Bid /Ask Spreads - Market Manipulation Message Board

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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: Jeff Dryer who wrote ()	9/15/1996 11:46:00 PM
From: Jeff Klein	of 308

Jeff, I absolutely hate buying stocks on the Nasdaq for that simple reason Case in Point: I bought CSCO on the day just before the last earning went out. And I could kick myself for not putting a "buy" price in when I did. I instructed my broker to buy at the market. So whouldn't you know that I my measly 100 share order was filled at the high for that day, when at the time it was selling at about 5/8 lower. It's not that much of a difference cause I like the company and the prospects. But this madness on the Nasdaq has got to stop. So I learned my lesson and won't make that mistake again. What really frosted me was something related to this trade that I became aware of a month later. This brokerage makes a market in CSCO and charged $1.00 a share in lieu of the commission. I swallowed that at the time, but when I recently bought another stock(BMCS, which they also make a market in) that was about $20 higher, the fee per share was 75 cents. Can anyone tell me why a $54 stock would carry a $1.00 per share fee While a $73 stock would only carry $0.75 per share? meanwhile .....it's gonna be Schwab or Quick N Reilly for me soon.

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