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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Pancho Villa who wrote (4201)	3/6/1998 12:50:00 PM
From: Marconi	Respond to of 18691

Hello Mr. Villa: >> the bulk of my orders are day limit orders usually not far from where the stock is trading, most frequently at the bid when buying and the ask when selling. May go away from the bid/ask when I don't really care about whether I buy/sell the position.<< I agree wholeheartely. Limit orders are largely publishing an invitation to the MM's to snatch a trade--you are playing more into the hands of the MM's than to the prevailing tune of the market. I would use limit orders for coverage only say, during the course of brain surgery, until conscious again. Best regards, mdr