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Microcap & Penny Stocks : Afton Foods ( AFF ) -Franchise Consolidator -- Ignore unavailable to you. Want to Upgrade?


To: David Michaud who wrote (8)3/2/1999 12:03:00 PM
From: DaveU  Respond to of 60
 
David,
I have very little experience with OTC stocks. Is there a specific way to buy shares from MM's versus a TSE stock. I bought some Monday by putting an order in for 75k at .165 and got 20k filled. Changed the order to ask and eventually got the rest filled in two portions at .17 . Interesting to me that the (2) 10k fills at .165 didn't show up on my Stock Watch ticker ( maybe at end of day, I didn't check). Can the MM's do this,(report any time they feel like it). Today I ordered some (27.5k) for my RRSP and have a partial at 11K. No sign of the transaction on my Ticker (nothing reported at all on volume and trades). What gives? My real time quote on Green line says a bid and ask of .17 yet Stock Watch says .165-.175.
I am trusting AFTN makes it to the TSE so this will be less of a issue long term. Thanks for your input in advance.

PS. Almost forgot, for a stock with 74M shares, it sure isn't very active. Do you think we will see much of a gain with that many shareholders.



To: David Michaud who wrote (8)3/2/1999 1:08:00 PM
From: DaveU  Respond to of 60
 
David,
Just got off the phone with Green Line and they verified their Real Time quote system has a problem with rounding on (some?) OTC stocks.
Problem with the ATFN quote was it was rounding up and down (no constant here) to show the bid and ask at .17 - .17 Now if I had been wanting to sell some AFTN and looked at their quote I could have been selling at .005 below what the market maker was asking (think he would honor his bid, ya right). Maybe that is why I've seen sells below the bid at different times (speculation). Without Stock Watch I never would have questioned their accuracy. It really sucks that they could Know they have such a problem and have not fixed it!! One that is costing their customers money (3% possibly in a sell transaction, X% in lost opportunity in a buy transaction with unfilled orders)!



To: David Michaud who wrote (8)3/2/1999 1:38:00 PM
From: DaveU  Read Replies (2) | Respond to of 60
 
David,
Seem to be answering some of my own questions as I follow through on learning about the OTC market. A kind lady called me back from the Dealing network and indicated that only Ontario based brokerages have to report their sells (interesting). I guess some of those sells just didn't get reported.. I wonder how you police such an informal system. Seems like a lot of latitude for the Market Maker!
DaveU in Vancouver.