You're talking to your cousin on the phone and he says he's making cookies for the upoming family reunion. You tell him, "Make sure you put in enough chocolate chips."
Sell Plus is like the financial equivalent of that instruction. The process involves leaving instructions with your broker to sell a specified amount of stock above the current market price. You don't leave a particular price target; you don't say "Okay, the stock's at $10 now, so sell when it gets to $10.75." Instead, you leave the precise details up to your broker.
However, you tell them to at least get a price above where it's trading now. If it immediately slips below the current level and stays there, you'll hold onto the stock. You'll wait until it rebounds and gets above the market price.
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Finance: What are Limit Order, Sell Limi...7 Views
Finance a la shmoop what is a limit order? you want to sell a thousand shares
of Colonel electric it was demoted after they cut their dividend the shares have [Scissors cuts dividend in half]
been trading wildly between $15 and $25 a share you don't want to feel like a
moron for having sold them at fifteen bucks when six weeks later they kissed
25 with tongue so what do you do well you put in a limit order that is you put
a limit of a minimum price of 25 bucks a share for Colonel Electric such that [Pile of stocks appear]
those shares will simply sit in your account unsold maybe forever until
somebody out in the wild blue yonder of Stockland is willing to pay twenty five [Woman standing at a colonel electric stand]
dollars or more for the shares where you have a minimum price limit of 25 bucks a
share in your order so here's to hoping they sell and don't get further demoted [Man carries stock into car]
Sargent Electric is just a place you don't want to go
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