Stop Loss Order Didn't Execute?

[#1]

Why did my stop loss order not execute? Share price was 18c on Friday, today its 12c. The last day of trade to receive dividend was on Friday so I set my stop loss order @ 17c.

[SimonPB]

it triggered at 31 May 2010 09:10 .. but hasn't traded as the best buyer is at 12c and your limit to sell was 16c ..

[#3]

I had a stop loss on implats a few days back.It was set to trigger at 19650 and sell at 19630c. The stop loss triggered but it never sold and I lost a couple of grand. Any idea why this could have happened?

[SimonPB]

I would assume becuase the best buyers were below your sell price of 19630c ..

[#5]

I thought so, just it seemed a bit weird to me seeing that there is such high volumes on a share like Implats.Anyway I guess you learn from your mistakes-rather let it sell at market or make your limit a lot lower...

[#6]

I thought so, just it seemed a bit weird to me seeing that there is such high volumes on a share like Implats.Anyway I guess you learn from your mistakes-rather let it sell at market or make your limit a lot lower...

[SimonPB]

well in your example youu difference is 30c and that's often just teh spread .. so somebody hits the offer, triggers your stop and next trade pushes bid down and by the time your trade arrives (seconds later), everything is lower .. Remember that if you put in a low ball price to sell at and there is a better price in the market before you - you get the better price ..

[#8]

Ok, thanks for the help.

[#9]

Thanks guys. Damn.. I lost quite a bit of money. Any suggestions on share CMO? They paid a heavy dividend on Friday

[topgun]

Why are you panicking? Friday's cum divi price was 18cps. Today, CMO is trading at 12cps which, added to the 5cps divi equal 17cps. Net cash per share after the divi comes to 17.4cps - so, you are in effect buying cash at a discount and receive everything else in the company for free - and another R23m (7cps after tax) will accrue soon from the sale of the chrome reserves. Even in the event of a break-up, CMO should be worth 20cps. Omo.