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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (1118)	11/22/1997 7:17:00 PM
From: Harry Ehrlich	Read Replies (2) \| Respond to of 12617

irby, I understand that on a wide spread I can enter a limit price anywhere in between and often get filled. I have often done that for stocks that I wished to buy and hold. I would patiently wait for the fill. But I am now moving towards becoming a day trader. As an example, I am looking at Brunswick Tech (BTIC) for a Monday trade. Friday it broke above the 50 day ma with a wide ranging day and good volume. I think their is good potential for follow through on Monday. Average volume is around 50,000 and it traded 400,000 on Friday. But it closed at 16-3/4 x 17-1/4. How does a wide (half point) spread like this help me as a day trader? Let's say it opens at the same bid/ask that it closed on. If I place a limit order at 17, I might not get filled and miss the move. If I buy at the market and catch an upward move, I might want to get out quickly. Again, If I place a limit order I might not get filled. And if it moves against me, I would also want to get out quickly. So, I'm still not sure what the advantage is to trading wide range stocks. Would you advise placing a limit order to buy BTIC at 16-7/8? Harry