European Stars And Stripes (Newspaper) - August 7, 1988, Darmstadt, Hesse                                Page 20 the stars and stripes sunday August 7,1988 investor s guide by Bill Doyle q. At a recent seminar a famous investor who writes books and newsletters said he was out of the Stock Market the week before the oct. 19 crash. He explained his stocks were protected by Stooss orders which automatically trigger the Sale of Stock when the once drops to a certain level thereby preventing any losses. Naturally i would like to have the same arrangements for my in vestments in the future. Do you have any comments on the Stop loss procedure a. Yeah forgive me for being colloquial but there Ain t no such animal. In trading on Stock exchanges there Are Stop orders and Stop limit orders neither of which is a guarantee against loss. Stop loss orders simply Doyle do not exist. Calling a Stop order or a Stop limit order a Stop loss order is like calling a ladder with out rungs a safety device. Well take this in two Steps. A Stop order is an order to buy Stock at a Price above or sell Stock at a Price below that Stock s current Market Price. When the Stock Sells at or through the specified Price the Stop order becomes a Market order and automatically is executed at the Best Price then available. That Price might be at below or above the Stop order Price. Let s say you bought 100 shares of Xyz Stock at $60 a share and Xyz is trading at $61. You get worried about the Market in Gener Al and your Stock in particular. So you place a Stop order to sell 100 Xyz at 60. Xyz does hit 60. Your shares Are sold. You might get 60. In theory you might get More. In practice you la probably get less because prices Are falling. A Stop limit order on the other hand is a Stop order that becomes a limit order to buy or sell Only at a specified Price when that Price is reached. Same scenario you place a Stop limit order to sell at 60. Xyz trades at 60. Your order will be executed at 60 Only if there Are enough buyers at that Price. There might not be and your shares might not be sold. Q. I tried to put Stop orders on eight different stocks. My broker accepted five of those orders for Exchange listed stocks. But he said i could not place Stop orders on the other three stocks because they Are in the Nash a National Market system. Why the prohibition a. Because their is no formal procedure in the National association of securities dealers Auto mated quotation system or any other part of the Oyer the counter Market for execution of Stop or Ders and Stop limit  orders and Stop limit or Ders can be executed on the Newyork Stock Exchange the Ameri can Stock Exchange and regional exchanges around the country be cause of the specialist  the trading floor of each Exchange an Exchange member know Nas a specialist is assigned to make the Market in Exchange listed  specialist keeps a record in his Book of All Stop orders and Stop limit orders in the stocks assigned to him and executes those orders. King features Syndicate business news Dow Down slightly for week new York up Stock prices slipped last week As inflation worries sapped the momentum of a Strong Advance that had capped the previous week. The Dow Jones Industrial average which fell 7.47 Friday to close the week at 2119.13, gave up 9.60 Points or 0.5 per cent for the week. Broad Market indicators also posted losses on the week. The new York Stock Exchange composite Index dropped 0.26 to 153.09. Standard and poor s 500-Stock Index lost 0.87 to 271.15. Declines led advances 935-899 among the 2,158 issues traded. Big Board volume totalled 778,993,460 shares compared with 819,914,441 the previous week and 971,829,650 a year ago. Stock prices edged higher monday extending the surprisingly Strong rally that began in the last two Days of the previous week. The Dow Industrial average Rose 1.78 Points. On tuesday the Advance faltered with prices closing Little changed As the Market failed for the second straight session to con Vince investors that the surge was sustainable and the Dow eked out a narrow 0.71 Point gain. A modest gain wednesday managed to extend the Market s rally to its fifth straight Day with the Dow adding 2.85 Points. It american Exchange new York up the 10 most Active stocks in american Stock Exchange composite trading thursday. Stock sales last  Petroleum 2,380,600 17-64 unch Wang labs b 589.200 9%  585.100 18% off % Ensco 261,400 2% up Rabat industries 250,300 7vt off 3-16 charter med a 218,300 34 up Texas Canada 217,900 30% of tvs Telesphere into 177,900 4% unc Echo Bay mines 177,500 19% off a Lori Martel 160.600 13% upv4 was the longest winning Streak since a five Day run up in april. Lack of momentum caught up with investors thursday bringing the Advance to an end As the Dow slipped 7.47 Points after erasing an Early session Lead of More than 8 Points. Prices slipped an additional 7.47 Points in very quiet Friday trading As Strong employment figures reignited fears about inflation and higher interest rates. It was the second slowest trading ses Sion of the year and the lowest daily vol ume since May 23. Before the Market opened Friday the labor department reported that unemployment Rose to 5.4 percent in july from 5.3 percent in june. But it also reported a Rise of 283,000 non farm jobs which was slightly higher than expected. This combined with re Vised figures for june showing an in crease in non farm payrolls of 532,000 instead of the 346,000 Rise originally re ported renewed concerns about the Pace of America s economic growth. Under the circumstances with Infra new York Exchange new York up the 15 most Active stocks in new Yor Stock Exchange composite trading thursday. Stoc Consol Edison genl motors Tyler corp get Corpin Silco corp Amer elec pm Quaker Oats fort Howard Amer express Baxter int Exxon corp ism corp Ford motor Smith Kline Buban America sex dividend sales9,586,200 7,946,1003,541,900 2,858,5002,646,100 x-2,251,3002,020.100 1,749,3001,493,000 1,190,3001,147.600 x-1,113.8001,061,100 1,059,900 1,029,200 last 44% 79 v4 18 41% 29 i 27 Viz 52 Viz 53 i 29% 21% 47 i 124 14 54 a 48 14 i net  of Fez up up to up 2 off off i up a off up off a off up up1 up vation worries re surging and people afraid that the fed is going to have to raise interest rates Given All that the mar Ket did t do too badly said Chester Pado director of technical research at Jefferies and co. In los Angeles. Pado said the Market s performance was consistent with the Strong gains of the previous week As investors moved to consolidate the Advance. While he said Market participants at Tention was focused mostly on the possibility of renewed inflation during the week Pado downplayed the importance of the unemployment data. Friday s Lack of volume which indicated Many traders started their weekends Early suggested a Lack of tension he added. American electric Power was the most Active Issue on the nose trading floor Down l /4 to 27%. Central South West followed ending unchanged at 31%, and general motors was third off % to 78 is. At to slipped % to 26 /2, ism fell 1 % to 1237/8, Gillette dropped 47/s to 35 /4 and Boeing Rose 1 % to 62 /4. Insalco soared 9 /8 to 29 plan tropics gained 6% to 265/s american express Rose % to 287/s Exxon Sank a to 46%, Ford was up 3/4 to 53% and Merck added 7/s to56%. On the american Stock Exchange the amex Market value Index dropped 1.23 to close at 304.27, while the National association of securities dealers Index Rose 0.38 to 387.71. Hurricane loses strength Honolulu a Hurricane Fabio kicked up some High Waves before it was downgraded to tropical storm stat us and veered away from the hawaiian islands the National weather service said Friday. The weather service can celeb a tropical storm watch for the is land of Hawaii on thursday and can celeb a High surf advisory Friday. Hiroshima Marks bomb anniversary Hiroshima Japan up a flight of doves a Mournful tolling of Bells and a silent prayer marked the 43rd anniversary saturday of the world s first atomic bombing. An estimated 55,000 people fell silent under a blazing Sun in Hiroshima s peace memorial Park at 8 15 a.m., the moment when on aug. 6, 1945, a . B-29 warplane dropped an atomic bomb on the port City. Some 140,000 people died within four months of the bombing according to City officials. The total number of identified Vic Tims including those who died from the aftereffects of radiation is 152,650 peo ple. The City says an estimated 150,000 people never identified also died in the blast and ensuing fires that swept Hiro Shima 400 Miles Southwest of Tokyo. The annual Day of remembrance ended when hundreds of paper lanterns were lit and set afloat on four of the City s Rivers once clogged with bomb Vic Tims seeking Relief from burning skin. The names of 4,473 bomb casualties who died in the last year were added to the names enshrined in a Granite Cenotaph in the Park that reads rest in peace let us not repeat this  some 360,000 survivors of the bomb Are still alive. Throughout the City of 1 million cars and buses stopped As people bowed their Heads and observed the moment of silence. Later 1,300 doves were released into the Clear skies As a Symbol of peace. What happened Here is a last Chance a nuclear catastrophe from which we still have time to learn Ann Southwick a University of Hawaii student told an audience of 1,000 people at a youth symposium after the ceremony. Three Days after the Hiroshima bomb ing the Scenic coastal City of Nagasaki suffered the same Fate. The War in the Pacific ended aug. 15, 1945, with Japan s surrender. Disgruntled worker blew whistle on Hertz new York not a former Hertz employee who was angry Over her dismissal set in motion the investigation that ended with the company pleading guilty to defrauding motorists and insurers on collision repairs. Regardless of what her motive might have been for blowing the whistle on Hertz we owe a great debt of gratitude Toher said Federal prosecutor Andrew j. Maloney in Brooklyn. Maloney s office working with the postal inspection serv ice and insurance crime prevention Institute developed the Case. Under the plea agreement Hertz will pay More than $20 million in fines and  former employee was described As a claims handler in her Early 30s in bos ton. The authorities have not released her name. They said she had initially requested anonymity but would have testified As a government witness if Nec Essary in Case of a  woman they noted had taken part in some of the illegal practices including signing the names of fictitious appraisers on fraudulent and inflated re pair estimates. Hertz discharged her in 1984, the authorities said for reason that were not related to the fraud. Investigators said the woman was apparently so angry about what she Felt was unfair treatment that she decided to expose the illegal practices which according to prosecutors were widespread. One investigator said the woman had told him that she was also acting out of  woman received no Reward for her information. She got nothing but satisfaction said . Frank the assist ant . Attorney who handled the  inquiry that stemmed from her information will enable the government to collect a $6.85-million Fine believed to be the largest imposed on a Corpora Tion in a criminal consumer fraud  settlement will also enable 110,000 customers and other motorists and insurance companies to seek restitution for overcharges from a $13.7 million fun that Hertz has to set up. Hertz pleaded guilty to overcharging for damages to rental cars from 1978 through mid-1985. Prosecutors said the improprieties began years earlier and probably reflected Industry wide practices. Federal prosecutors brought postal inspectors into the Case because the mails had been used. The agencies worked to Gether under Frank s supervision on the Case. Because of technical problems today s Mutual fund listings Are incomplete