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Non-Tech : MB TRADING

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To: tom pope who wrote (2832)	12/19/1998 5:52:00 PM
From: JerryPutnam	Read Replies (2) of 7382

I am sorry the trade worked out like it did. Your instincts were right about market orders in NASDAQ. When you enter a market order you are saying just get me out at any price. I never recommended anyone use a market order, I just explained how it works. If the stock you are trading is thin and moving I would not use a market order. I looked at time & sales on USWB and it looks like it trades with a fairly wide spread. If you want I will look up the details on your trade. I promise you we tried every MM at the inside before we lowered the price on your order. You have the right to complain about your fill. You should call the trading desk if something like this happens, again. If you got a bad deal from a MM we will fight for you. Look at my post (2774) The best price is irrelevant? You don't need to place market orders to get the best price on ARCA. Place limit orders at the inside. I think the best price is relevant, but if you don't I am not going to argue with you. I don't know if this is as clear as it could be, but I suggested using a limit not a market.

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