I'm often up late watching the overnights, and it seems to me that day and night are often two separate markets; i.e., what happens overnight seems often to be unrelated to what will happen during the day trading. One of the difficulties with trading overnight is that the volume is generally pretty thin, which can make stop entries/exits especially risky. Stops with limits may be the way to go for the Erich-type trades, in those markets (cotton, for example) that allow stops with limits. (Cotton, by the way, requires a limit be entered with a stop.) The downside re a stop with limit is that you can still be gapped. :-|