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To: JZGalt who wrote (15532)	3/19/1998 4:05:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 95453

JZ, I agree. That is exactly what I was saying. But here is the point: you can only buy at the asked side, and you can only sell at the bid side. If you look at a lvl 2 screen all of the offers to sell are asks, and all of the offers to buy are bids. Sure, if you are a SOES trader you can choose the MM you want to do business with based on his price, but the transaction will always be based on his bid or his asked. A limit order simply keeps your offer in the queue, and at such time as the MM your brokerage house uses agrees your transaction is closed. And that's an interesting twist. Brokerage houses don't seek the best bid or asked for their clients. That represents a source of extra income from them. Only if you are a market maker do you get the chance to offer shares at a certain price to all other mm's. One other addition to your list of do's and don'ts: don't use stop losses on the NASDAQ -- it's an invitation for theft by the mm's. Regards, Paul

To: JZGalt who wrote (15532)	3/19/1998 4:59:00 PM
From: waverider	Respond to of 95453

Bid/Ask: Frankly I really don't worry about fractional cents on the dollar. If I want the stock, I buy it. I've lost a lot of gain by trying to save a few pennies with limit orders. Diamond H

To: JZGalt who wrote (15532)	3/19/1998 6:52:00 PM
From: davep	Read Replies (2) \| Respond to of 95453

JZg,Nasdaq more fair than NYSE.Spreads are much tighter on otc and trade in 1/16.If there is a 1/8 spread on Nasdaq i'll get filled in between(5/8-3/4 will be filled at 11/16) on NYSE i wont.Ever tried to sell/buy glm at market ive gootten screwed for 1/4 point.Ever go market on NYSE with a 1/4 spread they wont even fill you in between you get slammed on the bid or offer.I go market on otc always and get quicker and fairer prices-the surprises are always nice ones.Market orders on fgii are another thing but fgii is a hokey stock to begin with,cdg on nyse is another at least when they had me chasing it last year.The otc rap is a thing from the past and now a lingering myth.