Theo's Poolside Discussion of Trading Delights and Disasters (BYOB)

[Wayne R]

OK, let talk about mytrack and Herzog autofills.

At some point they made some sort of agreement so that if the ask size was 2500, a client could buy 2500 shares immediately, then herzog would try to cover the sale in some way.

This worked real good for a bunch of people with a forward split, forget the ratio. Anyway herzog was on autofill for 100 shares at 10 bucks.

Got it over 3 accounts and sold the next day for a net gain of around 100K.

Anyway, that's not what I wanted to talk about, what I wanted to talk about is the day Herzog's computer was upside down.

At market open I get a notification that I've sold some POS. Weird, I had that up for sale forever with no real hope of ever getting out.

So I check it out. Seems the sell was autofilled at the ask.

hmmm, sent in a test trade to buy at the bid a stock. Autofilled.

Let everyone I knew that Herzog's computer was upside down and went mental buying at the bid and selling at the ask, autofills.

Mytrack tried to cancel some trades claiming that I had to buy at the ask and sell at the bid. NO, I CAN BUY AT WHATEVER PRICE I DECIDE AND SELL AT WHATEVER PRICE I DECIDE, if I'm lucky.

Oh geez, now I'm thinking about the day NASDQ died. Pewturs went down or something and all volume got routed to Island. I played catch, 10 dollar stocks for 2 bucks....