1/24/13 SIRI Daily Thread - Where do we go now?

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Originally Posted by SiriusBuzz

Thanks for the clarification. Just setup my trade -- sell half it if drops $10 and sell the other half if it drops $15. I'm up a bunch so, I wont cry too hard if it shoots up.

How often do you guys setup trades like this? Ive been such a buy and hold guy over the years I've have a need for anything like it. What are the downsides other than a bounce taking out your position?

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Charles. I've done this a few times. A bounce won't take out your position. As you stock price increases so does your $ 10 & 15 floor. The higher the stock the higher your stop.

I did this when I thought the market was going to tank during election time. Turns out many sells triggered. Most recovered but not before I was able to repurchase at a lower price. This is a good option if you think your position may take a hit. Protection if you will. 1 word of caution. Your loss price may be lower if the stock dumps during after hour trading. That's all I know. Thanks Hedymoney