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Author: stevenjklein Big funky green star, 20000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2890  
Subject: Re: My order was executed after it expired Date: 5/25/2012 11:41 AM
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What price did you get it at and are you happy with it…

I got it at $39, and no, I'm not happy with it. I readily admit that I would have lost money anyway, but not as much.

I honestly don't think FB is worth much more than $10/share, but given how over-hyped it was, I expected it to jump up.

My "IPO strategy" is to buy over-hyped IPOs at the market open, and then issue a trailing stop limit order for 10%.

I did this with Linked in. By mid-day it jumped way up, then started to fall. When it fell 10% of that day's high, it sold and I got a very nice return for a 1-day investment.

But I never entered the stop-loss order because I never knew (until yesterday) that my buy order had gone through. If I had, my shares would have sold when the price fell to $35.10 ($39 minus 10%).

Since it's now around $32, my "excess loss" is about $300.
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