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

To: LegalBeast who wrote (1265)	6/17/1998 7:37:00 PM
From: Chris O'Keefe	Read Replies (3) \| Respond to of 43774

This is my response to the person interested in knowing when to sell with a market order or when to use a limit order. Here's my story: Once upon a time I owned 1.2 million shares of a stock that I bought for roughly .008/share. About the time that the stock got to a Bid/Ask of .015/.016, I learned that the float was 165 million shares. Being a bit inexperienced, I thought that was a very, very high number and I sold all my shares with a market order. Mr. Broker told me to be careful, that a market order would lower the price of the stock. I said that I knew that but I wanted out. Mr. MM saw a very naughty boy place a 1.2 M sale order and got very happy. He bought 5,000 shares from me at each of the following prices: .015 then .014 then .013 then .012 then .011 then .010 then .009 and then .008. Finally, Mr. MM bought all the rest of my shares--about 96% of the total (which was over a million shares)--at .007/share. And the name of the stock in our story was.... PRWT! AAAARRRGGGHH! I COULD BE HOLDING 1,200,000 SHARES OF THIS STOCK RIGHT NOW IF I WASN'T AN IDIOT AND DIDN'T SELL IN THE FIRST PLACE! Ahem. The moral of the story is: Try to sell with a limit order. The end. Thank you very much.