Telkonet Inc (fka TKO)

[reallybadtrader]

Its just a market sell order. The offer will automatically follow the bid down, one tic above the bid.

In less liquid stocks this is why you can see dramatic price fluctuations for no apparent reasons. In TKO for example if you put a 10m share market buy order you would push the price up until you found a seller or enough sellers to take the order out. Same thing on the down side. Market orders are generally not a good idea in illiquid stocks unless you have a smaller order or just want to get out. Having said that, I have used market orders in TKO for up to three thousand shares and have gotten good fills. The specialist does a good job of not punishing market orders.

When you see swings on the open, its from market on open orders. These are dangerous to put in because you have no idea where you are going to filled.