International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Anne Lamb who wrote (22076)	10/10/1997 12:44:00 PM
From: Bob Markley	of 35569

Anne, Stop orders are allowed on Nasdaq, ... as per Ameritrade, at least that is the info that I have obtained. Perhaps you might want to call back your three brokers, ... Stop orders are common in every market. The stop buy must be placed below the current bid (and the stop sell above the current ask), ... this becomes a market order when the first board lot trades at the bid (either at or through the stop buy order)in the case of the stop buy or at the ask, once again either at or through the stop sell order. The 'public' loves to place these orders all at the same obvious chart levels, ... the MM's can see these bunches and 'gun' for them. Point in passing, ... 'gunning' for stops is the bread & butter of the MM's, ...imo. Professional traders/funds don't use stop orders, ... imo. Best, Bob P.S. Kim,...think about the concept of 'running' the stops for awhile, ... For some reason it doesn't want to sink in!<g>

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