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Microcap & Penny Stocks : HGRM--Any Followers?

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To: Ted M who wrote (1919)2/18/1999 10:29:00 AM
From: Jim Burnham  Read Replies (1) of 3576
 
If I get any of this wrong, please correct me.

Keep your eye on the ask size. I believe it was 500 shares. If you put in a market order at the ask size or lower, the exchange automatically fills the order without any input from the MMs. If you put in an order for more than the ask size, then the MMs get to decide if they want it. I'm not sure what happens with a limit order at the ask size or lower. My guess is that the MMs get to decide on it.

Note: I am focusing on what happens automatically and what doesn't happen automatically. I've heard people claim that what happened to you is against the rules. I don't know if that is true or not.

Jim
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