Hello Frank,
If you are concerned about a "..runuway completion.." of your order (..if placed at the Market..) then, place a "..Limit order,," at the current "Ask price" - once you have obtained a "real-time" quote.
(See freerealtime.com for free membership and free R-TQs)
If the market value - at the time your order is brought to the trading floor - is LOWER than your limit - your broker's buyer will cancel your Limit order and buy it at the lower price as a Market order - saving you the difference. (Assuming your broker is worth a hoot)
In any case, the most you will pay is the Limit price you selected. The only downside is, if the current Ask price has already run above your limit - you're out of luck.
A $0.01 difference in the price at 10,000 shares is only $100. I rather thought that - with your rather extensive experience in trading and knowlege of LGOV specifically - a $100 isn't really a very significant number in your case. If I'm mistaken, let me recommend that you take a look a ADGI, AREE, FTCFQ, PNTH, GLDN, ISOB and others, that trade in a range where you could significantly increase your leverage.
When LGOV moves back through $0.20 in the near future - your 10K shares will have earned you $1000 [minus (($100+/-) + ( commision))], while you sit there doing the arm-chair mambo.
When LGOV goes back thorugh $0.30 I don't think you'll care about a 0.01 difference in the purchase price. And, at $0.40 do you think you'll even remember what you paid for it?
The last run - contrived by heavyweight day-traders - pushed LGOV back to 0.75, Frank (it was originally a multi-dollar stock, remember). The upcoming advance will be driven by earnings, new business, expansion into additional new areas of business, and significant and continuing news.
If you miss "..glomming.." several thousand shares over a penny today, you are going to be an EXTREMELY unhappy camper in a few short weeks.
It's "..Buy or Cry..." time - and the little blue beacon will be extinguished permanently in what is now - a matter of days....
Good luck......!
John :-) |
