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To: Chip McVickar who wrote (26506)6/29/1999 1:01:00 PM
From: Nemer  Read Replies (1) | Respond to of 44573
 
I haven't noticed this? Could you expand a little more...does this mean markets turn around on small volume and this then attracts bigger volume?

no, what I mean by NO available entry in a fast market condition is exemplified by the open this morning ...

I got a market order sold at 1342 within a few minutes of market open ....
the gap down was so fast that I (from past experience anyway) don't think that a limit order would have been sold at as good a price ...
by the time the limit was hit ..
and
turned into a market order ...
it would have been executed at a worse price than my 1342 market and indeed, could well have been sold at the price I covered at 1340.

No way for me to prove this, but I do know that the spoo does operate in that fashion ...
the emimi, by way of lack of open outcry sales, could well not be affected, or as much.

Does that help any?