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

To: steve goldman who wrote (3776)	10/30/1998 4:21:00 PM
From: bazooka	Read Replies (1) \| Respond to of 4969

steve, i think i got a couple of tough questions for you. today i was long 500 JPM; when i finally decided to take some profits the stock was at 94 7/16 by 94 13/16. i decided to split the spread and i offered at 97 11/16 (via super dot). i immediately got a fill at 97 1/2; which was 3/16 below my limit. how can i be filled below my limit? am i missing something? i have checked my records (i use rt3) and the log indicates that my order was entered properly at a limit of 97 11/16. what happened? do i have any recourse? i also wanted to ask you your opinion on this scenario. i put an order in at the ask on INKT at 83 3/8 (via ARCA) about 30 secs. before the close; the ask never lifted yet my order remained unfilled an eventually moved over to the bid (via ARCA instructions) and locked the market at 83 3/8. would this be backing away by an mm? i saw trades going off at 83 3/8 for a long time before i was eventually filled on the bid. the inside mm never budged from his offer the entire time all the way into the close. what do you make of this? bazooka thanks in advance :-)