SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : ETPI-Military Entertainment Enters Civilian Market
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: salexa who wrote (2665)1/5/1999 8:07:00 PM
From: Toby Zidle  Read Replies (3) of 4767
 
Steve,

Apparently you don't realize how the market works. With a 26¢ Bid and a 31¢ Asked, there is no intrinsic reason that any trade has to be accepted between these two limits. If you put a market order in to Buy, you should be filled at 31¢. If you put a market order in to Sell, you'd be filled at 26¢. That's simply just how it works. If you didn't get filled at 30¢, it means only that no market maker was sufficiently desperate enough to accept your offer. Though we often complain about market makers in ALL stocks, what you see is common practice ... not an illegality or unethical practice.

If you want to own ETPI at _any_ price, put in a market order to buy and don't be surprised if you have to pay 32¢ or 33¢. (I don't recommend market orders for OTCBB stocks; you'll get taken advantage of - legally.) If you want to pay 30¢ for ETPI, then do exactly what you did - a 30¢ limit order - and then be prepared to wait a while for the market to come to your price.

Finally, you said 'the MM is not working in the best interest of ETPI.' Right! The market maker is not responsible for the best interest of ETPI. The market maker is responsible for the best interest of the market maker. But if he moves the price out of the range where buyers will buy (too high) or where sellers will sell (too low), then he gets no business and makes no money. If there is a 5¢ spread between Bid and Asked, it matters not to the MM whether the stock is at 26¢/31¢ or 56¢/61¢. He still makes 5¢ a share on the spread.

If you still want to buy ETPI at 30¢, hang in there and wait. But you've got no beef whatsoever if your order didn't fill at a price within the spread.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News