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A couple of questions about the limit order to sell at 47 1/8 you placed last Friday...what was the Bid at the time the market reached an Ask of 47 3/16? and, how large was the order to sell? Rhetorical questions as it is not necessary for anyone but you to know! If the Bid never reached your Ask, 47 1/8, the market makers are not required to take your shares no matter what! Under SOES, the Short Order Execution System, orders for a thousand or fewer shares are put in queue ahead of orders greater than a thousand shares at the same limit...but, if orders are greater than a thousand shares and, or with limits, they may languish until someone big enough comes along to scoops them up...also, if one places special conditions such as "all or none", he may find orders with less restriction are filled ahead of him...the market makers may pull those with restrictive conditions, limits to the side until the market pulls them away, which might not happen. One of you real experts may have to correct me in the notions set forth herein...but, my guess is the market Bid never hit your Ask and therefore there was no requirement to fill your order, to buy your shares at your Ask. |
