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Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46
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To: LC5683 who wrote (4966)1/25/2000 12:27:00 PM
From: LegalBeast  Read Replies (1) of 5541
 
Now someone tell me what their take is on this MM behavior:

I trade with Ameritrade. Yesterday I placed a limit sell at .018 late in the afternoon but before close. It did not execute, and in fact the screen last night told me that it had expired. Then this morning I looked at my positions and lo and behold, the MMs grabbed it up before open at .018. I called Ameritrade and they informed me of something I did not know: A MM can go back for three days and grab any order that did not execute and execute it at the limit you placed on it when your originally entered the order! So, even though the lowest price that was in effect today was .019, they were able to grab my shares at .018 and recycle them to someone buying at .02!

Well, I see a number of things going on here ... First, the MMs are low on shares ... next, the price is going up and the MMs are expecting it to go higher (else they would have just naked shorted it and left my shares on the shelf) ...

And lastly, this is a warning to everyone that this three day rule exists!!! As example, lets say that you place a limit sell order today at .02 and in three days we are at a buck a share. The MMs can go back and grab your shares at .02 thank you very much!

Ameritrade tells me that this is a rare occurrance, but it does happen occasionally. Hmmmm ... looks like it can happen at any time that these jerk MMs want it to!
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