He said that he was out sick yesterday and that was why he didn't return my call. I gave him all of the details of the bogus trade and he seemed very interested. He too will be researching this and will try and get the erroneous price stricken from the records.
While I was at it, I also told him about 12/17/04 and that the chart services to this day were still showing the low that day as being $21.99 when in fact there were never any legitimate Pfizer trades at any price lower than $23.52. He promised to look into that for me as well.
Between this SEC enforcement officer and my customer rep at TD Ameritrade, I think I may actually be able to get that phony low from Tuesday to disappear.
So far I haven't heard back yet today from the customer rep at TD Ameritrade. I'll call him shortly after the close if he hasn't gotten back to me first.
Here is an excerpt from your post:
A second customer rep at TD Ameritrade will get down to brass tacks on Tuesday
To me, "down to brass tacks" is a stupid expression. Very few people have brass tacks, and why would anyone get down to them? Are they always at the bottom of the box? What the heck does anyone use brass tacks for anyway?
<<ICE happens to be a $4.6B market cap company and it was sporting a cap of as much as $12B at mid-year 2008. Seeing what size it was, I checked this morning to see if it was part of the S & P 500 and believe it or not, IT IS!
So we're not talking about a rinky-dink little exchange here - this is one of the biggest ECN's in the land. And it's the height of lunacy for you or anyone else to believe that an ECN this size would be completely bereft of buy orders for a stock like Pfizer just four seconds before the NYSE open. There would be HUNDREDS - if not THOUSANDS of open orders pouring in - not only from the U.S. but from Europe and Asia as well>>.
That's the difference between you and me. You look at the market cap of ICE and whether it's a member of the S&P 500. I go and read the profile of what it does. Here it is:
If you read it, you will see that ICE is mainly involved in trading futures, commodities and derivative contracts. In the lengthy profile, there is no mention WHATSOEVER that Ice even has an equity ECN. This is a terrific example how you frequently focus on data, but the wrong data. Who cares what the market cap is if the market cap is due to unrelated businesses?
The more I think about it, the more convinced I have become that ECNs do not have liquid markets once the regular session begins, since people just go to the exchange. There will be outlier low-ball bids remaining and some nut or manipulator who puts in a market sell, as somebody did here, will hit that bid. I strongly believe that that is what occurred here.
Your 3rd version of your conversation with the ICE official is inconsistent with the other versions and I do not believe that the ICE official told you that the trade was canceled. Your original version leaves that critical point out and never would have if it occurred, since it would help your position tremendously.
The one good thing that came out of Yahoo revealing my identity was to establish that I simply don't lie and I don't exaggerate.
you're making a complete fool of yourself, here's a clue idiot ***Liars never admit that they Lie***...***LIARS always claim to be telling the TRUTH****...are you really this stupid?...tia I'll wait...
Thank you Hotpanera for clearing things up and bringing out the truth.
He writes to me:
<<Try and understand how Exchanges work for a change instead of just continuing to spout absolute nonsense such as that you think there really was a $13.74 trade. That would have been utterly impossible under the circumstances.>>
You in your post write to him:
<<You also totally misunderstand how an ECN works. People have low-ball bids out there all the time. If somebody stupidly puts in a market order for the regular trading session, if all the real bids went away near the close of the pre-market session the low-ball bid can easily fill precisely at 9:30 since, as you reported, the 100 share sell was a market order. Nothing unusual about that except that the sellet was either dumb, or was willing to get a low price for manipulative purposes. Either is possible, but the trade sounds to have been effected in the manner one would expect when there is a market order and no liquidity.>>
I 'think' I understand how exchanges work. Both before your post and after your post. None the less,You (in the above) very clearly explain it.
And thank you too, for remembering two things I've long thought important to remember when dealing with him: 'mental illness' and 'liar'.
You are lying.
This is what you said originally:
<<When I called the number, I was connected with a guy who sounded like he worked for one of the "Five Families" in New York. He took down all the info that I gave him and even confirmed that the 100-share order did indeed originate with ICE. When I asked him how to correct the records, he started getting very defensive. He asked who I was and when I told him that I was a big private investor in Pfizer, he told me that I had no standing with ICE - that the matter would have to be handled by my broker acting as my agent>>.
No claim there that the ICE official said the trade was "erroneous". You then claimed that in a subsequent post and after I called you on it, you now write this:
<<The ICE told me that the ostensible trade did occur on their electronic exchange Tuesday monrning and that it was erroneous>>
If he had said it was erroneous, you would obviously have said that in your earlier post. I don't believe he said that.
You also totally misunderstand how an ECN works. People have low-ball bids out there all the time. If somebody stupidly puts in a market order for the regular trading session, if all the real bids went away near the close of the pre-market session the low-ball bid can easily fill precisely at 9:30 since, as you reported, the 100 share sell was a market order. Nothing unusual about that except that the sellet was either dumb, or was willing to get a low price for manipulative purposes. Either is possible, but the trade sounds to have been effected in the manner one would expect when there is a market order and no liquidity.
I tried to support your efforts to investigate this. I no longer do because your stubborness has and will trump any attempt to get to the truth. Lying to me is not wise. I caught people in lies for 25 years and many were far better than you.