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Non-Tech : MB TRADING

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To: Robert Reiff who wrote (475)	7/11/1998 4:00:00 PM
From: Char	Read Replies (5) of 7382

To all. I need clarification on a point from someone who has been trading with MB Trading for awhile. Yesterday I placed an order to buy a stock via ARCA. It was a limit bid 1/16 below the current bid at the time. There were two MM's above me. Before the bid dropped to my price there were already three other MM's lined up under me. When my price was hit the first two market makers got filled and then I was on top. I seemed to sit there a long time and the whole while I could see trades going at my bid price but I wasn't getting filled. Finally the three MM's under me disappeared, the bid dropped another 1/16 and I received confirmation that I got filled. My question is, once I get to the top of the bid list, shouldn't I get the next fill? It looked to me that the MM's under me all got there fills and then they filled me just as they were ready to lower the bid. What am I missing here? Dave

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