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blademan

07/01/10 5:31 PM

#16449 RE: PianoMan75 #16448

Here is how they are defined. You take your chances by putting in market orders. Especially if there is manipulation.

Market order
An order to buy or sell at the prevailing best market price available, without conditions or limits.


Limit order
An order to buy or sell where the customer limits the acceptable buying or selling price. A limit order can be executed only at the specified price or better. Marketable limit orders (a buy order with a limit price equal to or greater than the consolidated best offer at the time of order receipt, or a sell order with a limit price equal to or less than the consolidated best bid at the time of order receipt) are classified as limit orders under the reporting requirements of Rule 606.