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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: MoneyMade who wrote (11292)	11/14/1998 7:03:00 AM
From: JustInTime	Read Replies (1) \| Respond to of 119973

Hi all, I am a new "member" of SI, but have been lurking for a long time so here is my first post. I made the jump recently to Nasdaq Level II (from DBC), and was wondering if someone could either recommend a good book/website that I can use to read/understand/decipher the information that is there. The first day I had it, I made $2600 in about 30 minutes, but I am not really sure I understand all that is being displayed? For example, I got a tip the other day for a stock , I put a buy in for 2K at 9 11/16 (I used Schwab web), within 3 minutes I see a bid show up (MASHp 9 11/16, 2000 shares) (I think MASHp is Schwab, all the trades I put in show up under that MM symbol, not sure why). About 5 minutes later I see the ticker show 1K at 9 11/16 and another 1K at 9 11/16, and the order drops of the bid side. I check my Schwab account and the order never got filled. (I also watched and there never was another 9 11/16 bid placed) This is a fairly thinly traded stock (< 250K a day) so I doubt it was anyone elses. Do the brokers play games that I don't yet understand yet? Do all trades submitted show up on the Level II screen? I had a very similar experiece with another stock where I put a 5K sell at 10 1/8, I see the trade come in on the ask, I see a whole bunch of shares sell at 10 1/8, I see the 5K 10 1/8 MASHp ask drop off the screen, and the trade never got executed? What gives? Appreciate any insight or recommendations for further reading.