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To: Craig Kaltner who wrote (2562)5/13/1998 1:47:00 PM
From: Vanni Resta  Respond to of 7150
 
Craig,

Was it a limit order?

Vanni



To: Craig Kaltner who wrote (2562)5/13/1998 1:47:00 PM
From: Marty  Read Replies (1) | Respond to of 7150
 
Just my two cents, but putting in a market order that size is just asking to get mugged. The MMs will eat you up on the spread, which is bad enough, but I think that long term manipulation where they pull stocks down as far as this one went in order to load up and sell at higher prices is very rare. Not to say that they wouldn't do it if they could.

I think you HAVE to put in limit orders unless you are trading very popular NYSE stocks. If you can find good stocks like this one, you can eventually recover the fractions they screw you out of and hopefully get over it. I know it sticks in your craw, but it you make 10 points, consider it the price of admission.

Good idea to switch brokers and let them know why. If enough people do this we may get more honesty from them if only because it is in their best interests.



To: Craig Kaltner who wrote (2562)5/14/1998 7:05:00 AM
From: Manly  Read Replies (1) | Respond to of 7150
 
Why not choose an online service like Datek, Dreyfus, Etc. There are a number of firms which don't charge you extra for buying at a limit price which we always do. With online investing msuh easier to control yourself then to call a broker and trust him to tell you what's happening with a stock. Some firms charge $5.00 a transaction to place a limit order, but I know Datek and Dreyfus do not charge extra. Market orders always seem to be placed at a higher price then what limit orders are filled at.

Glenn