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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Bidder who wrote (27575)	2/14/2000 2:41:00 PM
From: Lee Walsh	Read Replies (1) \| Respond to of 150070

Maybe... Be hard to get out of a lot of it fast IMO. Lee

To: Bidder who wrote (27575)	2/14/2000 3:24:00 PM
From: HEMI	Respond to of 150070

Just for general info!! In nearly all instances placing a market order for penny stocks is very dangerous. ?Wait a minute!? you say, ?I place market orders for stocks all of the time without any problems.? Remember that you are not dealing with regular stocks here, you are dealing in pennies. Penny stocks are heavily controlled by the market makers. When you place a market order you are telling the MM?s that you are willing to buy or sell the security in question at the current market price. Unlike limit orders, open market orders afford the investor absolutely no protection from the market makers. Open orders are not filled in the order in which they are received. If a MM receives your market order during a fast paced market he or she may ?push your order aside? while they fill limit orders. Meanwhile, as your open market order sits idle, the price of the stock you are trying to buy or sell continues to move. By the time your market order fills the price of the stock may be drastically different from when you originally placed the order. In a fast paced market this can kill you. I placed a market order at sixty-five cents and it filled at the day?s high of $1.03. Had I placed a limit order in that instance I could have saved myself a lot of money. In slow moving markets placing a limit order may be acceptable. However, in my opinion, placing a limit order is the safest way to protect your interests. With a limit order you are the one setting the price, with a market order it is the market makers who set your price.