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Alias Born | 03/07/2014 |
Thursday, October 30, 2014 4:28:02 PM
I don't think any shorts (if they even exist) are in any "panic".
What's real interesting IMO, is looking at the OTC board level II system.
http://www.otcbb.com/asp/Info_Center.asp
At 15:27 Eastern (about 30 minutes to close of market) it posts an 11,998 share trade at .02. (about $240 bucks worth)
Then, it sits parked w/o a single trade until 15:51 Eastern, 9 minutes before market close, when it posts a single, 300 share trade at .0187 to close it down 6%, in the red for end of trading day. 300 shares?
300 X .0187 = $5.61 cents worth. How is that even possible? Someone, Magna, Asher, whoever has a professional trading desk and direct routing to the electronic networks, really, really wants to cap this at about 2 cents right now, in my totally amateur opinion. I mean who can/would post a $5.61 trade through like an E-trade or something when the commission is $9.95 or whatever?
We're supposed to believe that right before close, somebody just had to unload 300 shares of a sub 2 cent stock? Wow? Bizzaro IMO. I don't get it?
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