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Thursday, April 17, 2014 1:51:39 PM
Someone is trying to get out but noones buying... they sold onto that tiny bid 700k and now if they want to get rid of their shares they have to repunch in an order for .0055 and only get rid of 303k.
Intra-day traders spot this quick. If I were watching and had my bid @ .0055 I could A: sit tight and soak up his shares or B: move down to say .0052 and either hope he's super impatient and goes even lower to sell or hope noone else tried to bid for the shares he's dumping off. Either way unless they have free trades they are losing money on commissions even if they're selling for a profit.
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