TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: TATRADER who wrote ()	2/22/2000 4:32:00 PM
From: Charles J. Wajciechowski	Read Replies (3) of 59879

An interesting thing happened to me today! A BB stock I own moved from 0.20 x 0.21 to 0.25 x 0.29. I have a substantial position and could have cut and run, but was interested in trying to figure out MM tactics. I am sure I could have asked here and saved a little cash..... but decided to place a 1k sell order at 9/32 which was just below the ask. The order never appeared on realtime quotes... and after 3 hours (and the range moving to 0.28 x 0.29) without being filled, I decided to change the limit order to a market order to see if it would fill at 0.28 or if the MM's would drop it down lower......sure enough it dropped to 0.235 to be filled. If anyone has any insights, please share. This was a cheap test. Wanted to see if the move was real...AND...wanted to see what the MM's would do once they saw a market order come in when the spread was 0.28x0.29. Happy trading all!! Charles

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