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Microcap & Penny Stocks : Microphonics Inc. (mrps)
MRPS 0.00010000.0%Nov 20 4:00 PM EST
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To: Bill on the Hill who wrote (714)2/28/1999 1:50:00 PM
From: Andrew H  Read Replies (1) of 8189
 
>>1. No market orders on a buy - NEVER<<

First of all, never say never. While this is often a good rule, it can keep you from purchasing a stock. Sometimes when the trading is heavy, if you want to get hold of a stock before a big run, a market order is the only way to do it, since the MMs will not even look at limit orders, even if they are HIGHER than the ask.

>>2. Do not buy in first half hour <<

Generally a good rule, but some stocks will just continue moving on up from the open. Occassionally your best bet is to catch them at the open, especially if there is not a large gap up.

Really the market defies inflexible rules. IMO every trade needs to be considered on its own merit and its own special circumstances.

But your rules are generally sound principles.

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