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Microcap & Penny Stocks : Active OTC stocks

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To: Postman who wrote ()	6/23/1998 9:17:00 PM
From: Abner Hosmer	Read Replies (1) of 1058

Brian, I hope I will be excused if I interrupt the thread with a basic question. I bought a bulletin board stock for the first time yesterday, it's been trading between .75 and 1.00. I placed a limit order with my broker's secretary at .92 and after visiting the trading desk, she called back to say that the stock trades in 32nd's and was currently 29/32 (.90625) by 15/16 (.9375), what did I want to do? The problem is that I have seen the stock trade at .92 and at other prices that are in between the spread, even if one takes rounding up or down into account. Can anyone tell me how trading is governed at this level on the nasd? I haven't yet been able to get a sensible answer from my broker. I joined the bid at 29/32 and got filled later in the afternoon. thanks - Tom

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