To: JCinTC who wrote (12489 ) 6/14/1999 6:13:00 PM From: David Kuspa Read Replies (3) | Respond to
Thank you all for such great responses (and timely to boot). I think JC hit the nail on the head with his post, since I didn't mention that I did place an option of "all or none" on that limit sell through Fidelity. According to the rules JC posted, that effectively gives the marketmakers license to completely ignore your order and refuse to update their quotes to your better bid or ask. Wow, I had no idea there was this loophole. Ditto for orders of fewer than 100 shares (that makes sense) or for orders of greater than 10,000 shares or totaling more than $200,000 in market value. More loopholes. The Fidelity representatives I spoke with never mentioned any of this, even though one of the loopholes clearly gave them a way out.
