Market Makers - What They Do and How They Do It Message Board

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Non-Tech : Market Makers - What They Do and How They Do It

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To: JCinTC who wrote (206)	3/4/2000 7:58:00 AM
From: Greg Jung	Read Replies (1) of 429

I encountered a peculiar situation on a BB stock yesterday PM, and maybe somebody has seen this before. I own 1400 shares and wanted to lighten up as it has just run up from 2 to almost 5. Volume was 1.5 -> 1.8 million while this happend and volume has always been high. Through Schwab, I put a limit order to sell 700, limit at the bid (bid/ask spread was 1/32). Never executed and I cancelled after 15 minutes. I put a market sell order for 500 shares at 3:24. This also never executed, and I'm still holding the whole lot. While I was trying to sell shares, the stock traded at least 200,000 shares. Are there any suggestions as to why it wouldn't go through? I'm guessing that Schwab must have been electronically blind to this stock in some way (I presume that market orders would need no human intervention) or they had to handle orders to BB by hand and were swamped. Greg

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