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Rosetta Genomics, Ltd. Message Board

  • non.sequitor non.sequitor Jan 18, 2013 4:42 PM Flag

    Have to mention this

    I had 5,000 shares for sale since 3.56pm. At that time the current price was $3.56. I put in a plain GTC order, no conditions, limit at 4.60. They closed it at 4.62 at 4pm. My order did not get executed.
    How is that possible ?

    A Market Maker simply picked the price they wanted to close it at, 4.62 it seems, they then find a sell order at 4.62 and match their buy exactly with that sell, allowing this trade to jump in front of other orders, like mine at 4.60. Exactly matching orders take precedence over all others on NASDAQ. This is legal if you read the NASDAQ order flow documents.

    I bring this to your attention for when you get around to selling. Don't be surprised if you get your price but don't actually get executed, especially if you have a large order. My advice is to break up your shares into 1,000 share lots and bleed out at various prices around your target. Putting in a sell order for 5,000 or 10,000 shares or more may not get executed unless you're standing in front of a buying freight train.

    Sentiment: Strong Buy

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    • Simple solution. If you have an order in and it is passed up for trade, call your broker. That simple.

      I have had some problems with trades in the past and called Etrade and they bought the shares. It is the brokers responsibility to see that you are happy. In some cases they are holding the same symbol so they won't even care.

      Doesn't matter if the symbol is AA or ROSG. Tell your broker always. They usually want to know if there are problems, even problems they can't solve or have no responsibility for solving. Just ask them.

      And if your broker doesn't respond to your liking, call another broker and explain the problem and ask if that same situation applies to them.

      Just because you make the trade on the internet doesn't mean that the broker doesn't have any responsibility.

      • 1 Reply to comfortbox
      • Hi Comfortbox,

        I'm complaining less about not getting filled (it closed 2 cents higher than my order - although I did want to free up money for something else next week), and more about the market micro structure that is not well understood and deliberately evasive. Yes, I could tell my broker (FDIC) but would prefer to gather knowledge about how this all works.

        Sentiment: Strong Buy

    • Any stipulation on partial orders? If your sell order was for "all shares" and the buy order was for a smaller amount your sale would not have cleared. How many shares traded at the $4.62 price? I'm not trying to cover for the market maker but sometimes the last trades of the day are transactions to correct earlier trade mistakes or omissions by the mm.

      • 1 Reply to jlfmainst
      • There were only 400 shares total in 2 trades of 200 each at the close . Prior to that, it was 4.57 and less for the 2 minutes before the close. Your 5000 shares at 4.60 was the ask price one second before the close. It was not the ask price at the close, which means is was probable a day trade order and it was removed.

        The 2 trades that took place at 4.62 were reported, one at the close and the other 2 seconds after the close.

        There are at least 3 trading platforms where ROSG is traded and it depends on what method and location your broker or the purchasers broker used to handle the trade.

        Now days the Nasdaq rules regarding priority are very very "complicated". The market makers can legally #$%$ many different ways and even if it is not a legal way there is nothing much you can do about it.

        Your broker may get the market maker to honor a trade if they want to bother with it. In most cases your broker will not want to brother with it unless they are a small company that wants to keep your business.

    • So, let me get this straight. The stock closed at a higher price and you've still got a bunch of shares. Geez, I wish I had that problem.

    • The stock market is the most corrupt, dishonest institution on Earth. When "THEY" want ROSG to go up then it will.

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