Lehman Brothers Financial SA (LEHNQ)

[zxc]

Here's a tip on how to acquire shares at a price lower than the ask:

Market makers do not display bid or ask values for less than 5000 shares. So, lets say the current bid and ask for a Lehman CT is $0.10/$0.20. If you then placed an order to buy 5000 shares at $0.11, your bid would show up on level 2. However, in order to remove your quote from level 2, the MMs may give you a partial fill of perhaps 200 shares at your price. Your bid of $0.11 for the other 4800 shares would no longer show up. Instead, the $0.10 bid will be shown again and likely will be filled before yours.

So, the trick is to place an order of about 6000 shares or more, mindful of the fact, that in this case, you may only receive 1100 (to bring the order under 5000), or you may have your order filled completely.

The other thing to watch for is the current bid price. Your bid should always be a smidgen above that. That means constantly watching for someone outbidding you and changing your bid accordingly.

This method has worked for me; not always, but enough times to make it worthwhile.

All the best.