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Microcap & Penny Stocks : The New Corporate Vision Inc. ( CVIA ) -- Ignore unavailable to you. Want to Upgrade?

To: K A Anderson who wrote (1491)	4/21/1999 4:00:00 PM
From: Bill Ulrich	Read Replies (4) \| Respond to of 3596

Well, I needed some lunch money. So I put in a limit sell for 200 shares at 2.50 at my borker's website last night. Seeing that it hadn't gone off by early afternoon, I went to the site to change it to a market order, because I needed the faster execution. Message at the site says to the effect, "We're currently in a system change-over, so to change your limit order, you need to call us." So I did. The bid is still 2.50 I explain to the guy that I want to change this to a market order. He says, "What minimum price do you want?" I say, "Huh? - This limit is becoming a market order. I would expect the market order to go off at the bid, or maybe even slightly less if the MM drops the bid a bit. What do you mean by specifying a minimum price for a market order -- I've never heard of such a thing? You do realize that I'm no longer placing a limit order -- I'm changing it to a market order." So he says, "Well, I'm showing this could execute at $1.00" I say, "A buck is completely unacceptable. Specifying a minimum on a market order is news to me, but if you really want one, then let me say that $1.00 is completely unacceptable, and that I'd like the bid, which is currently 2.50, yes?" He says, "Yes, the bid is $2.50 -- you may not get that price though." I say, "Yeah, I know - sometimes it gets dropped. Tell you what, since your inquiring about this thing I've never heard done before -- that is, a minimum acceptable price on a market order -- and I'd say 2.50 'cuz that's the current bid, but I know it may go off at less, then let me specify 2 3/8 since you really think this is how market orders are -- a buck, however, is definitely not what I'd accept." He says, "Okay, I'll put in this market order." I say, "Okay" with the understanding that I'll get something around what I just described above. We hang up. I check back an hour later - damned thing went off at a buck. So - I called them back and explained all of the above, and asked what the heck is going on, and what their remedy is going to be. They said they'll review the situation and call me back. So - I hang my head in shame, somehow tanking the market 75% on a measly 200 share order. I'm just a small-fry; not some great mover and shaker of markets. That's da Truth, and nothing but da Truth? Is anybody confused? I know I sure am.