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Strategies & Market Trends : From the Trading Desk
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To: steve goldman who wrote (2145)12/23/1997 1:06:00 PM
From: trouthead  Read Replies (1) of 4969
 
Steve,

Thanks in advance for helping with this. I am trying to understand how orders get filled. I use DLJ direct to trade via the internet. I curently have an order in for 250 shares of wtlk at 3 7/8. The bid is 3 7/8 and the ask is 4, The last trade is at 3 7/8. My order has not been filled. Could you explain the difference between the ask and the "last traded" at terms. I think I understand that my order won't get filled until the ask goes to 3 7/8, but am confused that if the last trade was at 3 7/8 why has the ask not moved to that?

Thanks again and have a great Holiday.

bps
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