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So who are they obligated to fill at the bid? If what you are saying is true then one MM could bid .01 for 100K shares and get them filled regardless of any other bids.
I had bids in for 20K and got no fills even though the stock traded lower. My cost basis for my J's is around .08. Mostly I own the CT's and the PQ's. Paying .16 when the trades are going off under my bid upsets me. Does that surprise you?
I feel the same way though it doesn't change the thievery aspect. Why are they allowed to ignore higher bids? That alone keeps many away from stocks that could make them money in this case. I understand this is the "pinks" but stealing is stealing.
I called my broker today and went emo. I hope they keep this down tomorrow. I want a replay :)
I disagree. If I'm a better bid, I shouldn't have to pay ask when others are selling. Buying the ask is one thing when the spread is tight. It's thievery when the spread is sometimes as much as 50% or more.
I am long trying to add on these dips. I'm not selling. However the chart shouldn't be the MM's domain. If there are buyers and sellers, the stock should go to the highest bidder first. In many cases, this is not the case. If the MM's take the cheap shares for themselves, they are stealing from a legitimate market, not making one, which is their job description imo.
I've been in at .093 and .08 with no fills at all. It's frustrating for those that don't get fills. Especially when someone else gets filled .07!
Bazooka someone just got 13K at .105. If you didn't fill any .11's at all today I'd call my broker.
Good for you Surf but I'm curious how many bids were in today just from posters on this board above .08 that got no fills, not even partials.
ABLE just joined the bid @ .05 and he's now on the ask @ .16. Another trade just went thru at .07 and I have none filled at .08
my order is for 10K and no fill.
Still showing HDSN bid @ .12 too. DOMS is at .07 and he's the only MM on the ask @.17 with my level II
I have an order in at .08 now. It will be interesting to see if I get any shares.
MM's need a swift kick in their keesters for the bid and ask spreads!
I'm surprised no one has posted this today. Buy volume was 3.5 times greater than sells.
http://ih.advfn.com/p.php?pid=trades&cb=1255475389&symbol=TECZ&java_vm=sun&java_vm_ver=1.5.0_10
Coach - I agree with your analysis though I think more are aware of the situation than you realize. All we need is for push to come to shove.
Nice Looks like we could break $1 soon.
Cisckid - I'm not sure of the specific rule but trades of less than 100 shares fall under the "odd lot trade" regs and I'm not sure the MM's are required to print them. Theoretically odd lot trades can be gathered into a round lot and printed as a single trade usually at the end of the day.
It doesn't change the fact that the MM's are being opportunistic with the trades. Try it with a 100 share trade and it should print if you get filled.
Duke - No excuses. Just thought I'd share some information. STXG was on the bid and the ask most of the previous day and yesterday morning.
You could call the company and ask them when the financials will be updated and made public since you feel so strongly about this issue.
Nice to see green today.
Kip - The answer to your first question to me is in the link I posted in my post #5064. Just click on it and scroll down to read the explanation. I can't PM you back since I'm an IHub freeloader.If I have time tonight, I'll look at that other issue.
And thanks for taking over the mod job. You're a brave man. : )
That's typical MM pinksheet trading unfortunately Dilla. Believe me they've pulled every trick in the book on some of my other holdings when volume is low and sometimes even when its not. I've had to call my broker at times to get my buys and sells executed or rectified. Sometimes it works sometimes they give me a runaround. This is the main reason, TECZ needs to get off of the pinks pronto imo.
I don't think its evidence of Path #2 yet (though times a'wastin). Since you are admitting to be a seller, where have you placed your buy orders. You realize they can "skip over" those too, right?
Kip - Just information since STXG is a brand new market maker for otcbb and pink stocks, not just new to TECZ. He did appear to be acting as the "ax" the past couple of days.
http://www.answers.com/topic/ax-investment
Possibly DOMS wants, or "needs" shares. They are still showing his .17 bid. So MM's maybe looking for a capitulation trade to fill them. Either that, or the J's have a large and impatient seller at .20. This is simply silly imo.
Meet TECZ's new MM - STXG. Currently acting as the axe. Somewhere else on IHub I think they are described as a "special situations" trader.
http://www.tradersmagazine.com/news/stockcross-otc-pink-sheets-bulletin-board-hill-thompson-104176-1.html
Ben - Thanks. Let's go TECZ!
Pete - Thanks for the compliment. The only voice I'm speaking with is my own. Whether my thoughts are reasonable versus some of the others remains to be seen. I certainly hope so.
As for the MM's, on the pinks it's very hard to tell. I think much of the recent trading is more related to skittish retail holders and the chaos of trading under the new symbol.
Dilla - Yes. It's very nice to see more future opportunity. I think the serious buyers are waiting to see how it will all be financed. We need the updated financials and more information on the company's ability to fund its future to get some improved marketcap revaluation.
Anyone on the board getting fills at .18?
Picked up a few more J's this morning at .19. This is amazing though. MM's are giving them away and I don't think it will shake out any at this point.
MM's still heavily short? Pushing the J's down.
Duke - It's possible to look at this from both perspectives. You see a scam and encourage people to sell. I assume you're not invested. I see change and potential opportunity down the road. I am not urging people to buy here but to use their own judgment. If you get your .25 shares in the short term, I'll probably be there with you.
"As your Company raises additional capital, management will work to minimize the dilution to our existing shareholders and believes there are financing options available that both meet the Company’s needs and protect our existing stakeholders. While we can not guarantee that we will be successful in consummating any financing, the capital markets have improved substantially from earlier in the year."
Let's see if they follow through on this statement from their recent release.
http://www.technipowersystems.com/images/stories/PDF/shareholderletter92809.pdf
Fivestar - And the same logic would hold true now I believe for lots of reasons.
Rebranding
In March of this year, our shareholders approved changing the name of your company to Technipower Systems, Inc. The “Technipower” name has, for 50 years, stood for products and engineering expertise that provide rugged, reliable power conversion technologies at a competitive price. In adopting this new name, effective today, all of our customers will know us as one company with a stable of technologies and products applicable to the markets we serve. We have already started this rebranding internally and have recently launched our new web site at www.technipowersystems.com.
http://www.technipowersystems.com/images/stories/PDF/shareholderletter92809.pdf
Let me add: Selling shares allows them to raise capital. If the news is positive enough it shouldn't hurt existing shareholders. However your "dumping" comment carries a very different connotation. Then again you need to buy your shares back. : )
Dilla - Your summation of the two roads is very well done. I'm still thinking the #1 road and assuming they wouldn't want to tarnish the new Technipower Systems name so quickly. The next few weeks should tell us something.
Duke - Technically you are correct IF TECZ were to sell all 50M shares at once today or in a very short window of time. Is that what you are telling me they are going to do? I don't know when or how much they will sell at what time or price.
The FEAR of the company selling a large quantity of shares without any other POSITIVE news to support buying is what you are promoting imo with your .20-.25 target here.
And remember, they didn't dump the other 125M at .02 when the AS was 500M, so why would they dump 50M at once now?
Time will tell.
Fivestar - You've been screaming about the debentures for a while and yet you never noted that they didn't MAX out the original 500M AS. Maybe they didn't need to?
"you still believe the R/S was done to benefit you, seriously?"
Not at all. I hope the RS benefits TECZ with its future plans.
Fivestar - you always trade it perfectly. Congratulations! You bought in the .002's and sold at the .028 top. There were others that took profits besides yourself even if we all didn't hit it perfectly. My average sell was around .024 and my basis was .004.
Let me know when you buy those shares back.
N8dogg - We've traded 40K shares with an average slightly over $1. That's maybe $50K in traded dollars. The MM's need shares, shorts need shares and they dropped the stock from $1.00 to .10 because there were no supporting bids in between.
This is currently fear driven trading on low volume with ridiculous spreads. TECZ does need to PR something substantial soon. If they do not, they will lose this opportunity certainly.
Let's hope they've smartened up.
I took some profits as well fivestar as did many I'm sure. Let me know where you load up again. Try to make it a timely post.
Bot @ 1.15 and 1.21. Actual executions were at 1.14 and 1.12. Order in for more at .30. SELL!! : )
Duke - The chances of of this stock getting to $1 from the low of .002 with 375M is rather "pie in the sky" by any standards without a big settlement from TOY. My target was between .10-.20 which I think was a reasonable one, without a RS or big TOY news. I wish they had waited longer to do the RS but I'm not running the company.
The current TECZ marketcap is less than 6M. The stock is down 29% on about $60K in trades. The market had an ugly day and it appears some retail investors sold. Without the RS split, I imagine the stock would have traded down to the .015-.016 level today regardless. Just my perspective on the day.
We need the company to continue the PR flow with something that has more meat than a solar tour announcement certainly.
Oniro - Volume is less than 10K. Hardly qualifies as evidence the company is selling anything.
Everybody needs to relax about the RS. I notice that after the barrage of negative postings earlier by a few posters, none of them have returned to mention that TECZ actually closed up 9% today.
Remember not everyone on IHub is your friend. Make your own "buy and sell" decisions.
I should add that if several of you want to sell shares I'll be a buyer @ $1.30 or the "old" .013 level. :)