Buy stop woes

[Brad Rylander <bradry@xxxxxxxxxxxxxx>]

I just received the following from Ameritrade:

Dear Brad:
EUSA is a NASDAQ stock and a bad stop is not judged on the actual
price but on the bid or ask.  The ask at close and open was 38 3/8,
and your limit was 38 3/16, so it was rejected at the market.
                  ^^^^
	         I'm not so sure I understand this.  It definitely was
not a limit order but it might as well have been.

On the bid *or* ask?  The close was 38 3/16 so I guess I should have
placed it a bit higher..

Also, "the ask at close and open..."   
                                             ^^^                    
Both?

I guess I'd better pester them for more explicit details.  If I get them
I'll post.

Thanks again to all who replied.

--
Brad