Firstly I disagree. Looking at the units on the buy and sell side means nothing. If it makes you feel better I can bid for 5 million at 1 cent to make that equation look good but what does that achieve or mean?
Whoever the genius is that offered stock at 59 and 59.5 has killed the market. When a stock (up until 10.29am) had done a little over half a million shares and you offer 450t in one line and 500t in another (and I'm assuming its the same person because of the timing of the offers) that is DOUBLE the days volume up until that point - You are not going to do anything but force the stock down and from the minute the stock went on that's what happens.
I've said this so many times in the past - get yourself a broker. The money you are costing yourself (and everyone else for that matter) with that sort of operating is frightening and dwarfs the cost of the extra commission for proper operating.
Ted.
IHL Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held