The buyers at 3.38 and 3.35 have placed their orders so high because they want to buy their own stock which they are now selling at 2.77 and 2 94. This way no one interrupts what they are trying to do.
The above quote was from Possum. I wanted to know how he knew the owners of the 3.38/3.35 and 2.77/2.94 were the same. Thought he might have more info available to him than what I get. I'm with Belldirect.
The placement of high buy orders/low sell orders in the Pre Market Opening and the Closing Share Price Auction at the end of the day is to obtaining priority when the market opens/closes - nothing more. The thing is to look at the indicative price where it will open/close - not how high/low the orders are. Yes some funny games happen during this process. Yes the market is full of people trying to make a quick $$$ by any means. Cheers and thanks for chatting.
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