Replies to post #8572 on Petrotech Oil and Gas, Inc. (PTOG)

[Ragin_Cajun]

[maddogs]

Pms are hardly nessesary.. if it cannot be asked on the board, I don't want to be in the stock,, having said that...
6460. Display of Customer Limit Orders....

Read what is required...
read what exceptions there are...

watch L2, know the MMs...

It's not unfair, illegal, rude ect ect, to not disclose amounts on best(bid/ask) in certain circumstances, through certain feeds,
ECMs

"executed" upon receipt of the order(sold bought without posting an ongoing of offer.. the MMs see the order before you(L4 helps), or arrainged trade, sometimes "circular or round trip trading, MMs creating false trades sometimes to induce action/violitility/appearances/settlment between MMs)

(2) That is placed by a customer who expressly requests, either at the time that the order is placed or prior thereto pursuant to an individually negotiated agreement with respect to such customer's orders, that the order not be displayed.
(read "executed")

(3) That is an odd-lot order.
(4) That is a block size order, unless a customer placing such order requests that the order be displayed.
(what other kind of orders are there?)

(5) That is delivered immediately upon receipt to a national securities exchange or an electronic communications network that widely disseminates such order and that complies with paragraph (c) below with respect to that order.(ECMs- read up on whom they are and whom can qualify as)

(6) That is delivered immediately upon receipt to another OTC Market Maker that complies with the requirements of this Rule with respect to that order.
(read "executed")

(7) That is an all-or-none order.

Definitions:
(c) The electronic communications network:
(1) Provides to a national securities exchange, national securities association or inter-dealer quotation system the prices and sizes of the orders at the highest buy price and the lowest sell price for such security entered in, and widely disseminated by, the electronic communications network; and
(2) Provides, to any broker or dealer, the ability to effect a transaction with a priced order widely disseminated by the electronic communications network entered therein by an OTC market maker that is:
(A) Equivalent to the ability of any broker or dealer to effect a transaction with an OTC market maker pursuant to the rules of the applicable national securities exchange, national securities association or inter-dealer quotation system to which the electronic communications network supplies such bids and offers; and
(B) At the price of the highest priced buy order or lowest priced sell order, or better, for the lesser of the cumulative size of such priced orders entered therein by OTC market makers at such price, or the size of the execution sought by the broker or dealer, for such security.
(d) Definitions
For purposes of this Rule, the following definitions shall apply:
(1) Best bid and best offer mean the highest priced bid and the lowest priced offer.
(2) Block size with respect to an order means it is of at least 10,000 shares and has a market value of at least $100,000.
(3) Customer limit order means an order to buy or sell an OTC Equity Security at a specified price that is not for the account of either a broker or dealer; provided, however, that the term customer limit order shall include an order transmitted by a broker or dealer on behalf of a customer.

"Keep in mind that I understand the way we buy at ask and sell at bid. I also understand that MM's buy at bid and sell at ask. Just want to see how would I read a large size order on L2".

MM's don't nesessarily have to buy at bid and sell at ask, going by some rules, in some stocks, MMs can in effect be anyone with volume.. your order, is essentially, making market. The "MMs are messin with us" statements , are about FEEDS, avenues as it were, sources, for Dealers, Brokers, Brokerage houses..... and retail.

"Just trying to understand how to read the available shars when I am looking at l2 now".....

Most retail look at L2 with a wary eye, make judgements on experience, have requirements from personel experience. Since there is no replacement for experience in a business involving lack of transparency, understanding can be a learning experience.