Absolutely not. I don't mean to be so cold, but youhave absolutely no standing on Nasdaq, otc stocks. They can totally print right around you and you can't even complain until its atleast bid 10 1/16. At which point they could even say that they weren't bidding 10 1/16, that it was some other firm.
Imagine you are trying to sell your used audi car, xyz, at a dealership. The current market is 10 to10 1/16....youwant to sell at 10 1/16. You take to DAVE's DEALS on elm street...there it sits for 2 days, nothing. Now you see prints at 10 1/16, 10 1/16, but the market still remains 10 to 10 1/16. even while the market is 10 x 1/16th, you see a large number of cars sold at 10 1/8..you get happy, you think, hey, someone bought all those cars at 10 1/8, they were sure to have bought mine at 1/16...after all, why the heck would someone pay more....you happily drive down to the dealer to get your cash only to see your car still on the lot....
the cars that were being sold were being sold down at John's Gems Dealership on Main street. Sure, the prints you saw were audi zyxs and they were at and even better than your price, but sorry, the buyer went to a different dealer.
This is what the nasdaq is...a negotiated marketplace where many firms can ack as a market maker.
Now if this were the NYSE and the stock was on the nyse and you saw prints on the nyse, you would be filled. It wouldbe like seeing a print at 1/8 and knowing it happened at the dealership where your car was, you have every right to be complete.
What firm do you use? Who do they route to? Remember, whomever they route to is trying to make a 1/8 or 1/16 on thetrade....and if they arent, if they are a deep discounter, online internet firm, they most likely aren't going to go out of their way to workthe order, to call around, find out who was doing the buying and offer your stock up to that firm, etc....Remember, the firm selling at an 1/8 th is loving it since they knowthey can always get stock from you at 1/16...hence making a market and a profit.
This is why a firm like ours has such a strong market niche...
Hope that helped.
steve@yamner.com |
