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To: Emec who wrote (685)11/8/1997 10:01:00 PM
From: Linda Kaplan  Read Replies (1) | Respond to of 1923
 
David,

You said: "If you and I both place an order at the same time for 1000 shares of stock x which has a bid and askk of 8 x 8 1/4 and I get it for 8 1/8 and you pay 8 3/16, you have paid $62.50 more for the stock and your apparent savings is actually a cost."

Is that an example of market orders? On market orders don't you end up buying at the ask? On a limit order would you be setting a limit at nearer the buy automatically?

Linda