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

To: Baker Street who wrote (18009)	11/28/1998 1:51:00 PM
From: JEB	Read Replies (1) \| Respond to of 119973

That's the whole reason I trade at Generic. I pay more per share but there is no broker between me and the trade. I fill almost instantly and the exchange traders or clearing house fills at excellent (In some cases better than my limit) fills.

To: Baker Street who wrote (18009)	11/28/1998 2:04:00 PM
From: HiSpeed	Respond to of 119973

This sounds like more proof that NASDAQ MMs are biggest F@#$%&&&%^$%ING GW#$%^&M crooks on the planet!!!! OTOH we should thank them for ramping the stocks we are long ;-). NYSE wouldn't let that happen. jmo

To: Baker Street who wrote (18009)	11/28/1998 3:57:00 PM
From: kendall harmon	Read Replies (3) \| Respond to of 119973

This is a very helpful piece from Gary Smith's column. As a Brown customer myself since 1989, I have been very satisfied with their work overall. However, in the last week especially, I have noticed exactly the same thing happening with (a few) Nasdaq orders. It is very clear to me that the problem is not with Brown, but with a shift in behavior by the market makers. Tim Luke is correct of course that Level 2 and time of sales is a crucial means of support. But in very fast market conditions, MM's are singing a different tune. Regularly I am told in fast markets which are handled manually the mm's need to be given 4 minutes to fill. In other words, even if time of sales shows a certain price when an order is executed, if the price one is given actually appears on TOS within four minutes then one can do nothing. Then, on Friday in a trade with AMEN, which I admit was moving all over the place like a rocket, I was told by a Brown trader that the mm's were giving them a 7 minute window. I am still absolutely stunned by this. I told the Brown trader that the mm's are basically taking away any possibility for entering a market order for any "fast market" stock, which as many on this board know is sometimes what was has to do to get a fill. It is clear that MM's are altering their behavior to punish the little guy as much as possible. We need to think creatively about responding to this practice as decisively as possible so it is nipped in the bud. Seven minutes!!! Some of these internet darlings could move 10-15% in that time!!! Give me a break.