World Enchantment, 3UU (5) When Bazaar of Wonders comes into play, remove all cards in all graveyards from the game. Whenever a spell is played, counter it if a card with the same name is in a graveyard or a nontoken permanent with the same name is in play.1
Illus. Liz Danforth
Because it only looks in play and in the graveyard, you can cast several of the same spell in the same stack of spells/abilities. This is because a spell which has been announced but has not yet resolved is on the stack and is not checked. [D'Angelo 1999/07/10]
The Bazaar of Wonders only looks at a spell just after the spell is announced, so if a card of the same name goes to the graveyard after announcement but before that spell resolves, the spell will not be countered. [bethmo 1996/11/07] If a spell of the same name goes to the graveyard during announcement (discarding as a cost for example), then the spell will be countered. [Aahz 1997/01/17]