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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Connor26 who wrote (53198)7/27/1999 5:09:00 PM
From: Scrumpy  Read Replies (1) of 120523
 
<EDIT> If I entered a limit BUY for 40 shares @ $80 I would probably get filled and the other two bidders wouldn't. What does that mean? Well, I think it means a "market was made" and I'm now a happy owner of 40 shares at $80.

But, what that also means is that someone (me) is willing to pay more than the closing price. To any seller, this becomes an attractive market esp. if I'm a "big" buyer. If I were buying 5000 shares and you were selling 5000 shares wouldn't you rather use ISLD to SELL CREE than, say on NASDAQ at 72? Those who can unload their shares (afterhours) for much more on ISLD will prefer to trade there instead. This explains the spread.

Also, I can buy CREE now at $80. By tomorrow, some of the heavyweights may enter with bigger sell (or buy) numbers causing the opening price to be even higher than my $80 purchase price. Of course, if that happens, I can sell at tomorrows open at a profit.

EDIT: in the case of CREE, I can bid at anything between 72 and 80 with a greater possibility of getting filled than the best bidder. A seller may adjust their order to come down and sell at 76, for example, which may end up being profitable to him or her.

I'll get back to you once I find out more.
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