Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (4009)	5/6/1998 2:14:00 PM
From: Allen B.	Read Replies (1) \| Respond to of 12617

Bob, The term I believe you are looking for is "not held". It's a common term on institutional desks which means just that- you are not held to a specific price. As an institutional trader, when I was given a not held order I would do many of the same things Steve described to check the underlying market and the current factors contributing to the stock's price. My job was to get the best possible price for my clients- period. That is what Steve described himself doing- the right thing for his client. Regards, Allen

To: Robert Graham who wrote (4009)	5/6/1998 8:33:00 PM
From: steve goldman	Respond to of 12617

The order might be something like: :sell 2000 abcd 10 1/4 with 3/8 discretion not held. the 3/8 discretions let me, working as agency only, go down to 9 7/8, not an improvement. The discretion is not to the clients benefit but discuretion to go below the limit. The **Not held component is the component that gave me the room to try to get better with the client agreement to 'not hold' the broker responsible if in going for better, misses it. Regards Steve@yamner.com