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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies
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To: JustInTime who wrote (16976)11/26/1998 10:49:00 AM
From: Paul A  Read Replies (1) of 119973
 
Looks like the problems with discount brokers is coming to a serious peak now.. Ameritrade completely collapsed yesterday afternoon after 2 weeks of horrendous performance.. Their new line is - if you place a market order to buy or sell on an internet related stock, the market makers are allowed a 5-10 minute window to fill that order.. I have that in print and will be looking into this one a bit further since someone is laughing all the way to the bank on this new trick..

Im probably going to move back to a full service broker now that I have a bit more cash to work with. I honestly could have doubled my profits this week if I had real execution. Tokyo Joe always talks about how not having level II is like being blind, one hand tide behind your back etc etc.. well, using a discount broker during an incredible run like we have had the last 2 weeks is another worthy example of how to help yourself loss money.

In an ironic twist however, I put an order to sell my shares of MALL yesterday thru ameritrade when they were crashed.. It took 15 minutes to have the order filled, I put it in at a limit of 40 7/16 and it filled right at the close much above that price which helped me gain some ground on all they cost me during the week.

its hard enough to deal with the stress in this business, but whats worse than that is dealing with a company that just isnt capable of handling active accounts but dosnt want to admitt it.

enjoy turkey day folks!
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