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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Chris O'Keefe who wrote (4230)	6/3/1998 8:33:00 AM
From: Joe Copia	Read Replies (2) \| Respond to of 25711

You can complain but you should never place a mkt order period on penny stocks. In the future it may be best to place a limit order just under the bid. They are filled quickly when you are under the market/bid and they cannot walk you down. It happened to me before and I also learned my lesson the hard way. Joe PTG&LI !!!

To: Chris O'Keefe who wrote (4230)	6/3/1998 8:57:00 AM
From: LaShark	Respond to of 25711

Think you can call and place a limit order to your online broker company for a small addition to your normal online fee. For example, if I used suretrade I can not place an order online less than 1/32 increments unless I called them directly. The cost would be $30 vs. $7.95. In your case, that comes to less than a micro penny a share which is less than the abuse you took from the MM dropping the price on you with a market order. Good Luck and stay away from those market orders.

To: Chris O'Keefe who wrote (4230)	6/3/1998 9:05:00 AM
From: Wayne Rumball	Read Replies (1) \| Respond to of 25711

Ouch! Tough to know what to do. If you place a limited order at 0.014 the thing could trade with a bid of 0.02 all day and the MM's might not take your order. If you put in a market order you get scr*** on that volume. Good thing they didn't walk it down to 0. Maybe you should have fed it out in blocks. Risks we have to live with and can't do much about.