re: "How did I not get filled at 0.33 yet shares just traded at 0.32.."
Theory is that it may have to do with minimum bid size (e.g. 5k). Possibly, because volume is low MM accounts are trading largely unattended, by computer program so it has to hit at size in order to trigger.
I asked a similar question a while back, I wondered why my order didn't show up on lvII (it was an in-between value) and another poster suggested that it wouldn't show up in order book unless it was equal to or greater than minimum bid sizes showing.
I don't have this problem on larger e.g. nas stocks. I can put in an order for 50 or 43 whatver shares and it always tends to show up and fill (if appropriate). I surmise because these are being more actively monitored and MM will exercise at his discretion.
OTC and pinks, sometimes (on really slow ones) you can be at bid and it will still sit there for hours -- unless it is at minimum bid size (here again - probably computer program).
-These remarks are just a theory from observation. Actually I looked around on web and it is really hard to find any detailed info on just what MM do, how they do it. Exactly how the system works... <?>
