Replies to post #36981 on Kraig Biocraft Laboratories Inc (KBLB)

[first mike]

sometimes i just put in a market order and have never been screwed.

Hi Mojo, you must lead a charmed life!
If you look at a detailed intraday chart for KBLB you will often see a very brief spike up of about 10% (~ .005 to .01). If you look at the level 2 trade/time/amount/price streamer you will see this as a sudden small buy 10% above the previous average price, followed by a large buy at that price, followed by a quick return to the previous level.
What you have seen is a market maker picking the pocket of someone who placed a market order.
The MM, seeing a large market order coming, buys 300 shares from one of his clients way above the previous price. This establishes a momentary high "market" price.
The MM then sells 30,000 shares from one of their own accounts to the market order customer!

es1 said:

I could leave my order in if it was a GTC until the run is over and the PPS drops back but my money is locked up and that is not the best time to buy.
So cancle the order.
Your broker charges you the price of a trade...9.99 for 20 shares
Try to change the order and get it filled at .082 and the order you had gets cancled and you get charged 2 times. Either way it is either leave your money locked up or pay.

Hi es1,
I don't like AON orders because they are often hard to fill and can cause you to lose the buy or sell if you are near the high or low for the day. But I see why some people use them to avoid multiple commissions.
Just last week I placed a GTC order to buy 33,000 shares of KBLB @ 0.0815.
On the first day only 5000 shares were filled, on the second day another 15000 were filled in 2 partials of 10000 and 5000. On the third day the remainder filled. I got my stock at a supposed price of .0815, but TDA charged me $30 in commission instead of $10. TDA's rules are that many partial fills on the same day only cost 1 commission, but another $10 commission is charged for ech succeeding day that partial fills happen. An extra $20 may not seem like that much on 33K shares, but it is enough that my actual cost per share was raised by ~.001, so my equivalent price was ~0.0825. Had I placed my limit at 0.0825 my order would have filled on the first day and probably somewhat under my limit price. On the other hand if I had made my order AON at 0.0815 it might have filled on the third day, or more likely it would never have filled.

Mike L.