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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Darcy who wrote (27663)	2/14/2000 9:09:00 PM
From: NY2002	Read Replies (1) \| Respond to of 150070

I sent an email to Ameritrade on Friday complaining that my orders (AMDI) were not being filled even though the limit buys were above the ask. Here's their reply ******* Dear Valued Ameritrade Customer: Your inquiry is in regards to a limit order for an OTC Bulletin Board/Pink sheet security. With a limit order you will want to keep in mind that you are only guaranteed to receive your price or better, not a fill. Fills are directly related to how many orders and shares are in front of your order, and how many shares are available at each price. Consequently, your order may not fill even if your limit price is reached. Each bulletin board trade involves a Market Maker. Unlike listed or regular NASDAQ securities, a bulletin board security requires that you always buy from the market maker on the ASK side and always sell to the market maker on the BID side. The difference is the Market Maker's profit margin. Because you always buy on the ASK side, a bulletin board stock can trade at or below your buy limit and not trigger an execution of your order. Conversely, because the BID must rise to your sell limit price, a bulletin board stock can trade at or above your sell limit and not execute your order. The best way to tell if you are due a fill is if your price was reached by the ask on buy orders or the bid on sell orders. For this reason, you can see trades above and below your price and not be due a fill. Also, on bulletin board issues, "match" and/or "cross" trades do not occur. In addition, as you should be aware if you are trading pink sheets and bulletin boards, since there are no rules of reflection you can be "traded through" and still not be due a fill as you would be on a listed or NASDAQ security. If you have further questions, please reply to this message or call Customer Service at (800) 669-3900. Please include the original email(s) if replying to this message. Thank you, Brian McCarthy Trade Inquiry Ameritrade 800-669-3900