An interesting sideshow - I have been watching for a couple of weeks now at what appears to either be a scalping like algo operation or a canny individual scalper running on AJX and a number of other of the more high profile smaller caps like A2M etc.
Look down the AJX bids and you will see a parcel of 1935 shares at each price interval starting around a cent below the current bid and always sitting at the bottom of the bid prices at each price step. It seems it is waiting for the periodic dumps to pick up small parcels.
The shares then go back on the market again in 1935 or 3870 parcels, I guess picking up a cent or two during the intraday swings. This operation is also going on with other stocks and but at slightly different parcels sizes I guess which are related to the overlall liquidity of the particular stock.
Probably pickng $200 or $300 per day per stock. Looks like a tortoise and hare operation with the tortoise probably doing ok with very little outlay at any given point, maybe a just a few $K at risk per stock. Must be a very patient individual or more likely an algo running across multiple stocks and not attracting much attention.
