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Non-Tech : MB TRADING

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To: Char who wrote (2367)11/27/1998 5:54:00 PM
From: funk  Read Replies (4) of 7382
 
Hi Char, Fancy meeting you here!

Difficult to say about getting a pre-market fill.

Maybe some other traders can help us out.

From your post I think you know as much as I do.

It was a thinly traded stock and wasn't showing any ISLD on the ask.

A thinly traded stock can be difficult during market hours, pre and post market might be asking a bit too much.

Arca was not too shabby of a choice, as it defaults to Selectnet anyway and you get the added benefit of displaying your bid which could have brought out another trader to cross you.

If you really want a fill, and there only a very few trades, the best thing to do is call the trading desk and let them use INCA for you.

Pre-market there are NO guarantees.

The MM's are not obliged to fill you if you cross them.

Also, be sure to fire up a time and sales window for pre-market trades. The ticker attached to the level II does not display pre or post market volume.

Often the pre-market trades are going off outside of the inside market. In other words, the level II best bid may be in line with the actual trades occurring, while the displayed offer is way below.

So if you tried to cross the ask, you may have been bidding 1/4 below where the seller was trading.

The time and sales window clears that up pretty well.

Pre-market is a little tough. I only trade pre-market when I am on a good roll. Hopefully some other traders will chime in. Let me know if I made things worse; I can continue. lol

( c :

funk

ps

I always try to avoid thinly traded names.
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