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 (23618)	10/29/1997 1:06:00 AM
From: Larry Brubaker	Read Replies (2) of 35569

aha! so then.. we could play the MM role and push the price UP like they push it DOWN..interesting..now we just need to find a gopher to do it for us..anybody game? <g> Anne: Don't think it works quite that way. If you place a limit buy order above the current ask, and your broker is any good, you should still get the best price available. I sometimes place limit buy orders above the current ask, particularly if the ask is in a 1/32 increment (E*Trade will not allow you to enter limit orders in 1/32nds, unless the price is below, I believe, 50 cents). I still usually get filled at the ask, and on rare occasions, below the ask. The main reason I place a limit order above the ask is to preclude the market makers from moving the ask higher (remember the KEYZ story) before filling my market order.

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