let's say u are hoping a stock will go down before buying the stock. but don't want to miss a run up that might come-and the stock is at 4.90, ticker symbol XYZ. and u will pay between 5 dollars and 5.10, and want 100 shares.
u could enter the order: buy 100 XYZ 5 STOP 5.10 LIMIT
and u will only buy the stock at 5.10 or a lower (better) price, but only when the stock hits 5 dollars.
u can have the stop and limit price be the same price (i think the AMEX might require that...never placed such a trade before) but if u do that be aware your order may not be filled completely or at all.
[This message has been edited by Junky (edited February 15, 2004).]
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