IR for Investors

[LCLiving]

For the last couple of days I tried selling some stock I own in a pinksheet company. The MM would not reflect my ask which was lower than the one shown. I called Ameritrade and they said they would ask the MM to reflect it. The MM refused because it was for 50k and they only reflect trades of 5k. I asked Ameritrade to change to another MM and they said they couldn't. I asked if they were representing me or not and they said it is just the way the pinks work. I asked them how can I sell a stock if the price is not advertised? I also asked why I should have to list my stock in 5k increments and pay 10 transaction fees? They said it wasn't fair but that there was nothing more that they can do.

This represents another example of how MMs steal money from us. They can force you to sell at the bid or wait until there is enough volume that they need your shares. This particular stock has a wide spread so they will continue to buy low and sell high and by-pass my order til I get frustrated enough to hit the bid.

I'm not sure what the answer is but MMs need to go. We are in the electronic age so we should be able to by-pass these middle men that rob and pillage the markets by going to an auction type set-up where it is just true buyers and sellers that actually have the shares in their accounts.