I'm with Kesmet.
This stock is being almost exclusively day traded. The big buy orders from this morning are now up for sale at 0.385 and above in the hope of making a couple of cents on a large parcel.
Most of them will be reading this posting right now. Hello guys and girls.
If you want to 'burn them' then you should wish for a massive drop in the SP (so they lose a ton of money having to sell at lower than they bought for) or a 3 day trading halt (now that would be very, very funny). If the stock runs up today they won't get burned, they'll make a lot of money, which just reinforces the strategy works.
If we don't see a run today, we'll see some dumping pre-close from any DTs who do not want to hold overnight.
Presumably the buy orders at 0.37, 0.365 and 0.36 are genuine? Or are they props? Same argument, different side of the order book.
The lines of exactly 1m yesterday looked like some idiot playing silly buggers by putting in sell orders which took the totals to exactly 1m. As new sell orders came in, the orders were adjusted to bring the amount back down to 1m again. I don't think this is manipulation or capping, it's just juvenile. Had the stock run up, these would have been pulled in a heartbeat.
I'm always happy to agree to disagree on this point because there are conflicting views. There is some manipulation of the SP going on, but I don't think it's anywhere near as much as you might think.
Add to My Watchlist
What is My Watchlist?