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Biotech / Medical : Medical Industries Of America, MIOA
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To: Jamessmith who wrote (360)10/19/1997 7:57:00 PM
From: lostmymoney   of 570
 
Update on the new SEC Order Handling Rules:

As of October 13, all Nasdaq companies have finally been phased in under
the new SEC Order Handling Rules. This means that for all Nasdaq stocks, it
is now easier to trade between the bid and ask. For example, if a Nasdaq
stock is bid at $1.50 and offered at $1.75, and you want to buy the stock,
you can place an order to buy at $1.625, and the new bid will become
$1.625. (Orders for less than 100 shares and "all or none" orders are
exempt from this rule.) Someone can then sell the stock to you at $1.625.
Previously, the bid would have stayed at $1.50 and other investors would
not know that you were willing to pay $1.625. Even if someone sold stock at
$1.50, your order to buy at $1.625 might or might not fill.

The new rules should help investors to buy and sell micro-cap and small-cap
stocks at better prices than in the past.

Mike
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