Fortress Global Enterprises Inc - Class A FTPLF

RE: RE: RE: who are the idiot traders at

[TurtleNamedSam]

Here is a possible scenario:

Suppose you own 101 shares of FTP and decide to sell. You put in a limit order to sell your shares at $32.00. During the course of the day, the bid hits $32 and you sell 100 shares. But no one (including the market maker) is going to buy your 1 share until the bid goes significantly higher than $32. Remember, he has to accumulate a whole bunch of odd lots before he can sell them as a board lot, or he has to find someone who wants to buy 1 share (at a higher than market price) - unlikely.

Late in the afternoon, you have to make a decision. If the bid isn't a lot higher than $32 then you are going to be stuck with 1 share at the close, and will have to pay a commssion to sell thast single share another day. The commission could vary between $28 and
.01 (not a misprint!) depending on your broker. You decide it isn't worthwhile holding.

You modify your previous order so that it becomes a "market" rather than a "limit" order. Your single share immediately sells for a lot less than the last trade and shows up as a trade of 1 share. There is no commission because it is part of the original order. Someone who sees "idiot traders" behind every transaction wonders aloud who would sell 1 share and posts on SH.