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A technical question or two

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April 03, 2012 – Comments (2) | RELATED TICKERS: ALXDF

I placed two orders for Alexandria Minerals (ALXDF on the Pink Sheets), in two separate accounts, with two different brokerages, one with a limit of $0.0950, the other with a limit $0.0965, both around 1:00PM EDT. When I checked on them this evening, neither had gone through, and meanwhile the quoted price of the stock leapfrogged my orders downward to $0.0910 shortly after I entered the orders. There was volume today of 5,500 shares, which is less than either of my orders, but I did not put an AON on either. (I don't think my brokers would let me, anyway.) So I have two questions:

Did someone buy ALXDF for $0.0910 after I put my order in for a higher limit price?

And if so, how does that happen? Where is the justice? What's going on?

 

2 Comments – Post Your Own

#1) On April 03, 2012 at 7:13 PM, kdakota630 (29.46) wrote:

Funny, because I had nearly the same thing happen to me, and even with the same company.

I called iTrade (my broker in Canada) and they told me that especially because it's so thinly traded, that there just weren't shares available at that price.  Now in my case my price was set at $0.10 and it sat there for a few hours without kicking in.  

It could be the same situation in your case, although I don't know what to say when the price went below your set limit as mine was at my limit. 

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#2) On April 11, 2012 at 11:48 PM, FleaBagger (29.21) wrote:

I knew it was thinly traded, with less than $1,000 worth of shares changing hands in a typical day, but it seemed to me the price dropped below my limit buy, and it said the order was still open, which made me leery. I got busy with other things over the past few days, but when I got on and checked today, it seems my order went through at some point: $0.935. Ftw.

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