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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: Saul Seinberg who wrote (9954)	1/12/2000 7:08:00 AM
From: OldAIMGuy	Read Replies (1) of 18928

Hi Saul, Here's an interesting tidbit. About two or three years ago American Century Funds started allowing Good for 90 Day Limit Orders on their funds. This was a real boon to me. The way it worked was I could place both a buy and sell order good for 90 days at the prices that AIM was telling me. Then the day when the NAV advanced beyond my limit orders, they would fill at that day's close. For instance, I put in a Sell order at $25.25 for 20 shares. Three weeks later the fund closes at $25.27. I would get "filled" at $25.27 at the close of that day. When buying it would have to have a closing NAV at or below my limit and then it would fill. This was great but, alas not enough people took advantage of this new feature to justify the expense of keeping track of the open orders. So, in the last quarter of 1999 they cancelled the program. I had been hopeful that this pioneering move might be picked up by other mutual funds and become commonplace. Looks like that dream isn't to be realized at this time. I was surprised that so few people took advantage of the feature. Best regards, Tom

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