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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: go4it who wrote (29677)1/8/1998 11:42:00 AM
From: Roger Cordell  Read Replies (2) of 35569
 
Chuck - The bid x ask is still 1 1/2 x 1 5/8, lot size 5 x 10.

Someone just bought 300 shares at 1 5/8 (around 10 or 15 minutes ago). The ask size remains at 10. However, if someone placed a limit order to buy 5,000 shares at 1 5/8 (with no restrictions), he would get 1,000 shares, then the MM would most likely step aside and the ask would go to 1 11/16. It would most likely remain there until the rest of the order was cancelled or they were able to fill it by buying those shares from someone else at any amount up to 1 5/8.

If a MARKET order for 5,000 shares were placed, the buyer would most likely get the first 1,000 shares at 1 5/8 and the rest at a higher amount(s). It would depend on how determined the MM(s) was at keeping the high for the day down......also on their willingness to short the stock further.

Roger
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