Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Chuzzlewit who wrote (15529)	3/19/1998 3:57:00 PM
From: rocklobster	Read Replies (1) of 95453

Paul, OT I sold 1300 FGII this morning for 28 when the bid was 27 5/8 X27 3/4. When FGII popped up this morning and then started drifting below 28, I decided to put a limit order in to sell if it ever went back up to 28. My order hit immediately at 28 and the next quote read 27 5/8 X 28 1/8. The bid price never moved in my direction but I got the 28 I wanted. I wouldn't have believed it myself if it hadn't happened to me but it sure made me a believer in limit orders. I have also sold shares at the high of the day using limit sell orders. Probably only happens during times of high demand though because I have also watched limit orders sit there and never trigger. Richard

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