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Only problem is, too many people are selling their shares into the MM's instead of waiting. Any flippers out there aren't waiting.
Unless they are a market maker, then they can naked short the shit out of the shares.
The 20 mil bid at .0009 is market makers. That is the floor they have set for now, so they stack bids up on the bottom end.
It went up to 15 this morning, then got undercut by a MM to 12 immediately after. With a 22 Million share price floor though, hopefully we see it start to push back up.
Any questions now?
There are some that say the ability of market makers to naked short shares "for market making" is killing penny stocks. The idea is that there are supposed to be a limited amount of shares, which drives demand up and subsequently the price. However, with the ability to naked short shares (which I imagine computers were initially just programmed for the algorithms) market makers are able to sell shares at a higher price, that they don't own and make their money on the spread down. They are required to provide the best possible market, but they also are required by law to cover shares sold short. So, if a market maker sells shares short, then they WILL try to naked short so that they may cover their position (if, at this point they are still allowed). If they weren't able to do this, then the price would not be pushed down so often, and runs might even continue longer as free trade took place, and the market maker that just shorted his position will have to pay a higher price to cover the call and enact the natural course of a short squeeze. So when I do see a HUGE number/percentage of shares sold short, then there is also reason to keep in mind there is still the possibility of a short squeeze.
Ohhhh. I understand now. Hell yes he was right. But I think there could have been good cause for dilution, if the company is getting these contracts and has an emergent need for some liquidity to begin new projects and ensure ongoing operations until revenue builds. I apologize, I thought you were expecting more dilution right now because the statement he said then. Completely misunderstood.
I am talking about the shares being sold on the FINRA numbers still count those done by MM's. However, if you see that an incredibly low amount of shares have been sold short in general, then you are probably in line soon for an increase in pps because even the MM's couldn't make their money on the spread, so it wasn't shorted. Short squeezes can happen, especially with significant failures to deliver. This usually happens accidentally (especially with automated systems). It does not happen often, and since there haven't been significant failures to deliver, or any elevated levels of short interest I do not suspect a short squeeze with LATF at the moment. In fact, just the opposite. There is a relatively low amount of shares sold short over the day today, so I expect that we might have hit the lowest price for the rest of the week, and the B/S ratio was increasing today as well that could signal a turnaround.
Oh my god! I am not saying I would short sell these stocks, of course that would be absolutely ridiculous (I already know the fees on some of it). I am saying market makers can, and market makers can also are legally allowed to naked short a stock [in their market making responsibilities], until they have had significant failures to deliver. Once that occurs, then the market maker is required to verify physical shares. So the fact that NITE has an article published saying that they were in trouble for improper verification means they have already been in trouble for significant failures to deliver. Which means they can and do short sell these stocks! Ask Janice Shell. I would ask again that you not put words in my mouth. I did not say ever it was a good idea for you to short the stock personally, but for market makers it is. They still make money as well on the spread. Actually, better yet, read this:
http://www.investopedia.com/university/electronictrading/trading3.asp
Please research a little better for a better understanding.
Doesn't it just say they didn't call to do proper verifications? So that would make sense. The computer set to make the most money would buy, sell, and short to make the most money. It is not illegal to short the shares. The automated systems might have just ran a bit too fast. LOL
LMAO! That would be interesting.
Okay, so we know that NITE didn't get busted for shorting, but rather shorting without confirmation of shares. So we know NITE is able to short on OTC Markets. And as to why would anybody want to short this: the same reason everybody buys pennies to flip anyways. With just a small change in price they can easily make a 10-20% gain within seconds. Why wouldn't you sell a stock short if you think it is overpriced and you can repay shares for less? Unless you don't like money.
That post was 30Sep. How does that have relevance on the stock 17 days later? Better yet, why are you saying more dilution is coming now?
I am by no means saying that is at all easy to short these shares, or that you could find anybody that would allow you to with them. However, it is possible for retail investors to do it. Just extremely improbable. Market makers are an entirely different story.
How is this a meaningless press release, if it is something that is going to provide new up front and ongoing revenue (service agreement) to the company?
Hoping for premarket!
I am talking about even market makers not playing games also indicates they don't want to take the risk of losing it if they short sell with only 24 hours to cover. I am not speaking specifically of retail investors. The numbers can indicate many things Peggy, you just have to think from many different angles, instead of one track into it.
You can still check the finra numbers daily, just in case maybe there is an incredibly low amount of shorts. That could mean that the stock is expected to push up by the majority of people trading in it.
only problem with short report is it shows only shares sold, not if those positions were covered or not.
The last minutes were MM games. I thought they wanted this to close with a moderate gain. This looks like a prime for a great run for tomorrow, if it follows prior patterns in stock price/volume. This really looks good for tomorrow, and if they put out news that actually shows change in acquisition or sales intents or product launch, then we can expect that higher run.
We have already been over this, haven't we? That news shouldn't have made it skyrocket.
Why is everybody so quiet on this board today?
I retract my prior statement. The floor is twice the size of the ceiling. We might still see a higher close!
It really looks like a close of .001 today. MM's got it locked up pretty well from either direction. We have to see what everybody wants in this last hour! I am betting on (and hoping for) more signs of accumulation.
NITE building the ask up AGAIN...
If we can burn through these 11's I think we still have a good chance of hitting 13 today.
.25? I think that is very optimistic. I would understand the hope for .0025, but do you mind sharing with me why so high?
Oh, and CDEL plays their part as well, but they are overshadowed by NITE's plays and wild changes in bids/ask.
Actually, I am wondering if they are trying to keep the stock from running too much today, because you know tomorrow would probably see a large downturn (which everybody expects, so they will cause it themselves). If today's gains are modest, based on some of this stock's history, there is a better chance of another run in the second day.
10 Mil dump/dilution just now. That hurt. Don't worry though, L2's still looking nice.
Gotta burn off NITE's shares, as usual, to see this stock move.
I think a few mill of a slap into the ask and we could see it thinned out to 13's. So if we get that EOD rush, and have a nice power hour, it is possible to push up to 15's today.
Plenty of time folks, don't get too discouraged. With this volume, and keeping a positive gain, watch for that run tomorrow morning. Market makers look like they are just holding this one in the range they want today, unless more people run this one up.
That would be NITE setting a ceiling now for some reason. Not sure if that is going to stick or not.
Might actually be a turnaround in the chart, buys are coming up sharply.
12's just got beefed up to 5.4 mill on the ask.
Nice pressure building. We might get the EOD run.
Lol. That was interesting. That wasn't really rock solid news, just intent to further acquire assets and possibly selling a subsidiary. What every other holding company pretty much does on a daily basis. Better news will come with a product launch or news of acquisition or sales. I never expected a huge run from that one.
MM's have an easier time of shorting and will do it all within a single trading day and cover their calls within anywhere between seconds and hours.
I am looking at L2 data. Just because there are no asks of .0012, and it skips to .0013 does not mean that NITE won't undercut and set an ask order at .0001. That's what brought the price back down. We still have a gap in the 12's, and I think we might see quite a few bid changes in the afternoon.