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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: B. J. Barron who wrote (7936)	7/12/1999 1:45:00 PM
From: OldAIMGuy	Read Replies (1) \| Respond to of 18928

Hi BJ, Remember that Mr. Lichello recommends that we keep the minimum order size to about 5% of the equity value of our holding if possible. So, in your example if we have an order in at $20 and the price shoots to $23 during the day, we'll get our minimum fill for selling 5% of our position only. Then we have time to evaluate what the next buy and sell prices are going to be and how soon we want to place them. But still we're trading only minimum size orders. What has happened several times to me is that a $20 order is in place for a period of time and, at the close on one day, the company will announce better earnings than expected and the stock will OPEN at $23 and that's the FILL price I get. This always makes me smile! I'm sure this has happened to others here that use GTC orders. Hope this helps, Tom