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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Scott Pedigo who wrote (6497)	1/28/1998 11:29:00 AM
From: Spots	Read Replies (1) \| Respond to of 16892

The process is more complex than that, and the various markets differ considerably. There are several ways to enter orders in each market, both manually and electronically. Many posts on this thread discuss the mechanics of markets in general and Datek (and Island) in particular. Too many for me to cite, even if I had the references, which I don't. The following thread discusses all phases of markets, market making, and market processes: Message 1621801 I highly recommend it.

To: Scott Pedigo who wrote (6497)	1/28/1998 11:32:00 AM
From: Gorak Shep	Read Replies (1) \| Respond to of 16892

Scott Pedigo, before you go any further explaining the markets, you should know that you have NO idea what you are talking about. The NASDAQ market system is VERY different from the NYSE and AMEX exchanges, including with regard to how orders do or do not get filled at bid or ask. Although not guaranteed, it IS possible on all exchanges including NASDAQ, for the individual investor to buy at the Bid and sell at the Ask. It happens though the odds depend on a multitude of factors including liquidity and market conditions. The key words here are POSSIBLE and NOT GUARANTEED. You should understand that it is very dangerous to be out explaining these things to others when your experience is clearly so limited.