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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Mama Bear who wrote (5972)12/11/1999 5:51:00 PM
From: fftrader  Read Replies (1) of 18137
 
Mama Bear,I believe your example is a bit incorrect.

<You want to short WXYZ, and the inside has just dropped from 10 1/8 x3/16 to 10 1/16x3/16. You can't sell short at 10 1/16, because its a downtick. However, you may enter a limit order of 10 1/8, which will change the inside to 10 1/16 x 1/8.>

As you are trying to sell(short) the stock this is represented on the bid side not on the ask therefore the inside would change to 10 1/8x3/16 not 10 1/16 x 1/8. As your new offer to sell at 10 1/8 is higher than other offers to sell at 10 1/16, this (10 1/8) becomes the new inside bid.

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