[boondock]

Hello, great site, very useful for someone getting into using weinstein methods. My question relates to the use of stop orders in conjunction with weinstein strategies, a lot of trading and investing books recommend using stop on quote orders but I have a hard time trusting their use, so I was wondering how others handled using buy stops as advocated by weinstein. The reason i don't trust; I was looking at ISLE as a possible continuation buy due to my interpretation that it had broken out on 1/27 from a 9 month consolidation pattern then gone into another pennant like consolidation. I set a stop at 9.31 last weekend, with a limit of 9.5 to protect me from getting in at market after a large up gap. THe stock had closed at 9.09 friday, opened 9.02 monday, but my stop triggered and I was in for 9.07. Thankfully I had my eye on my account, and got out of the position with .5% loss as the stock went on to register about a 10% loss over next couple days. Inquiring with my brokerage they reported that the stock had an offer of 9.99 over the weekend and therefore my stop was hit. So how do you weinstein vets use stops buy or sell, when either trying to capitalize on a move from Stage 1b to 2a or protecting capital with sell stops. Do you not use them, only have them in place during trading hours, etc? Read a book on trading by O'Conner that posits sell stops shouldn't be used at all as market makers know where they are and go after them. Given that brokerages trigger stops based on National Best Bid Offer prices, couldn't any punter put in an out of line bid or offer on one share to trigger any stops out there which seems to be the case in the above example? Wasn't sure where to turn for answers to these questions so I'd really appreciate any input. Thanks