orders for 4/11

[klin]

<pre>
Symbol Date ChartScript Order Shares Type Price Signal Name
ACTU 4/11/2002 VF Script Buy 1048 Limit 4.77
ADBE 4/11/2002 VF Script Buy 156 Limit 31.97
ADIC 4/11/2002 VF Script Buy 588 Limit 8.49
ADRX 4/11/2002 VF Script Buy 161 Limit 30.87
ADSX 4/11/2002 VF Script Buy 8496 Limit 0.59
ADVS 4/11/2002 VF Script Buy 110 Limit 45.06
AGIL 4/11/2002 VF Script Buy 683 Limit 7.31
AHAA 4/11/2002 VF Script Buy 437 Limit 11.43
ALGX 4/11/2002 VF Script Buy 2525 Limit 1.98
ALSC 4/11/2002 VF Script Buy 568 Limit 8.80
ALTR 4/11/2002 VF Script Buy 276 Limit 18.09
AMAT 4/11/2002 VF Script Buy 108 Limit 45.90
AMKR 4/11/2002 VF Script Buy 264 Limit 18.92
AMLN 4/11/2002 VF Script Buy 574 Limit 8.70
AMRI 4/11/2002 VF Script Buy 278 Limit 17.94
AMZN 4/11/2002 VF Script Buy 452 Limit 11.06
ANAD 4/11/2002 VF Script Buy 486 Limit 10.28
ANSS 4/11/2002 VF Script Buy 226 Limit 22.03
ARXX 4/11/2002 VF Script Buy 474 Limit 10.55
ASYT 4/11/2002 VF Script Buy 400 Limit 12.49
ATYT 4/11/2002 VF Script Buy 529 Limit 9.44
AVNT 4/11/2002 VF Script Buy 336 Limit 14.84
AVNX 4/11/2002 VF Script Buy 1790 Limit 2.79
BEAS 4/11/2002 VF Script Buy 540 Limit 9.25
BFRE 4/11/2002 VF Script Buy 3454 Limit 1.45
BPRX 4/11/2002 VF Script Buy 526 Limit 9.50
BRCD 4/11/2002 VF Script Buy 259 Limit 19.28
BRCM 4/11/2002 VF Script Buy 180 Limit 27.73
BVSN 4/11/2002 VF Script Buy 4854 Limit 1.03
CCBL 4/11/2002 VF Script Buy 530 Limit 9.43
CCUR 4/11/2002 VF Script Buy 724 Limit 6.91
CHBS 4/11/2002 VF Script Buy 144 Limit 34.59
CHKP 4/11/2002 VF Script Buy 289 Limit 17.26
CHRD 4/11/2002 VF Script Buy 946 Limit 5.28
CIEN 4/11/2002 VF Script Buy 776 Limit 6.44
CMGI 4/11/2002 VF Script Buy 4506 Limit 1.11
CMNT 4/11/2002 VF Script Buy 522 Limit 9.57
CMOS 4/11/2002 VF Script Buy 253 Limit 19.76
CMVT 4/11/2002 VF Script Buy 493 Limit 10.13
CNXT 4/11/2002 VF Script Buy 546 Limit 9.14
COGN 4/11/2002 VF Script Buy 247 Limit 20.23
CPST 4/11/2002 VF Script Buy 1743 Limit 2.87
CREE 4/11/2002 VF Script Buy 501 Limit 9.97
CRUS 4/11/2002 VF Script Buy 403 Limit 12.38
CRXA 4/11/2002 VF Script Buy 1158 Limit 4.32
CTIC 4/11/2002 VF Script Buy 288 Limit 17.32
CVAS 4/11/2002 VF Script Buy 1080 Limit 4.63
DCLK 4/11/2002 VF Script Buy 567 Limit 8.82
DIGL 4/11/2002 VF Script Buy 1109 Limit 4.51
EFII 4/11/2002 VF Script Buy 338 Limit 14.75
EFTD 4/11/2002 VF Script Buy 1151 Limit 4.34
ELNT 4/11/2002 VF Script Buy 129 Limit 38.57
EMBT 4/11/2002 VF Script Buy 509 Limit 9.81
ESIO 4/11/2002 VF Script Buy 186 Limit 26.85
ESST 4/11/2002 VF Script Buy 327 Limit 15.26
EXAR 4/11/2002 VF Script Buy 325 Limit 15.37
EXFO 4/11/2002 VF Script Buy 1164 Limit 4.29
FALC 4/11/2002 VF Script Buy 862 Limit 5.80
FEIC 4/11/2002 VF Script Buy 196 Limit 25.46
FLEX 4/11/2002 VF Script Buy 381 Limit 13.10
FMKT 4/11/2002 VF Script Buy 303 Limit 16.45
GLBL 4/11/2002 VF Script Buy 629 Limit 7.94
GMST 4/11/2002 VF Script Buy 602 Limit 8.30
GNSS 4/11/2002 VF Script Buy 282 Limit 17.72
GSPN 4/11/2002 VF Script Buy 502 Limit 9.96
GSPT 4/11/2002 VF Script Buy 378 Limit 13.19
HAND 4/11/2002 VF Script Buy 1718 Limit 2.91
HMSY 4/11/2002 VF Script Buy 1189 Limit 4.20
HPLA 4/11/2002 VF Script Buy 441 Limit 11.33
IDTI 4/11/2002 VF Script Buy 193 Limit 25.89
IMNX 4/11/2002 VF Script Buy 198 Limit 25.16
INDG 4/10/2002 VF Script Buy 937 Limit 5.34
INFA 4/11/2002 VF Script Buy 862 Limit 5.80
INGR 4/11/2002 VF Script Buy 350 Limit 14.25
INHL 4/11/2002 VF Script Buy 698 Limit 7.16
INRG 4/11/2002 VF Script Buy 939 Limit 5.32
INSP 4/11/2002 VF Script Buy 4136 Limit 1.21
INVN 4/11/2002 VF Script Buy 194 Limit 25.71
IONA 4/11/2002 VF Script Buy 448 Limit 11.14
ISIS 4/11/2002 VF Script Buy 388 Limit 12.89
ISSX 4/11/2002 VF Script Buy 301 Limit 16.57
ITWO 4/11/2002 VF Script Buy 1428 Limit 3.50
IWOV 4/11/2002 VF Script Buy 1263 Limit 3.96
JNIC 4/11/2002 VF Script Buy 968 Limit 5.16
JNPR 4/11/2002 VF Script Buy 559 Limit 8.93
KLAC 4/11/2002 VF Script Buy 86 Limit 57.72
KNGT 4/11/2002 VF Script Buy 295 Limit 16.90
KOPN 4/11/2002 VF Script Buy 757 Limit 6.60
LENS 4/11/2002 VF Script Buy 650 Limit 7.69
LRCX 4/11/2002 VF Script Buy 216 Limit 23.09
MANU 4/11/2002 VF Script Buy 334 Limit 14.94
MCAF 4/11/2002 VF Script Buy 338 Limit 14.75
MCRL 4/11/2002 VF Script Buy 272 Limit 18.34
MERQ 4/11/2002 VF Script Buy 198 Limit 25.20
MONE 4/11/2002 VF Script Buy 702 Limit 7.12
MRCY 4/11/2002 VF Script Buy 208 Limit 24.02
MRVL 4/11/2002 VF Script Buy 153 Limit 32.60
MSCC 4/11/2002 VF Script Buy 399 Limit 12.51
MSTR 4/11/2002 VF Script Buy 2331 Limit 2.14
MTON 4/11/2002 VF Script Buy 277 Limit 18.02
MUSE 4/11/2002 VF Script Buy 742 Limit 6.73
MVSN 4/11/2002 VF Script Buy 264 Limit 18.88
MXIM 4/11/2002 VF Script Buy 108 Limit 46.16
NETE 4/11/2002 VF Script Buy 538 Limit 9.29
NEWP 4/11/2002 VF Script Buy 261 Limit 19.11
NTIQ 4/11/2002 VF Script Buy 306 Limit 16.29
NVDA 4/11/2002 VF Script Buy 159 Limit 31.31
NVLS 4/11/2002 VF Script Buy 116 Limit 42.79
NYFX 4/11/2002 VF Script Buy 500 Limit 9.99
ONIS 4/11/2002 VF Script Buy 1070 Limit 4.67
OPWV 4/11/2002 VF Script Buy 1075 Limit 4.65
OTGS 4/11/2002 VF Script Buy 786 Limit 6.35
PALM 4/11/2002 VF Script Buy 1671 Limit 2.99
PCLN 4/11/2002 VF Script Buy 1460 Limit 3.42
PCSA 4/11/2002 VF Script Buy 460 Limit 10.86
PCYC 4/11/2002 VF Script Buy 847 Limit 5.90
PLCM 4/11/2002 VF Script Buy 271 Limit 18.39
PLXS 4/11/2002 VF Script Buy 266 Limit 18.79
PMCS 4/11/2002 VF Script Buy 389 Limit 12.84
PRSF 4/11/2002 VF Script Buy 3074 Limit 1.63
PTEN 4/11/2002 VF Script Buy 202 Limit 24.64
PWER 4/11/2002 VF Script Buy 814 Limit 6.14
QLGC 4/11/2002 VF Script Buy 127 Limit 39.26
QMDC 4/11/2002 VF Script Buy 741 Limit 6.74
RATL 4/11/2002 VF Script Buy 446 Limit 11.21
RFMD 4/11/2002 VF Script Buy 324 Limit 15.40
RIMM 4/11/2002 VF Script Buy 294 Limit 16.95
RNDC 4/11/2002 VF Script Buy 2447 Limit 2.04
RSTN 4/11/2002 VF Script Buy 1347 Limit 3.71
RSTO 4/11/2002 VF Script Buy 575 Limit 8.69
RTEC 4/11/2002 VF Script Buy 164 Limit 30.41
RVDP 4/11/2002 VF Script Buy 288 Limit 17.31
SABA 4/11/2002 VF Script Buy 2061 Limit 2.43
SIMG 4/11/2002 VF Script Buy 722 Limit 6.92
SMTC 4/11/2002 VF Script Buy 170 Limit 29.35
SMTF 4/11/2002 VF Script Buy 923 Limit 5.41
SNDK 4/11/2002 VF Script Buy 286 Limit 17.45
SPWX 4/11/2002 VF Script Buy 984 Limit 5.08
STEL 4/11/2002 VF Script Buy 831 Limit 6.01
STOR 4/11/2002 VF Script Buy 2262 Limit 2.21
STXN 4/11/2002 VF Script Buy 1269 Limit 3.94
TARO 4/11/2002 VF Script Buy 225 Limit 22.22
TERN 4/11/2002 VF Script Buy 949 Limit 5.27
TIBX 4/11/2002 VF Script Buy 614 Limit 8.14
TIER 4/11/2002 VF Script Buy 411 Limit 12.14
TMPW 4/11/2002 VF Script Buy 197 Limit 25.32
TMTA 4/11/2002 VF Script Buy 2282 Limit 2.19
TQNT 4/11/2002 VF Script Buy 543 Limit 9.21
TTIL 4/11/2002 VF Script Buy 257 Limit 19.39
TUNE 4/11/2002 VF Script Buy 452 Limit 11.06
USON 4/11/2002 VF Script Buy 619 Limit 8.07
VERT 4/11/2002 VF Script Buy 9938 Limit 0.50
VIDA 4/11/2002 VF Script Buy 729 Limit 6.85
VISG 4/11/2002 VF Script Buy 1157 Limit 4.32
VLNC 4/11/2002 VF Script Buy 1935 Limit 2.58
VRSN 4/11/2002 VF Script Buy 251 Limit 19.91
VSEA 4/11/2002 VF Script Buy 127 Limit 39.22
VTSS 4/11/2002 VF Script Buy 749 Limit 6.67
WEBX 4/11/2002 VF Script Buy 479 Limit 10.43
WONE 4/11/2002 VF Script Buy 1387 Limit 3.60
WWCA 4/11/2002 VF Script Buy 675 Limit 7.40
XMSR 4/11/2002 VF Script Buy 484 Limit 10.31
XXIA 4/11/2002 VF Script Buy 871 Limit 5.74
YHOO 4/11/2002 VF Script Buy 346 Limit 14.42
ZIXI 4/11/2002 VF Script Buy 1128 Limit 4.43
ZRAN 4/11/2002 VF Script Buy 153 Limit 32.48
</pre>

 

[Awarer]

You choose to place so many orders. If the market crashes, the balance of your account, including margin, will be used to buy the falling stocks. So you may lose all the money. Can you control the the maximum number of orders for transactions or the maximum amount of money used in purchasing stocks?

 

[klin]

Good question. It's possible theoretically but very unlikely in real world. Market crash usually takes place during overnights. It will take at least 10% down of the Nasdaq composite index DURING THE DAY to fill all my orders which are at least 10% off the close price of the previous day. Does 10%-intra-day-crash happen often? Is it really a disaster? There're only 3 10%-crashes since 1997/1/2 and all of them turned out to be opportunities.

Date: 8/31/1998
Daily range pct=0.10
High=1655.56
Low=1498.25
3-day high after crash: 1627.09

Date: 4/4/2000
Daily range pct=0.17
High=4283.45
Low=3649.11
3-day high after crash: 4446.45

Date: 4/14/2000
Daily range pct=0.11
High=3615.64
Low=3265.98
3-day high after crash 3851.56

---
Biggest Crash = 634.34
Biggest daily range pct=0.17

Based on the historical data for the last 5 years, the probabilility of a 10% intraday market crash is less than 0.3%, and all of them bounced back within 3 days.

There's risk nevertheless, such as the third world war or Amercia suffer a nuclear attack. We can still buy QQQ put option to protect the whole portfolio. But who can survive such a crash then? The biggest risk in our lives is not taking any risk. This reminds me a quote from a mentor of mine who changed my career and life:

"In Chinese, crisis is made up of two words: Danger and Opportunity".

 

[open]

什么是QQQ put option?

 

[klin]

QQQ is the ticker for a Unit Investment Trust that seeks to mimic the performance of the Nasdaq 100. Look up the ETF sections on www.morningstar.com www.indexfunds.com or www.nasdaq.com for more info including expenses and performance.

Put option is a financial instrument to give optioin buyer a right, not obligation to sell something at a specified price on or before specified date.

For example, QQQ closed at 35.18 today. If I bought one QQQ May 33 put option at $0.65, then I have right to sell 100 shares QQQ at $33 on or before May 17,2002 no matter what the market price is. The total loss will be toped at 0.65*100=$65. I will then protect my nasdaq holdings in case market crashs.

Go to finance.yahoo.com for more educational stuff of option.