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This LONG explanation of T trade differs from your view. That the T trade needs to be included in total volume as these trades are done throughout the day but not reported until EOD.
cheers
Incredible Penny Stocks: What is a Form T-Trade?
There is much confusion and rumor regarding “T Trades” in the penny stock market. Nasdaq Pink Sheet stocks often close at a certain price and, within 3-10 minutes after the closing bell, will show a large final trade that gets labeled as an “after hours” trade. Simply put, this is an inaccurate description of that trade.
To understand how this trade works, one must understand the role of the market maker. The most frustrating aspect of investing in the pennies, is market maker manipulation of the stock price. Anyone that claims this manipulation doesn’t happen truly does not understand the OTC Market. Market makers are in place to “control” the price of a stock and, theoretically, to ensure that the market reacts properly to supply and demand for a certain stock. Unfortunately, when large sums of money and a lack of regulation are involved, more often than not, there is manipulation that suits the needs of certain investors or the market makers themselves. After all, they are in business to make money as well. If the average investor is purchasing stocks in the OTC Market, that investor is truly at the mercy of the market makers involved in the purchase and sale of that security.
When researching this article, The response from the SEC defined a “Form T Trade” a “trade reporting form used by broker-dealer members of the Financial Industry Regulatory Authority, Inc. (FINRA) to report equity trades executed either in the OTC market or during extended hours trading. Recent amendments to FINRA rules will expand the types of situations in which Form T is to be used, but they are not yet in effect.” The response also recommended contacting FINRA. Notice the first portion of the response. “either in the OTC Market or…” Once again, it is confirmed by the SEC that ”after hours” trades do not exist in the Pinks.
FINRA was much less transparent in their response and essentially spewed the same limited information regarding T Trades that is available on their website. None of which, accurately reflects why these trades occur in the OTC Markets. (http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p123750.pdf)
Trying to decipher the meaning of these trades with the limited information that is available on the subject led down several dark paths. Clearly, the average investor is not meant to understand the concept or its rules. Even more disconcerting is the second part of the SEC message “Recent amendments to FINRA rules will expand the types of situations in which Form T is to be used, but they are not yet in effect.” That means there is even less transparency about this mysterious T Trade.
After months of due diligence, there are a few poorly publicized uses for a T Trade. The most important factor here is that the only requirement of market makers by FINRA is that they must report all trades in a day. They are not required to do so when the actual trade occurs.
To avoid creating “an unbalanced market”, market makers often do not report certain trades during the day to the public and then use a T Trade not to “scare” investors into thinking a market for that stock is going in one direction or the other at the spurring of one large investor.
If a market maker wants to accumulate a large amount of a stock in one trading day, that market maker may actually not report any of the trades that occurred until the trading day has ended so as not to alert the market to the collection. This practice is completely legal under the FINRA rules of the OTC Markets so long as the trade is reported at the end of the day.
To execute a Market on Close” order, a market maker may have an order to purchase the stock at a certain price at the end of the trading day. This is the most unlikely scenario because it needs to be assured that someone selling the stock and someone buying that stock are agreeing upon a price. Simply put, this is more likely with insider buying and selling.
The T Trade that the public sees is nothing more than one or all of the above scenarios. The T Trade reported at the end of the day can be from one market maker or many involved market makers. It can be a single purchase price but is usually an average of all of the previously unreported purchases from that business day.
Actually just the opposite. If your building a multi million share position chasing shares gets expensive in a hurry. Those with deep pockets and a full understanding of where this is going are thankful for cheapies. Personally, pissed like most here.
cheers
120k buy is very nice but the bigger picture says just over
7 MILLION shares bought in last 6 trading days with a .20-.21 average.
cheers
Wall street journal picked up the story from our friends at Rubenstein and published todays release. All this coverage is great but would go farther if we weren't delinquent. I know soon!
cheers
I'm feeling a 10 day walk could be spectacular.
Pink Sheets Level 2 for MRGE
Bandits retreating with some ask slappin'
Bid
07-01 10:15 VERT 2500 0.232
07-01 10:13 GTSM 18050 0.231
07-01 10:22 NITE 31000 0.231
07-01 10:22 CSTI 5000 0.225
07-01 10:22 OTCX 10000 0.22
07-01 10:22 CDEL 65402 0.2175
07-01 10:15 ETRF 5000 0.205
07-01 09:25 PUMA 2500 0.201
07-01 06:14 ASCM 5000 0.145
07-01 06:21 CFGN 5000 0.14
Ask
0.245 5000 OTCX 07-01 10:22
0.249 9000 ETRF 07-01 10:15
0.251 5000 CDEL 07-01 10:22
0.258 2500 PUMA 07-01 09:25
0.2645 2500 ASCM 07-01 06:14
0.2645 2500 GTSM 07-01 10:13
0.2645 2500 CSTI 07-01 10:22
0.30 2500 VERT 07-01 10:15
0.33 2500 CFGN 07-01 06:21
0.33 2500 NITE
Pink Sheets Level 2 for MRGE
07-01 09:30 CSTI 23175 0.215
07-01 09:34 VERT 2500 0.215
07-01 09:30 CDEL 39200 0.21
07-01 09:36 OTCX 10000 0.21
07-01 09:30 GTSM 2500 0.2097
07-01 09:30 ETRF 5000 0.205
07-01 09:25 PUMA 2500 0.201
07-01 06:14 ASCM 5000 0.145
07-01 06:21 CFGN 5000 0.14
07-01 09:30 NITE 5000 0.137
Ask
0.219 5000 OTCX 07-01 09:36
0.249 9000 ETRF 07-01 09:30
0.251 5000 CDEL 07-01 09:30
0.258 2500 PUMA 07-01 09:25
0.2645 2500 ASCM 07-01 06:14
0.2645 2500 GTSM 07-01 09:30
0.2645 2500 CSTI 07-01 09:30
0.30 2500 VERT 07-01 09:34
0.33 2500 CFGN 07-01 06:21
0.33 2500 NITE
Agree these guys rain on the parade..big volume they back off but without they can control things. ugh
Rubenstein released just after close.
thanks for that...Rubenstein's client list are mostly billion dollar companies...a big hmmm to that..smart choice MR. Ward
Rubenstein just put out pr stating Mirage Energy has retained them. Can't figure out how to paste it as it can in word doc.
Will email it out to those that can figure that out or it may appear somewhere on Rubinstein's site.
now that was a good one. disclosure.. yes
Your a few weeks late trying to scalp a few pennies. Your rational/assumptions will likely prove incorrect. With USMC kicking in tomorrow this thing is only going one direction.
Great support at this level and chart confirms higher prices.
cheers
for some reason the link doesn't show them but in email version it does. I forwarded to a couple of guys you know here, maybe they can forward to you.
cheers
Finally somebody that gets it. Too much finger pointing. The pro traders and MM's making a living off of charts and not bullboard chatter. Hopefully they will turn buyers around here.
I would love to answer your question on notes but have zero idea just like the rest of the shareholders. If there's a t trade EOD I guess we get the answer. As another shareholder said this looks more like retail panic. Usually note holders go thru the same MM and they haven't showed on level 2. If your doubting the buying that took us up think again and don't think for one second that they aren't spittin nails BIG TIME.
Your right typical, but hard on the head. It is extremely rare for parabolic moves to keep momentum without continuous news. Basically the buying energy runs out of steam and sellers/traders/shorters then dominate. From overbought then to oversold.
A week today we were at .09, so .26 is fine with me.
cheers
Yes thank you they absolutely did... 21 mil. shares volume and I'm confident half was them accumulating. As for MW and timing, that always has been the wild card.
cheers
They been buying steady. They put the support bids at .30 last 2 days in defense of motivated sellers.
Pink Sheets Level 2 for MRGE
06/23 15:40 CDEL 5200 0.26
06/23 15:39 ETRF 5000 0.255
06/23 15:34 OTCX 5000 0.252
06/23 15:10 CFGN 2500 0.245
06/23 15:27 ASCM 2500 0.243
06/23 15:37 GTSM 12000 0.242
06/23 15:23 CSTI 3000 0.24
06/23 15:34 VERT 2500 0.24
06/23 15:34 NITE 20000 0.24
06/23 15:11 PUMA 2500 0.211
Ask
0.265 2500 VERT 06/23 15:34
0.265 10000 ETRF 06/23 15:39
0.265 7350 CDEL 06/23 15:40
0.273 2500 ASCM 06/23 15:27
0.273 10000 GTSM 06/23 15:37
0.276 10000 NITE 06/23 15:34
0.28 10213 CSTI 06/23 15:23
0.28 10000 OTCX 06/23 15:34
0.321 2500 PUMA 06/23 15:11
0.325 2500 CFGN
OTCX had the wall that stopped the run yesterday..nice to see them at .50 today Looking like quieter day today as we consolidate and churn before next big leg up.
why the rush? a little consolidation here is good, expected and necessary. It needs time to churn a few, base and then resume uptrend. that being said I do expect a bit more buying coming in later in the day.
cheers
that's for sure..some friendly and some not so..Very nice retest of Fridays low, which held nicely.
consolidating gains is just how markets have to work..form a nice base here for the next leg up. there will be lots of new money coming into this on a continuing basis.
Pretty legit..understatement..Most of us have been here for a few years and turned over every rock and pebble. The due diligence of some very smart people have increased everyone's knowledge of these projects that have been years in the making. It's LEGIT.
cheers
Actually the big dogs were VERY interested but Bluebell trumped their offer. It really is that simple.
your right and it really doesn't make a lot of difference.. consolidation here is just fine. I expect similar gains next week though.
cheers
consolidate around here would be fine by me after an exceptional week, then rocket launch next week.
the big money accumulating cares less about todays price. A big block comes up and they can't wait to grab it. flippin amazing to watch.
cheers
Pink Sheets Level 2 for MRGE
IT's changing very fast
06-19 09:55 CSTI 8500 0.401
06-19 09:55 CDEL 86700 0.40
06-19 09:55 CFGN 2500 0.3905
06-19 09:55 GTSM 15000 0.39
06-19 09:55 ETRF 100000 0.39
06-19 09:55 ASCM 2500 0.37
06-19 09:54 NITE 2500 0.35
06-19 09:11 PUMA 2500 0.28
06-19 09:14 VERT 2500 0.25
06-19 09:54 OTCX U
Ask
0.404 2500 ASCM 06-19 09:55
0.404 2500 CFGN 06-19 09:55
0.406 2500 NITE 06-19 09:54
0.41 5000 OTCX 06-19 09:54
0.419 10000 CSTI 06-19 09:55
0.42 10000 ETRF 06-19 09:55
0.423 10000 CDEL 06-19 09:55
0.437 2500 GTSM 06-19 09:55
0.52 1000 PUMA 06-19 09:11
45.00 100 VERT
words of wisdom. thanks. I'm thinkin' those who put up 4 BILLION cash would agree with you.
You are on the right track and CEO Ward is adamant that the top end of your range is in play. serious.
There is one group that is accumulating heavy and has accounted for about half the volume and are only about one third done to get to their desired share count..price now is irrelevant to them. Same group did extremely well on Wards last one that went .05 to $5.
cheers
Yep long wait to be very green again. Funny I still have about 10 mil SFM. shares in my PF worth about 60 bucks last time I looked.
Pink Sheets Level 2 for MRGE
Nice orders still coming.
Bid
06-18 15:09 NITE 147500 0.29
06-18 15:06 CFGN 2500 0.28
06-18 15:06 CDEL 2600 0.28
06-18 15:06 GTSM 15000 0.28
06-18 14:58 ETRF 5000 0.267
06-18 14:05 ASCM 2500 0.263
06-18 13:36 VERT 2500 0.20
06-18 15:09 CSTI 15000 0.18
06-18 15:03 OTCX U
Ask
0.301 20000 NITE 06-18 15:09
0.3033 2500 GTSM 06-18 15:06
0.305 5000 CDEL 06-18 15:06
0.309 2500 ASCM 06-18 14:05
0.309 2500 ETRF 06-18 14:58
0.31 2500 CFGN 06-18 15:06
0.31 2500 CSTI 06-18 15:09
0.32 100000 OTCX 06-18 15:03
0.40 2500 VERT
You think a very reputable company is going to put up 4 BILLION CASH without doing months of DD., including contacting the Secretaries of Energy for Both US and Mexico. They OBVIOUSLY got the green light.
cheers
Go to the intro page here and read about the projects. Annual revenues in the billions of which we net 25% and with zero debt.
cheers
IT hit 2 dollars..I know well as bought my first shares at $1.36.
Averaged down to pennies now though..whew
cheers