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To: werefrog who wrote (13815)	3/26/1998 12:49:00 PM
From: Steven Bowen	Read Replies (1) \| Respond to of 53068

"I feel that cutting these 1/16's, one would need a really good execution broker, SOES, Watcher, etc. I will try buying with a limit order using this 1/16 method & see what happens, but as you say they might play games with you." Jim, this shouldn't have any thing to do with your broker, but as the article said, some were faster at publishing your order than others. This isn't up to your broker, it's a NASDAQ rule; if you place an order that would be better than the current best bid or ask, your broker has 90 seconds to either fill you (in the case I've been using of a 40 by 40 1/2 and you place a buy for 40 1/16, your broker can buy at 40 and sell to you at 40 1/16 and keep the 1/16 spread plus commissions) of they have to reflect your order in the best consolidated quote, ie quote should change to 40 1/6 by 40 1/2. If your broker doesn't do this, you have a legitimate beef and probably a good lawsuit. The next person anywhere that wants to sell will sell to your 40 1/16 bid and you should get your fill. For this reason, since you have to wait for someone else to sell, your execution won't be as fast as if you were buying from a market maker. But if you don't use an AON order, if you don't recieve a fill within 90 seconds, watch a real time quote and make sure the quote updates to reflect your order. If not, complain to your broker. I use E*Trade and they reflect my orders in a timely manner. And remember, you aren't cutting 1/16's, in the example I've used, you're cutting 7/16's off of what a market order would get filled at. Something definitly worth considering.