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To: Steven Bowen who wrote (13820)3/26/1998 5:10:00 PM
From: werefrog  Read Replies (1) | Respond to of 53068
 
Steve:
The daily spread on ORCTF was 15 1/2 TO 18 1/2, however at the close the ask bid was 17 7/16 by 17 9/16, closed at 17 1/2. I did'nt notice the ask-bid spread during the day, but one probably cannot scalp this stock as the ask - bid is too narrow, but I have seen plenty of stocks with a 1/2 point spread between the ask-bid and will probably try to scalp a 1/4 point on one tomorrow. In the Forbes article, those guys were making 160 trades per day, the ultimate daytraders. Someone just using a internet broker, not level 11 or SOES, could still do this but at a lower trade volume rate. I will say this, if this works, and you found out by test and error on your own, and verified your discovery later with the Forbe's article, this could be a goldmine, or atleast one could make more money by buying and or selling at better prices.
Jim-Dallas



To: Steven Bowen who wrote (13820)3/30/1998 10:16:00 AM
From: werefrog  Read Replies (2) | Respond to of 53068
 
Steve: Just bot my first stock using the method you posted. ZVX - the bid was 10.125 & the ask was 10.375 so I placed a limit order at 10.1875 & it was filled within a minute or so. If I had of placed a market order, it would have came back at 10.375 just about every time.
So I saved 3/16 on my first buy trying this method and even if one just uses it to buy in, money can be saved which will add to profits.
Thank You for posting such useful info.
Jim - Dallas