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Non-Tech : MB TRADING
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To: Michael Turner who wrote (1515)10/21/1998 10:08:00 PM
From: Rick Faurot  Read Replies (2) of 7382
 
I am guessing that what you meant to say was that you would offer at 34 1/16 in order to "step around the herd of traders trying to get out at the bid." If you offer 1/16 above the inside bid on a fast falling stock, you will only get the honor of seeing your offer displayed as the new inside offer as the market drops away beneath you.

If I was in this situation I would try to hit the bid as fast as possible. If there was over 20 bid on ISLD, I'd try ISLD. Otherwise I'd try ARCA. In my experience SelectNet is the slowest route and the most ignored by MMs. If I wanted to offer under the bid, I'd go ISLD for what would probably be an instantaneous full fill.

Rick
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