Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
brian, what's the site that reports daily short volume. I went to FINRA and looked up the last 5 days and cannot seem to find CAVR. I must be looking in the wrong place since the claims are there are millions an millions of shorts and that the MM's shorted 2 million on Friday. I can't find that info. Thanks.
UBSS still has his bid in for 600K @.03
Yep, also notice that UBSS now has orders for 123K @.05
absolutely correct. He was not filled by retail.
ETMM managed to get all 563K at .049
ETMM is taking in shares at his bid of .049
ETMM down to 312K on the bid at .049
brian, how about "don't settle for less that .50 to a buck. Yeh!
Level 2 E*trade Pro shows ETMM on the bid for 563,000 at .049
ETMM looking for 563,000 shares at .049.
At least they are painting the tape with 5K buys not 100 share buys like yesterday.
Do you have a free trading account. Normal commission is more than value of trade.
All these small lots are coming from NITE.
Here comes the 100 share nonsense again. Gotta laugh.
NITE seems to be following the rules.
Pretty ridiculous spread....035-.044
todaybrian, on E*trade pro they only allow you to use AUTO for online order entry. He now shows 80K @ .05.
There was no ask at .044 for 100K shares but they just traded. We are not seeing the full picture with these MM's, but we already knew that. SEC rules are not being followed by these pinky MMs.
Trade went in at 11:03, has not shown up. I don't think it will.
I'm going to put in a sell for 100,000 shares at .10...lets see if it shows up.
NITE has 120K for sale at .0449. Maybe one of these shorts will jump in and pick them up.
MM's covering 100 shares at a time...LOL
As I have mentioned before the SEC could care less about pink stocks. The SEC does not have enough staff to monitor these guys so they continue to break what rules apply to them, even though many of the SEC rules do not apply to pinky's. I am not sure reporting them would do any good but it certainly won't hurt. Here's the link:
https://denebleo.sec.gov/TCRExternal/questionaire.xhtml
Welcome Todaybrian...you bring a lot of Pink sheet savvy to the market for those, like me, that have not really dabbled in the pinkies that much. Although I did very well in today's trading. Made a few grand, just a small portion of what I made in AAPL options today.
You're right, I read the link but missed it. There seems to be lot's of controversy over what rules and regulations actually apply to pink sheet stocks.
todaybrian,
I can't find anything that says the uptick rule applies to Pink sheet stocks. In fact most of the info I have found states that very few SEC Rules apply to Pink Sheet stocks. The one that has been touted here for days now about MM's having to cover has been around for 5 years according to this site:
http://www.otcmarkets.com/press-center/release/Regulation-SHO-Threshold-List-for-Pink-Sheet-Stocks-Available-Beginning-July-11th?id=45
Xtremepicks should be prosecuted for that deceptive statement. Any one who watched the tape all day long knows most of that volume was at the bid and sells. That 100 share uptick at 15:41 followed 2 block trades of 290 and 302K at .0373 @15:40 both down ticks at the bid. 2.2 million shares sold at the bid of .03 in just 2 blocks, down ticks.
todaybrian, the uptick rule went out years ago.
todaybrian, I'm still here and just amazed at how the short squeeze took the stock down. I was always under the impression that a short squeeze was supposed to drive a stock up. Guess how many shares I bought this morning at .03 as I took advantage of the SHORT SQUEEZE. I loved it.
Amen!
Has this been posted already?
New FINRA rules
Of the 3 new rules kicking in on Monday 5/9/11 FINRA 6460 is the one to concentrate on. My legal buddies are referring to it as the “new leap frog rule”. MMs now have to show the full size of any orders that are the high bid or low offer. Before they could hide a large buy order by only showing 5,000 shares of it which was and is the minimum for penny stocks. The key concept here is “forced transparency”. From now on if a “whale” shows a bid for 10 million shares of XXX and it is higher than the previous bid then the MM must either reflect it or jump it by a notch to hide it. The “whale” would then need to jump it to get it to be the high bid. Hence the term leap frog.
If an abusive MM with an enormous preexisting naked short position puts in a large offer to scare buyers aware then he has to place it below the former offer and he’s going to have to honor that sale if the “whale” chooses to take him out. The “whales” are going to get pretty ticked off if the MM representing his order fraudulently makes him pay higher because of his antics needing to be performed to hide the large order. This might violate the “best execution rule” (NASD 2320) wherein a broker has a formal “duty” to find the best market to aim an order towards.
“Whales” want to buy size but a crooked MM sitting on a monstrous naked short position with the fear that XXX just might “have the goods” does not want to sell size. He just wants to fraudulently induce selling and dissuade buying. A variety of the “3Ms” (“market maker manipulations”) are going to be rendered moot. As you can well imagine, a crime as obvious as selling nonexistent shares all day long while pretending to be “injecting liquidity” needs to be done in an environment with no transparency. “Leap frogging” is going to look very, very obvious on a time and sales sheet! There is no better disinfectant than the light of day.
6460. Display of Customer Limit Orders
This version of the rule (or interpretive material) does not become effective until May 9 2011.
(a) Each OTC Market Maker displaying a priced quotation in any OTC Equity Security in an inter-dealer quotation system shall publish immediately a bid or offer that reflects:
(1) The price and the full size of each customer limit order held by the OTC Market Maker that is at a price that would improve the bid or offer of such OTC Market Maker in such security; and
(2) The full size of each customer limit order held by the OTC Market Maker that:
(A) Is priced equal to the bid or offer of such OTC Market Maker for such security;
(B) Is priced equal to the best bid or best offer of the inter-dealer quotation system in which the OTC Market Maker is quoting; and
(C) Represents more than a de minimis change in relation to the size associated with the OTC Market Maker's bid or offer.
(b) The requirements in paragraph (a) of this Rule shall not apply to any customer limit order:
(1) That is executed upon receipt of the order.
(2) That is placed by a customer who expressly requests, either at the time that the order is placed or prior thereto pursuant to an individually negotiated agreement with respect to such customer's orders, that the order not be displayed.
(3) That is an odd-lot order.
(4) That is a block size order, unless a customer placing such order requests that the order be displayed.
(5) That is delivered immediately upon receipt to a national securities exchange or an electronic communications network that widely disseminates such order and that complies with paragraph (c) below with respect to that order.
(6) That is delivered immediately upon receipt to another OTC Market Maker that complies with the requirements of this Rule with respect to that order.
(7) That is an all-or-none order.
(8) That is priced less than $0.0001 per share.
(c) The electronic communications network:
(1) Provides to a national securities exchange, national securities association or inter-dealer quotation system the prices and sizes of the orders at the highest buy price and the lowest sell price for such security entered in, and widely disseminated by, the electronic communications network; and
(2) Provides, to any broker or dealer, the ability to effect a transaction with a priced order widely disseminated by the electronic communications network entered therein by an OTC market maker that is:
(A) Equivalent to the ability of any broker or dealer to effect a transaction with an OTC market maker pursuant to the rules of the applicable national securities exchange, national securities association or inter-dealer quotation system to which the electronic communications network supplies such bids and offers; and
(B) At the price of the highest priced buy order or lowest priced sell order, or better, for the lesser of the cumulative size of such priced orders entered therein by OTC market makers at such price, or the size of the execution sought by the broker or dealer, for such security.
(d) Definitions
For purposes of this Rule, the following definitions shall apply:
(1) Best bid and best offer mean the highest priced bid and the lowest priced offer.
(2) Block size with respect to an order means it is of at least 10,000 shares and has a market value of at least $100,000.
(3) Customer limit order means an order to buy or sell an OTC Equity Security at a specified price that is not for the account of either a broker or dealer; provided, however, that the term customer limit order shall include an order transmitted by a broker or dealer on behalf of a customer.
http://agoracom.com/ir/ECU/forums/discussion/topics/483207-new-finra-rules/messages/1551535
800 shares @.041....105 shares @.05 MM's talking to each other in market speak???
jaws123, can you spell "Sleazy MM's" LOL
todaybrian, Looks like some one is feeling sorry for the MM's who are short this stock. They just sold them 85,000 at the bid of .046. If this keeps up the short squeeze will run the stock back down to .04. Ah yes a bit of sarcasm.
I have no agenda. The stock was recommended to me by a long time investor friend a while back. I researched the stock, liked what I saw and took a substantial position. I have even added to my original purchase. I like the long term potential.
What bothers me is all the talk about huge short position and massive short squeeze coming. I don't buy into that. I think the stock will do very well on it's own merits. I don't believe the SEC has enough employees to monitor 6000 pink stocks to make sure that the sleezy MM's dealing in these stocks play by the new rules.
I also believe the official OTCBB short interest reports.
As I said yesterday and will repeat here. Any firm hired to push a stock can, if it chooses, run the price up (especially on penny stocks) to justify their predictions. I don't follow Xtremepicks and have no idea what their track record is on every stock they push.
As a rule I don't play the pinky penny market and am only here because of my friends recommendation. Most of my risk capital is used to trade options on AAPL, GOOG, NFLX and SU.
pxquitar you do know that any promotional site is capable of driving penny stocks up with very little capital investment. At .01 cents you can buy a million shares for 10K. Commit 100K to any stock, buy 5000 or 10,000 share blocks at the ask and watch it sky rocket. Then promote it and pump it and start bailing at the higher prices...done all the time. It does not have to be shorts covering, the pumpers can do it all by themselves...and they do. Object of the game, be on the right side of the pump.
I happen to believe that CAVR is a good long term play and they do not need investment pumpers to prop up the price.
pxquitar, really?? short squeeze?? 500,000 shares traded down .001. Was actually more like .003 if you disregard that ridiculous 100 share trade at the close. 140,000 shares sold in two blocks just before the close at .0463.... Does that really look like a short squeeze to you.
I repeat there is no investor short interest in this stock period, and IMHO there are no MM's short either. The stock will rise on it's own merits if the company delivers not on an assumption that MM's are actually short the stock and are going to have to buy RETAIL to replace their position. They simply trade back and forth which does not drive the stock up. As has as already been reported here they have 20 or so tools to use to keep from getting squeezed.
savy1, it looks like the computer that drives E*trade pro considers the ask to be that price which has the most shares offered, even if there is an offer below that price. I looked earlier and 3 MM's were at .05 with a total of 108K shares offered. But ETMM had 50K at .049. A trade went off at .049, clearly the ask, and e*trade marked it as a down tick. I see the last 3 trades...at the same .049 price, are marked with an uptick because the .049 price had the highest number of shares on the offer.
You are correct when a trade goes off at the ask it should be considered a buy.