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Re: MYTQUINN post# 7412

Tuesday, 11/25/2008 4:15:29 PM

Tuesday, November 25, 2008 4:15:29 PM

Post# of 83075
I think eye summed it up pretty well, however just to amplify a point, you have a degree of surety with the bid and the ask.

You KNOW you can always buy and the ask.
You KNOW you can always sell at the bid.

Those aren't always the prices you want to do either at, but you know with surety you can get the buy or the sell job done at those prices.

If you put a sell order in above the ask, or a buy order in below the bid, you are relying on the volume of trade in that particular security to fluctuate the bid or ask up or down into the range you preset for either operation.

If you put a buy order in above the stated bid, you become the new high bid and if any order is to be filled below the ask, your high bid order "should" be the one. This example, since it lacks the "surety factor" of placing your order at the ask, has no guarantee of being filled (but might be).

BTW I agree with your assessment of the risk to benefit ratio here, the upside of the metamorphosis from exploration stage miner to production stage miner is exciting...and profitable! Good luck, and all the best.

GLTA !!