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Five points advance meant five hundred dollars' profit on our investment, and my friend on the exchange laughed and congratulated me and said it was only the beginning. So we put up the stop-loss, almost as far as it would go, and began to look about for a place that was quite suitable for people with refined taste, some very good things in the way of rugs and furniture, and a Stock.
Even a little more, for the stop-loss that had failed to hold against the first sudden and overwhelming pressure, had caught somewhere about twenty, and our brokers next morning advised us of the sale. It was a quiet breakfast that we had. We were rather mixed as to our feelings, but I know now that a sense of relief was what we felt most.
One day it advanced five full points. We only counted full points. Fractional advances we threw into the next day's good measure, and set the stop-loss higher, and yet ever higher. We acquired credit with ourselves. We began to think that perhaps after all we hadn't taken quite so good an apartment as we deserved.
He adjusted the stop-loss for us so that there was no danger of the Stock being sold on a temporary decline, and we sat down to wait and watch the papers while the Stock gathered strength for a new upward rush that was sure to come, and would place us in a position to gratify a good many of the ambitions lately formed. A feverish and nerve-destroying ten days followed.
Then too we had a "stop-loss" on the Stock so that we were safe, whatever happened. The Little Woman didn't understand the "stop-loss" at first, and when I explained to her that it worked automatically, as it were, she became even more mystified. I gathered from her remarks that she thought it meant something like an automatic water shut-off such as we had in the bath-room to prevent waste.
"And we'll lose everything! People always do in panics, don't they?" I nodded gloomily. "A good many do. That is, unless " "But the stop-loss!" she remembered joyfully, "we've got a stop-loss!" "That's so!" I assented, "the stop-loss! Our stock is already sold that is if the stop-loss worked." "But you know you said it worked automatically." "So it does automatically, if if it holds!
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