We present experimental results of the dynamics in a semiconductor laser op
erating on several longitudinal modes subject to external feedback. Both lo
w-frequency fluctuations (LFFs) and locked states are studied through obser
ving the outputs from the dominant mode, all modes except the dominant mode
, and all modes. Synchronized dropout events of LFFs are observed among eac
h of the solitary modes while energy competition and trading occurs among t
hese modes when the total output exhibits the locked state.