HOLLYWOOD STOCK EXCHANGE
THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
Two things
(this is what I do):
Sometime over the weekend, while the opening movies are halted for trading, I go into the advanced broker and set a limit order. The order can be set while the stock is halted, and after the adjust it will automatically go through while you're off doing something fun :-) You set it like this:
If you're long on HPOT12 let's say, and you want to make sure you're out of it as soon as the adjust hits, set a limit order for "sell", "max" shares, and in the price box put 1.00. That's right, I said one dollar. As long as the stock adjusts to a price that is greater than 1 dollar (and it will), the limit order will go through and your shares will be unloaded at the most recent market price (in this case the adjust price).
What if you're short on it though? Easy. Set it for max, cover, and in the price box enter something ridiculously high, like 1000. As long as the stock adjusts to a price under that ridiculous umbrella price of 1000, the order goes through and you exit at the adjust price.
If you're uneasy about limit orders, then instead keep in mind what ndmaster said:
after the adjust on Sunday, the adjusted stocks have their new price frozen for the rest of the day. The stock is un-halted and can be traded, but the price won't change until the next day, meaning you have ALL of Sunday afternoon and Sunday night to exit a stock that adjusted up without worrying about losing profits. If you wait til Monday, though, that there is a problem indeed.
Weekend Adjustment, Profit-taking Aug 19, 20:25
trade after stocks are adjusted, but the price is frozen Aug 19, 21:50
Two things Aug 20, 07:06