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Hey folks, I've been paper trading an experimental portfolio of 20 teeny-tiny micro-penny stocks as close to .0001 per share as possible. ....-just been watching them for the last month. Most of them just sit there .... they don't really go any where (except for USXP!) -anyway, my question. What If I wanted to cash out this portfolio and tried to sell the shares that are sitting at a bid of .0001. What happens if the MM's don't fill the order? I mean ... Let's say I bought 1,000,000 shares of WXYZ at .0001 - It never goes anywhere. A month later I try to sell out of it at .0001 and my GTC order just sits ther for weeks. Is it because some of these stock are trading below .0001? What If one were to switch their Limit order to a Market order for this? Like - "Sell 1,000,000 shares of WXYZ at Market". Would the MM's screw you? I can understand it if the displayed bid price is at .0000 ... But what if the bid is at .0001 and the volume is there to move the shares? Wouldn't the MM's have to fill the order? Before I settle the results of my silly experiment I need to have an idea of what would take place here. Thanks, in advance, for your input. -Stinky
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Can only tell ya what I've seen...After GVRP's 1:3m f/s, traders (with brokers that actually *delivered* the f/s shares) who had 50 shares on Friday then had 150,000,000 on Monday morning.
Some were frantic to sell (for reasons to complex to explain here); even though the quote showed a bid of .0001, market orders were going through at .00002--still a significant profit, but not as large as for those who sold with limit orders at .0001. So, yes, 5-place orders can go through...
MMs have to fill the order? I guess it depends on your place in line...
1) is it really trading?
2) do you see sells going through?
If I were you, I'd give a shout-out to Stockhunter... others may know, of course, but I think he would for sure.
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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