A retractable stock guide has a stationary guide rail on which a retractable guide cap is operably supported. The guide rail and cap have two through holes at opposite ends through which two mounting studs extend to attach the stock guide to an associated die member. The holes in the guide cap are ovate, and the heads of the mounting studs are tapered, whereby tightening of the mounting stud shifts the guide cap relative to the guide rail from an aligned, retracted load/unload condition, to an inwardly protruding, extended run condition, wherein the stock strip is slidingly captured between two like stock guides and the mounting surface of the die. Two ball bearing guides can be substituted for the stationary guide rail.