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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: arnold silver who wrote (3483)	10/27/2003 11:27:10 PM
From: Ken W	Read Replies (3) \| Respond to of 23958

Arnie What you are describing appears to be a market order right at the close. Many times (particularly with bb stocks or thinly traded stocks) the MM will trade around the best inside bid and ask. As you know there are two markets, institutional and retail. We are retail and see (even on non professional level II) the best "public" bid and ask. Institutional traders play in a wider spread then we do...the trick for us is to try and "guess" where they are trading to get the best price we can, sometimes it works, sometimes not. LOL In the case of market on close sell or buy orders...I've always maintained that the 5.00 commission market order is one of the biggest fiascos ever brought upon the retail public. The 5.00 commission always ends up being filled at a higher price on the buy side and the lower price on the sell side. So, a .03 spread trade costs the 5.00 commission about 30 bucks more on 1k share orders..how's that for a savings!! Hope that help clear it up. Not to worry though, if there is news coming that has not already been built in, the stock will run. Ken