Stops are now checked on the closing price

What changed for people using Bellwether

• Stops are checked at the close. A dip under your stop that recovers by the close no longer sells. A day that closes at or under the stop is sold at the next open.
• A disaster stop rests at your broker. It sits four typical daily moves under your entry and stays there all day, also while Bellwether is offline. It follows your stop up when the stop is raised and it never moves down.
• What a gap day means. A stock that opens under your stop but above the disaster stop is judged at that day's close and, if it closes under the stop, is sold at the next open. A gap below the disaster stop is sold at once, at the market's price and not the stop's.
• Switch back in one step. On the Halts tab of Risk, Protective stops has one button that puts every stop back to resting all day at its old level. Your open positions follow within seconds and the stop at your broker moves back up.
• Every paper book is told once. You get one Inbox notice and one change card that names the way back. Real-money books keep stops that rest all day.

What you may notice

• Holdings shows a stop as checked at the close and names the disaster stop under it. The symbol page and the Orders tab show the same stop figure for the same position.
• During the day a position can lose about 1.6 times its planned risk before the disaster stop sells. A close under the stop is sold at the next open, which can be below the stop.
• A stop you raise today is judged from today's close on, never on yesterday's close.
• A position whose stop had already been raised keeps the same distance between its stop and its disaster stop.
• If yesterday's closing price arrives late, Bellwether retries every minute, warns you, and raises a critical alert after fifteen minutes.
• Trailing stops rest all day as before.

Switched on

• Closing-price stops are on for every paper book from this release. Real-money books stay on stops that rest all day.

Known gaps and what’s next

• The disaster stop at your broker carries a price limit 2% under it. If a stock opens more than 2% below it while Bellwether is offline, it may not sell until Bellwether is back.
• The Portfolio Manager's standing instructions still describe stops that rest all day. The figures it reads each session state the new rule, and the wording follows in a later release.
• Over many years closing-price stops earned more, yet 2026 so far is a losing year for the change. A weekly score of the old rule beside the new one is planned.
• Lab backtests still model stops that rest all day, so their results can differ from what a paper book now does.