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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Anne Lamb who wrote (23618)	10/29/1997 1:06:00 AM
From: Larry Brubaker	Read Replies (2) \| Respond to of 35569

aha! so then.. we could play the MM role and push the price UP like they push it DOWN..interesting..now we just need to find a gopher to do it for us..anybody game? <g> Anne: Don't think it works quite that way. If you place a limit buy order above the current ask, and your broker is any good, you should still get the best price available. I sometimes place limit buy orders above the current ask, particularly if the ask is in a 1/32 increment (E*Trade will not allow you to enter limit orders in 1/32nds, unless the price is below, I believe, 50 cents). I still usually get filled at the ask, and on rare occasions, below the ask. The main reason I place a limit order above the ask is to preclude the market makers from moving the ask higher (remember the KEYZ story) before filling my market order.