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Strategies & Market Trends : From the Trading Desk

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To: steve goldman who wrote (4070)1/14/1999 1:25:00 PM
From: GrnArrow  Read Replies (1) of 4969
 
Steve,
A couple of questions related to trading listed stocks:

1)If the quote is 1/8 x 1/4, and I enter a short order at 3/16, and a minute later the quote drops to 1/16 x 3/16, does my short order get priority over the regular offers at 3/16?

2)Is there a time limit for a specialist to display or execute an order which improves the inside quote? Yesterday a stock was 1/16 x 1/4, and not trading fast. I entered buy at 1/8. The ask was taken out and went to 3/8. For 2 1/2 minutes the bid stayed at 1/16 while prints went off at the ask, and then the bid jumped over mine (which was never displayed) to 3/16. Isn't 2 1/2 minutes an unusually long time?

3)If it's after 9:30 and a stock has still not opened and you enter a market buy, are you still entitled to get the opening price? What about if you enter an order while a stock is being indicated?

Thanks!

Grn
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