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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (4218)	6/3/1998 8:28:00 AM
From: Chris O'Keefe	Read Replies (4) \| Respond to of 25711

To any experienced investors--I made a big mistake two days ago and could use some advice. I recently sold 1.2 million shares of a penny stock (literally, it sells for around .01/share) when the bid/ask was around .015 x .016. I sold at the market, which was apparently moronic. My fill got split into nine parts: 5,000 @ .015 5,000 @ .014 5,000 @ .013 5,000 @ .012 5,000 @ .011 5,000 @ .01 5,000 @ .009 5,000 @ .008 1,116,000 @ .007 (!) To me, this constitutes a blatant and unethical walkdown. I called my broker, Ameritrade, and was told by a manager that this was a good trade for the MM. I did not view this manager as highly sympathetic to my point-of-view that I got ripped off. I feel like an idiot since I have almost no doubts that a limit order at say, .011 to .013, would have filled just fine. I'm debating whether or not I should call and speak with a higher-up manager at Ameritrade. Does anyone have experience with these kinds of protests? Should I take my lumps and move on? Or is this the kind of problem that others have seen corrected (and I should call Ameritrade back)? I'm too inexperienced to know how to assess this. Thanks in advance for any replies, Chris O'Keefe