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Microcap & Penny Stocks : ICVI (now MTEI) -- Ignore unavailable to you. Want to Upgrade?

To: Turboe who wrote (5170)	5/31/1998 8:39:00 AM
From: Dixie7777	Respond to of 11850

Morning Turb, I think it really depends on the "trading department" of your specific broker. After all he/she has to actually call the MM at the MM firm and get/sell the shares. "Your" broker should be negotiating the best price for you up/down to your limits. It's their job to get you the BEST prices at and from the current bid/ask at the time you place your order. Remember, your $1 was only a "limit" not what you'd take if the bid was at $2. If you placed your order while the bid was at 2, you're saying I want 2! And limit to $1. That's the main reason we see such volitility here in Bb issues. The price runs up 200% and someone "dumps" 100,000 shares while trading at 2 with a $1 limit. The MM's have a field day, the price plummets even further than the 1 limit due to the "whirlpool effect" and then rebounds, hopefully. Now if your specific brokerage makes a market in the specific equity that you are trading, they are still supposed to do the same. However, i have found that my broker, Fidelity, may take some license in that case with the price and skin me a bit. Additionally, i have also found that if the b/a volume is say 2500 and i place an order for 5000 I may get an immediate fill for the first 2500 and the next 2500 will come in bits and pieces at other prices along the way, up or down, depending upon whether I was selling or buying. Now here is the anomaly. I have placed the 5000 orders, had happen what I've indicated, but simultaneously,(right behind) place more orders at the b/a volume of say 2500 and get them filled at the same price as the 1st half of my 5000 order which in fact was placed first. Basically tells me that I should never place an order above the b/a volume range. Many times the later placed orders were filled instantaneously and minutes ahead of the second half of the 5000 share order. I ahve always been told it was a "trading department" issue. There appear to be many more details surrounding this subject when it comes to BB issues but far too complicated to take-on here on the board. I would sincerely suggest you converse with your respective brokerages regarding all these trading issues and I'm confident you'll find there are methods you can employ to make better trades and therefore better returns if you do any daytrading. Just for the record, yes i do some daytrading but still have more than 70% of my holdings in long and longer term equities. Still holding ICVI strong and hoping to add another 20k mon if there is a dip after the gap-up at open. Also, a from the heart thanks to Macker, Byron, Mr. D, Rocketman and et al. A favorite charity of mine years ago in NY used to be Covenant House. They did suffer some bad press but that has cleared and they still do a great job with "The Kids." I will be contributing to them in the name of Macker as I take occassional profits. Rich

To: Turboe who wrote (5170)	5/31/1998 11:26:00 PM
From: omegaman	Read Replies (1) \| Respond to of 11850

On BB's if you put a limit sell in at 1.00 and the stock is at 2.00 the MM's can give you 1.00 or BETTER-- they will take your stock... I was talking about both buys and sells, I never would put a 1.00 limit sell on a stock that is trading at 2.00. I might put 1.90 sell on a fast market stock that was showing 1.95 X 2.05. Like i said, it depends on the situation. Didnt IU teach you about the market? I know it didnt teach me. But Bloomington was a blast. Nicks was great.