Velo, I got "foxed" by a market maker several years ago. I wanted to
buy about 100,000 shares of a stock and I started buying 5,000 at a
time, carefully timing the buys so that I would NOT run the stock up.
After about 3 buys, my broker called me and said her market maker had
called her and wanted to know how many shares I really was interested
in buying. The mm told her that if he knew, then he could get me a
better price. I said, o.k., tell him to get me 50,000 shares. He
did, he got me the 50,000 shares at about 1/4 more than I had been
paying. Learned a good lesson I haven't forgot. DON'T SHOW YOUR
HAND TO ANYBODY, NOT EVEN YOUR BROKER.
Last year we owned 100,000 shares of PLLL, a very thinly traded
stock. We got nervous and decided to sell (good thing). We sold
very carefully without dropping the stock even 1/8. Takes several
days to do that but it's worth it.
Ken |
