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Microcap & Penny Stocks : ProNetLink..(PNLK) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Mohebbi who wrote (8227)	6/6/1999 6:07:00 PM
From: Bob Mohebbi	Respond to of 8242

MOre good reading from the Yahoo PNL message board. We need people like this guy (no nonsense and informed) on this board. Just for everyone to know this medium is for the purpose of sharing valuable information and not for nonsense chatter (abuse). Enjoy. >You can have a LIMIT ORDER in at the ASK, and NOT GET IT, because there are MORE ORDERS AHEAD OF YOU, that were placed BEFORE YOU, and the PRICE RISES before it get's to your order.< Actually, there is another reason why your ask order was not filled. Who ever the MM that your brokerage house sent the order to, has no inventory to fill the order. I think that the MM has three different ways to go on such an order. One is to raise the bid price and the ask price, where some investor is willing to part with their stock, or short the stock by borrowing the shares to fill the order. And the third is to do nothing. I have put in limit orders at the ask, only because putting in a market order at the ask, will move the ask price. When I say that I put in limit orders, one has to remember that a number of brokerage houses charge $ 5 for limit orders [E*Trade is one of them]. Fidelity does too, unless you are part of their frequent trader group. [72 trades a year]. Recently, Fidelity made it easier to join that frequent trader group by changing their commission structure. Example: If you want to buy 5000 shares of a stock, it use to be that Fidelity charged 14.95 for the first 1000 shares, then 2 cents for every share exceeding 1000. Therefore, your commission would be $ 94.95 for buying 5000 shares. The new commission structure is per trade. So if you broke up your trade into 5 trades of 1000 shares each, your commission would be $ 14.95 per trade, or $ 74.75. A savings of $ 20.20. If one has been with Fidelity for 3 months, and it looks like you will be trading 72 trades for a full year, they will change the commission structure on the anticipation that one will trade 72 times a year. With this new commission structure, it becomes real easy. Anyway, I trade with Datek, and Fidelity, since Datek does not trade pink sheet stocks. Datek at $ 9.99 for up to 5000 shares is a bargain. Based on the best Fidelity commission price, that's a savings of $ 64.75. If you are into trading for lunch or dinner money, you can make money on Datek at 1/32. A 4800 share trade at 1/32 is $ 150, net ~$129.