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Alias Born | 03/07/2014 |
Tuesday, November 25, 2014 5:12:58 PM
But holy cow it was fugly ugly again today- wild weird.
It sat parked for about 4 hours today- 10:30 AM to 14:30 (2:30 PM) Eastern- essentially no trades looks like. Then it blasted out, looks like about a 1.5 million share trade and then about 1 hour later another 1 million or so, then goes dead, and doesn't trade much of anything, sitting for like 17 minutes into market close, then shows 3 or 4 minutes after close as last trade. OTC pennies don't trade after hours- so I don't know if that was a "clean up" print on the tape from some final trades clearing or what?
So again, it goes from a sluggish AM, flat-lines out for several hours, then ends up blasting through the roof to 3 million plus shares, but the bid and ask barely budge- they end up closing it red, down a few percent? No news, nothing really happening? What the heck was that all just about?
I have a gut feeling there's a lot of shorting in all this somehow and at some point, they (Asher, or my personal feeling this is Magna now) I have a creeping suspicion that at some point coming up, they're gonna bury this like with a shovel, and then use some of those 31 million shares they just got, at what works out to like 6/10ths of one cent, to cover that short when they drive it into the the dirt.
That's just my suspicion and a total guess- no way to prove it and I'm a total amateur at this. But wow, no way IMO this is some Joe Schmoe retail folks all sending in orders from E-Trade or whatever- just no way, no how do I believe that.
This is getting really bizzaro. I don't remember this ever really trading like this. They ran it up on news sometimes, it then sold off sometimes, the late Dec 2013 big sell off was wild- that's as close to this as I can remember. Where they took it to 6/10ths of one cent in a blink, out of the blue.
Who knows where this is going anymore IMO, or who's in the driver's seat of the trades? I don't think a retail buyer/seller has a chance up against whoever is presently playing/working this thing like a well oiled machine.
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