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Biotech / Medical : Biotransplant(BTRN)
BTRN 35.190.0%Dec 19 4:00 PM EST
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To: Arthur Radley who wrote (114)10/8/1998 12:51:00 PM
From: scaram(o)uche  Read Replies (2) of 1475
 
>> wanted out at any price, as the bid has already jumped back to
3/16th <<

The 1 3/16 bid never moved. I know, because (1) it is mine, and (2) I've been watching Quote.com.

I called Schwab 500 to ask why my trade had not executed, given that my bid was well above the negotiated trade at $1. A quick call-back, they informed me that, for 10K shares or greater, the market maker is not obligated to pick up orders at a higher bid.

This is an interesting loophole which favors the institutional investor at the expense of the individual. Makes sense for shares that trade at $25, but were talking a total of $10K in this instance.
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