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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket. -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (755)	5/28/1999 1:04:00 AM
From: James F. Hopkins	Respond to of 2103

Les; I down loaded the whole mess, even the fully executed order, but he told me of some rule, and said it was the market makers doing not theirs, said the qqq never traded at 100 1/2..but I have the quotes..and all, what I think happened is the Market Makers ( shorted to me, letting me cover them thinking she was going to fall some more, but when it didn't they said NO trade. It's with the damm market makers and there is a clause that lets them get away with it, as long as they don't show trades that low, he said a lot of people thought they had bought the qqq at 100-1/2 and it just never traded that low..( on an outside bid ).. and sure enough there is no quote server now showing 100-1/2 as the low..I have a print out of mine showing it at the time..but that's all been undone now. --------------- No arguing I could do did any good, and what can you do over a couple hundred..I mean the hassle is not worth the money but it's the idea of it, that and being short and not knowing it because it was reported covered.. --------------- It's the nasdaq market makers, they work out of a short position, but don't have to honor their shorts if it don't go below what they shorted at.. ----------------- Well I give the guy I talked to credit, he called every body and their brothers and stayed on the phone with me two hours.. as I wanted to at least get an idea of how this crap worked ( it happens more than most people think ) but it never caught me before, & I check my order status more than most..actully I was going to do a change and replace and take 100-3/4 when I saw it had filled. ( but it didn't fill ..& they can take them back if it don't actually retail at that price , ) ---------------- And sure enough no server is now showing a 100-1/2 sale the low for the day is officially 100-3/4 ...I got an inside trade by a shit who shorted to me..and being it never retailed they get to kill the trade. He even told me the rule number. ---------------- Well I pumped his brain for $200 worth <G> and found out some other stuff I didn't know about taht I think will save me more than that going forward.. BTW they can only undo limit orders, ( if the stock don't retail at that price ) however if it is a market order that reports filled they can not undo it. ---------------- It's something to look out for.. more L8r Jim