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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: TFF who wrote (3691)	4/10/1998 6:51:00 PM
From: Don Green	Read Replies (1) of 12617

Long time no post here... But this is something I posted on my Lessons Learned site (investor/Subject-18707) that some might find interesting... On Thurs I placed a market order to sell 1000 LU at 70, 55 mins before the close. Then just prior to the close I was closely watching the trades and just prior to the close maybe 10-200K worth of stock traded at 70. I looked at my trade status and misread the status. I thought it was sold.. Well today I looked at my account and found I still own Lucent. I called my broker and found out some interesting news. Even though I entered my 70 limit order 55 mins prior to the close when the stock was at around 69.5 I didn't get taken out.??? They told me that what probably happened was the ton of trades I saw at 70 were all market orders, and until they are all finished limit order are not handled. So even though I was maybe early into the trading cue, not enough market orders executed to get to the market order??? This is something I didn't know, but will not forget. Now I need to determine a Monday morning strategy for this stock... Don

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