Bob, when the major market maker "shows" orders could this actually be false information? Further, when you have asked Schwab not to show your order over the electronic system, is this a favor or an option available at Schwab? How can you be sure they did as you asked?
The method of execution and how you place your order appears to be critical over at least the short term. First of all, there was a comment in this thread that in after hours trading that "limit" orders are not accepted. This seems to imply that a lot of the price manipulation occurs in this "after hours" period versus normal day trading. After watching Filenet take a plunge (14 percent)during normal business hours and then appear at a 1.6 percent gain the next morning it seemed rather odd.
A little more specific question. An example: Let’s say I want to buy 1000 shares of a stock at 8 ½ which is the ask price. The average volume is about 10,000 shares per day with no appreciable spikes for about 3 months. If I place a limit order for the 1000 shares at 8 1/2, do I have a significant risk of paying multiple commissions if I do not select "all or none?" With that amount of volume, what are the chances that the order will not be completed in a single trading day? If I use the "one day only" selection, will the volume of the trade affect whether this is executed or not, considering the historical volume. Years ago I was not very concerned and they probably saw me coming and I did not pay much attention to the details with the "full service broker." (duh)
This next question is for you and anyone else who would like to reply. When and if market makers are contacted directly by an investor (assuming they can find who they are, they seem illusive), what are some good questions to ask and are the "investor relations" departments of companies just sales/PR machines? Has anyone gotten any useful information (I am talking average investor, not Hilary) that the Edgar filings, news, and charts do not show? If so, is this considered a violation as far as insider trading? (Not that the SEC appears to care. Selective enforcement seems to be the order of the day) What are market makers and "investor relations" legally allowed to discuss with the general public who are not their "buddies?"
Cheers for the NASD online complaint system. I hope they know what to do with the information besides shredding it or crashing the system occasionally to cover their butt.
What a riot!
Earl
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