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Pastimes : coug's news and views -- Ignore unavailable to you. Want to Upgrade?

To: coug who wrote (280)	11/18/2005 11:40:22 AM
From: manalagi	Read Replies (1) \| Respond to of 3961

Thanks coug. This is crazy, UARM opened at 31, go up as high as 40, and low of 23.65, and now trading around 26+ up 100%+. This is insane. There was a high demand at the opening, and why would anybody try to get the stock at the open using market order is beyond me. This is how it works: First day of IPO. Some guys look at the bid and ask. They are conditioned that if a market order on a buy will be executed immediately at the asking price. So, the first day of IPO you see a Bid and Ask price. You place a market order hoping to get the Asking price. WRONG. There are so many orders ahead of you waiting to be filled. Market maker increases the Asking price so high and that's what you get maybe 10+ minutes after placing the trade. You are at their mercy. And in the stock market MERCY is just a girl's name.