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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: pt who wrote (3328)	6/30/1998 1:38:00 PM
From: steve goldman	Respond to of 4969

"with all due respect'' ...no need to qualify your statement with that, I am entirely in agreement. I am not saying it cant be done but that it currently ISNT being done and that a firm such as ours is one of the few that does work orders as such. I am a great proponent of technology and feel it should be utilized whenever possible. There is a risk reward issue with most firms and working orders. I dont think Schwab wants the liability associated with such an order for $19.99. Imagine if the stock tanks, you stop gets taken out and 1 sec later, it snaps back up on a huge block. It all depends on the spread between your stop and limit. I wont get involved with anything less than 2 points. Thats my margin of safety. Its just not worth the liablilty for $19 bucks. Regardws Steve@yamner.com