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Author: Northern7 Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76106  
Subject: Another question Date: 9/30/2004 10:02 PM
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Is it possible to buy a stock and indicate that when it hits a certain point you want to sell?

If so, if you buy something at $20, and you indicate that you want to sell at $25, and it takes a number of years, say five or six, to get there, would your request still hold?

Thanks...
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Author: Ceberon Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 42528 of 76106
Subject: Re: Another question Date: 9/30/2004 10:11 PM
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Someone could correct me, but this is called a limit order. You would set a sell limit order at $25, and set it as "Valid until cancelled". So yes, I believe it's possible.

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Author: Crosenfield Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 42529 of 76106
Subject: Re: Another question Date: 9/30/2004 10:16 PM
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Many brokers will cancel your limit order if it doesn't execute in a reasonable period of time: say 3 months. So ask.
Best wishes, Chris

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Author: TheBadger Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 42530 of 76106
Subject: Re: Another question Date: 9/30/2004 10:38 PM
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What you are referring to is a "Limit Sell, Good Til Cancel" order, most often shortened to a "GTC". Different brokerages do put an expiration time limit on GTC's, some @ 90 days, some @ 180 days, etc. so one needs to watch their open GTC's and replace them as time passes.

As an aside, my brokerage puts a 180 day execution time limit on GTC's after which they expire. Instead I really wish I could set the time limit instead.

TheBadger




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