NITE SECURITES IS A SCAM! The following is what happened to me today while trading, and yes I know these are BB stocks...
$3 BB stock TEXN, placed sell, filled 2000 in 20 seconds at 3. 1 minute later place another sell, 2000 at market at $3...I fill at $2! 15 minutes later! Try to rebuy at market at 1.56...fill at $2.125. ALL NITE holding orders. On the way DOWN, NITE was crossing up the stock by lowering his ASK forcing other Market Makers to drop the bids, when they did, he dropped the ASK again to force them lower, all this time not filling a share.
USDI: Placed a 10k buy at Market, stock .62 x .625, filled in 10 seconds at .625. 30 seconds later placed several orders for USDI at market...NONE FILLED. Tells me SHARES AHEAD so the orders EXPIRED. THis was at 3:30 PM today, 30 minutes prior to the close. Stock closes at .76 on 9 million shares traded. THis is an outrage. I fill one order in 30 seconds, then one placed 1 minute later does not fill in 30 minutes. My broker tells me they have 50 market orders unfilled all on USDI from 3:30 on, ALL NITE. The whole time UP NITE was on the BID buying for himself.
The SEC will see this, as I am filing a complaint. ITs outrageous the way NITE is handling these orders, and I am sick of hearing the BB STOCK bull. They are STOCKS that TRADE and NITE MAKES A MARKET. If they dont want to fill, DONT MAKE A DAMN MARKET. They only fill an order when its to their benefit, not a way to do a job making markets liquid. I should not have to wait 2 hours to fill a market order on a sell and of course fill the LOW...its a LIE if they say shares ahead, cause this means NO SHARES AFTER ME AT ALL. Total BS.
I urge all who get screwed by NITE to complain to your broker/SEC about this. |
