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Monday, July 06, 2015 10:04:01 AM
Opened FLAT on very little volume and is slo-mode trading again as of now looks like:
0.0055 / 0.0059 (11870 x 20000)
That's about $65 bucks worth left showing presently at .0055 on the Level II Bid and then all low .005's below it, and BMAK has moved all the way down to .0049 on the Bid with their usual 10K support block.
So it appears BMAK for now is not running any blocking or support to keep the MM's from going for the big chunks in the low .005s (as they've were doing for the past several weeks from what I observed)- so that leaves a falling Big wide open IMO
ETRF is back showing on the Bid with that 1 million share block at .005 and a few other chunks are showing at .0051 w/ two other MM's and that's it
Looks to me like these MM's may take it down today and make a go at those big blocks in the low .005's range of the weakening Bid and finally get to the ETRF (MM for E-trade) 1 million share block that's been showing up off and on for the past several weeks
I don't see any sign of any real buying interest or anything showing even a remote indicator of this reversing or having any upside pressure here that I can see. Looks loaded all to the down-side again IMO. Weak.
Oh, updated- looks like ole CDEL (BMAK and CDEL two peas in a pod IMO) looks like they just jumped on that Bid with the "supporting block" at .0054 so it looks like ole BMAK/CDEL doing the tag team "brackets" to hold it between .0054 and .0059, at least for now. Meaning they're not going to let the other MM's have a "go" yet at the big blocks in the low .005's, they're still apparently holding it in the range they want to "do what they do" either for themselves or whatever firm (Magna?) they're unloading or buying their shares for IMO
My .0055 or so cents worth
Posts contain only my amateur opinions, personal views and thoughts. I discuss stocks as a hobby only. Always do one's own due diligence before investing.
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