Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: The Ox who wrote (50554)	9/7/1999 8:50:00 PM
From: upanddown	Read Replies (1) of 95453

Michael Your point to Sarge about the spread percentage on penny-ante stocks was very well understood by me at least. Surprised you didn't jump on him for claiming a 1/16 profit when it appears he only made a 1/32.<vbg> Your point had nothing to do with the action in the stock today. He caught a nice day and it was a successful trade, but since he bought at the ask and sold at the bid with both transactions done with a 1/16 spread, it basically cost him 22% of his capital for the round turn plus commissions. I think the MM did better than Sarge but hey, share the wealth.<ggg> I get the impression that people don't spend a lot of time thinking about spreads on the teeny-weenys. They should because they can be a lot more costly than the commissions but hell, what does it matter...they're all doubling by month-end and MM's have families to feed too.<vbg> John

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