Somatic Systems Inc (SMAS)

[Dolly Llama]

I got about 10 million today. Three of today's four trades were mine. On Fidelity you can't trade stocks or set orders online if the pps is .0000. But surprise, surprise, somebody managed to get 1 million today for .0001 at 2:36 Eastern Time, and that pushed the pps up to .0001, so I was able to do some test trades through Fidelity. Have been having some rather extraordinary luck with other trip zero stocks lately, so my account is flush with cash. Years ago I did very well with SMAS, but I was left with a number of shares that didn't sell, including some partially filled orders. Fidelity allows orders for up to 9,999,999 shares per trade, so I decided to replace my partially filled orders and bring them back to 9,999,999. That way if there's ever a miracle and this thing takes off for some reason, I'll only have to pay one commission for each of those orders. So first I put in a buy order for 1 million at .0001 at 3:04 Eastern Time, and it went through. I figured somebody had a sell order in for 1 million, so my broker simply connected the two orders.

But then I put in a buy with order (limit of .0001 with no conditions) at 3:07 for 2,999,999 to bring my old partially filled order up to 9,999,999, and to my surprise it was immediately filled. I wasn't expecting that. I mean, as I understand it, Gray Market trades involve no Market Makers, and require a broker to find a buy and a sell order that match exactly before a trade can be made. So I was a bit surprised to see my order for 2,999,999 go through at all, not to mention immediately.

So then to bring my last remaining partially filled order up to 9,999,999 I put in a buy order at 3:17 for 5,999,959 shares at .0001, and to my greater surprise, it too filled immediately. I mean, I can't believe somebody else just happened to have a sell order waiting for exactly 5,999,959 shares. And I checked my order details, and sure enough, the order was routed through the Market Maker NITE. (Knight) So go figure! Clearly SMAS is not behaving like a text book Gray Market stock. Not sure what this means, but I'm quite intrigued.

Here is a description of how Gray Markets are supposed to work:

http://practicalstockinvesting.com/category/vocabulary/gray-market-trading/