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To: manny t who wrote (3798)	9/5/1999 9:57:00 AM
From: Madharry	Read Replies (1) \| Respond to of 10027

I read your tale with interest. I personally have noticed unusually large spreads in quite active stocks so the before I enter a market order I always check the spread, and if the spread is more than 1/16 unless I am desperate I usually put in an order 1/16 over the bid or under the ask, and mostly it works.

To: manny t who wrote (3798)	9/5/1999 10:25:00 AM
From: Gary Korn	Read Replies (1) \| Respond to of 10027

Manny, I used to scalp teenies through an account at Fidelity (Fido). I did this on highly liquid stocks, like DELL and INTC. Whether Fido routed to NITE or to itself (it has an in-house MM department), I consistently got filled at the bid (when selling) or ask (when buying). I would get that fill even when there was just one MM on the ASK showing fewer shares than I had. Thank you AutoEx! No complaints. I then tried an account at ABWatley. More than half the time, when I selected ISLD (Island, an ECN), I got partial fills. And this occurred, again, on highly liquid stocks like INTC. It also occurred even when ISLD showed more on the book than I was selling. Someone must have kept getting there before me so, after a short time, I stopped selecting ISLD at all. As for Level 2, I've now eliminated that $300/monthly expense. I've also eliminated the commission expense by moving to Merrill's unlimited advantage account (no commission on equity or option orders, annual fee of $1,500 minimum, which can be paid for through Visa points accummulated on the Merrill Visa card). Also, I stopped scalping teenies (and paying short term capital gains on my ininitesimal wins) and am now investing for the long haul. When I want excitement (such as it is), I turn on isld.com and watch the book go by. Gary Korn