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Pastimes : Market Maker (MM) Games

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To: KZAP who wrote (22)	6/24/1998 11:08:00 PM
From: Richard L. Williams	Read Replies (2) of 41

Will somebody explain this one to me? I put in a market order for 4,000 shares of my stock. I'm not too picky, but Ameritrade wants me to make a limit order so they can get five extra bucks off me. "Nah," I say, "I just want a market order." The order is filled immediately. I check my quote, and the stock goes down 2&#162 on my buy! The bid didn't change, I simply got my order filled at a lower price. This is the first time I saw a buy register as a downtick. This was towards the end of the day on a currently thinly traded stock. I think the MM was trying to make the stock show weakness and scare off some of the holders. Any other takes on this move? Be careful out there! Rick

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