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Technology Stocks : Aware, Inc. - Hot or cold IPO?
AWRE 1.910+0.5%11:56 AM EST

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To: Scrapps who wrote (8539)4/18/2000 12:08:00 PM
From: jghutchison  Read Replies (1) of 9236
 
Ah Scapps, I beg to differ. I use limit orders about half the time. It depends on the trade.

You won't get a fill in a fast moving market with a limit order. There is a pecking order in order types. Although limit orders become market orders "at the market", market orders always go to the head of the que, limit orders to the back. If the stock offer upticks while you are in the que, you missed the boat.

As a former day trader who has placed thousands of trades, I speak from experience.

Options are a different animal. In my case the market on awre stock was stalled at 28 5/8. If I were to buy the stock, I would have placed a limit order at the offer. So, one would expect to be filled at the offer on the option trade, or possibly one tick higher. I paid a full 7/16 over market. My trade was not filled until the stock ticked up a 1/2 point.

Fact is, options floor traders are notorious crooks. And here is some proof.

Jack
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