want to dump if it goes to 1.95. What do I use, a limit, a stop or a stop limit? This is my first trade with Scottrade, thus I'm a little mixed up here. And embarrassed for not doing my homework.

[BOOOYAHOOO!]

Use a sell stop. If it was me I'd just take the 2.00 market price right now and then wait until BIPH trades to below 1.40. Then you can buy and not have to worry about using stops at all. But that's jis me! :D

[jm2552]

So I take it that's just a "stop" when using Scottrade?

Thanks for the help, and I take it you don't particularly like BIPH :lol:

Oh, how risky would it be to just leave overnight, if I'm not back home by market close? (I think I know the answer to that)

[JimJeep]

Yes, just a stop and then enter your price.

[jm2552]

No good, OTB/Pink Sheet stocks, Scottrade won't let you place a stop on.

Anyway, made my appointment, back at the screen. Now, just wondering whether to let it sit overnight...

[jm2552]

No good, OTB/Pink Sheet stocks, Scottrade won't let you place a stop on.

Anyway, made my appointment, back at the screen. Now, just wondering whether to let it sit overnight...

[xboilermaker]

Simply use a limit order jm. If you're selling, it'll take you out if it reaches high enough. If you're buying, it'll pick it up when if gets low enough. You decide what you will accept, or if buying, what you will pay.

I'm sorry, wasn't paying attention. You want protection in case it tanks. Has to be a stop.

[BOOOYAHOOO!]

jm, here's the complete lowdown on this dawg that is BIPH, there is major support at 1.70. It put in a top today at 2.03 that will be taken out at sometime in the future with a higher high. That will happen even if it hits the skids to the price I said I would buy it for. So if you are a long term player it tain't nutthin ta be frettin over. The only definite advice I can give you is to sell any rallies, BIPH actually has an outside shot at 2.20-2.25 based on the 1.70 support area. Past that and you'd be stretchin it. Of course it could simply trade just high enough to take out the 2.03 price and then head lower from there because all it really needs to do is take out the 2.03 high. Looks like the markets may retrace on the open but rally back up again shortly afterwards, so I wouldn't sell into the early selling. Once the next rally begins put in a sell limit at 2.20 and see if that gets hit. If it trades through 2.03 and then turns back before it hits your 2.20 then set a sell limit at 2.00 as soon as the axed price hits 2.00. I suggest you stay away from crap like this stock if you are a newbie. Good luck to ya!

[jm2552]

Thanks Booya, for your insight. My other pick was TWTI, but I switched to BIPH at last minute. Should stick with original thoughts I guess.

I'll ride out BIPH, should be OK I believe. This was my first day or short-term trade, so I thank all for the guidance.