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"My problem with that is what if shit goes haywire early on (which it usually does). I have many times averaged into a position just like you near the open only for things to go so bad so fast that I take a much bigger loss then anticipated" Yep, that happens on an all too regular basis...

Got ya, i usually try to give stocks a decent amt of rope early on until the trading starts to get a little more efficient, then i might set my stop at the low of the day. As the day goes on, i continue to tighten the stops further. Example, at this point (with the stock at 21.53) if the orcl...

What I do after i'm in a position is wait for it to approach a profit target or wait for the tape to tell me i'm wrong, not ask myself over and over "if i were flat right now would i buy this again". I'm not knocking that strategy if it works for you.

target is 22

still been adding to the orcl all the way down, now at 117 shrs avg cost of about 21.55, will try to hold all day as long as mkt is supportive

added one last time orcl, now really full at 85k shrs at 21.57 avg. I shorted 4k of the snda and the tape quickly told me i was wrong so covering it for a loss.

paid up for more orcl, now full on the position w/53k shrs at avg 21.56

filled 21k orcl at 21.41, bidding more there and lower but will cancel those orders soon

Ok, im definately buying the ORCL, would like to get it near 21, but will pay up a bit if necessary. Also looking to short some SNDA.

Im a little short on ideas this morning. I can buy orcl just above 21 and i can buy a lot if it were to get to 20.50ish.

Hmmm either that or keep doing what's worked for 7 yrs. I'll think about it Ps my last response got garbled in the quote so I'm reposting. Sorry for the redundancy.

Confession: every nickle i have, i made trading.

Confession: in 2003, i funded my trading account with $30k. It sure would have been nice if a "long term asset allocation model" was an option back then. It wasn't. i was poor. If i'm gambling, im on one really hot, long run. Pls don't jinx it :)

That sounds more like bragging than confessing :)

I just paid 33.12 to cover the remaining ADBE. Daily PnL positive 38k, which includes a 7k loss from closing out my ebay options from yday. A good day for sure, but still plenty of ground left to cover to make up for my crappy performance earlier in the week. With no positions, i'm heading out...

I covered the DE at a slight loss and got a partial fill covering adbe (20k shrs) at 33.01. leaving my 33.01 limit in or remaining shrs adbe

sold the vrsn for a 23 cent profit, about what i had hoped for on that one and pressed the adbe up to 52k shrs

closed the amzn for a $1 gain to take a profit and pressed the adbe up to 33k shrs