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Microcap & Penny Stocks : PanAmerican BanCorp (PABN) -- Ignore unavailable to you. Want to Upgrade?

To: wally street who wrote (1194)	6/17/1998 1:56:00 PM
From: myturn	Respond to of 43774

I rarely,rarely, sell at market, because nine times out of 10 you don't get market price..... Nine times out of 10, I call in my orders if it isn't near 1/64 or 1/32, because if a lot of people are selling when you want to sell the MM's will fill it at what you are asking. For example, like this morning, when PRWT was @ .10 and the bid was @ .098, I saw numerous sell orders getting filled @ 3/32....Those people if they were selling 100,000 shares, cost themselves anywhere from $200 to $500 on that spread because the MM's were filling them at what the people were asking and not @ .098. That is a spread of nearly .005. That in itself is a very bullish sign to me because the MM's are expecting this monster to grow wings! The MM's with PRWT, overall have been on the Up and Up, because I believe they want this thing to go higher also...

To: wally street who wrote (1194)	6/17/1998 5:16:00 PM
From: LegalBeast	Read Replies (1) \| Respond to of 43774

According to my experience, there are times when you may use either. It is not as though you only want one tool in your bag of tricks. For instance, when a stock is hovering at, say, a buck, and you decide it is time to sell 10,000 shares. If you place a market order, you may well get filled at several places on the way down and will end up lowering the bid all by yourself. On the other hand, if you tell them to sell 100,000 at a limit of .99, which is barely below the bid, they will sell at .99 for the lot, BUT, if you place a limit of 1.00 (the bid at the time) your order will go unfilled. Now then, say the stock is at 1.00 and 20 min later it is at .8. You look at the intraday and it is dropping like a rock, you have two choices. One is to wait for a bounce and not give in to panic selling, the other is to do some DD. Say, you find a rumor that the company has just filed a Bankrupsy. You want out, but it is going down so fast that a limit just wont work and you want to salvage anything you can ... THEN is the time for a Market order ... On the other side, someone tells you that a stock is flying. You check the intraday and wow, it is up from .0155 earlier this AM to 2.50 and still climbing as fast as yu can hit reload on your freerealtime. Then is a good time for a market buy. Heck, folks will appreciate your market buy and shower you with accolades because you made it go up even more ... I hope that was as confusing to read as it was to type :-) Anyway, the proper answer boils down to the totality of the circumstances, and not to panic. There is a time to sew, to reap, to jump in and to jump out ... I don't think that there is a time to panic, but then so many folks do it that there surely must be a time for that too ... (I know, don't call you Shirley)