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Strategies & Market Trends : From the Trading Desk

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To: steve goldman who wrote (3335)	6/30/1998 7:04:00 PM
From: Ramsey Su	Read Replies (1) of 4969

Steve, lets see if I understand this correctly. Assume stock xxxx is last traded at 30 1/4 with bid of 30 and ask of 30 1/4. I put in a limit short order of 30. It will not be filled anyway because of the upbid rule. A few minutes later, stock went down to 30, my order becomes market but still will not fill because of same rule. Now it jumps to 30 1/8, I get filled at 30 1/8. Is this right? When there are, say, buyers for 10K shares at 30 1/8 at the moment and sellers for 15K shares, who decides which 10K shares will cross and which 5K shares will not be sold? Ramsey

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