Web Street Securities (WEBS) Message Board

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Non-Tech : Web Street Securities (WEBS)

WEBS 18.85

+0.5%

Nov 5 4:00 PM EST

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To: B.D.Bauden who wrote (1226)	2/13/2000 8:31:00 PM
From: Lee Walsh	of 1339

"Believe me, they are saving you money by forcing you to place a limit order" No they aren't necessarily. I love to play intraday dumpers....in fact, I am very good at it. Buying at the bottom when a stock quickly drops from say $5 to 2.50 in a matter of 15-30 minutes. I can usually hit the bottom intraday within 1/8th of a point. And usually ride it back up for a buck or more. But it's darn hard to get filled with a limit order in those situations. I've had limit orders at the ask sit for 2-3 hours sometimes and not get filled....the market makers don't have to fill them at all. I'm just saying that a person ought to have the right to buy at the market if he/she chooses. The way things are going, pretty soon, trading and day trading is going to be so restricted that nobody will be able to participate. Maybe that is what they are wanting. I use limit buy orders probably 90% of the time. But I do sometimes use a market order is a special situation. Not all bb/penny stocks are thinly traded...and not all have wide spreads...you have to choose carefully what you trade. My penny account is up about 1500% since December....so I'm not a amateur trader...I've been trading for several years. I used to live in a free country. Maybe they should have a disclaimer form that a person can sign... Lee

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