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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: snerd who wrote (150)	6/6/1999 8:23:00 PM
From: -	Respond to of 18137

snerd, Yeah I think what that means is that it will first try to fill your order by matching against other ARCA orders (unlikely), then if that fails it throws you onto the NASDAQ (via a Selectnet Broadcast order), also unlikely to give a good fill. Best way to use ARCA is with a limit price, and let it auto-preference. Otherwise, manual Selectnet orders would be better. There isn't enough liquidity on ARCA itself to get much action there. I guess an exception to this, is when you see one of those misplaced (away from the market) "sucker bids" (or offers) hanging out there for a while from a beginning-level ARCA trader, and you want to take him!! Hmmm... it's kind of like the things those ISLD guys do to each other...