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Tuesday, October 21, 2014 4:30:45 PM
And they had the spread at near 15% wide pretty much all day- trying to get someone to bite on that huge spread. They posted a few trades on the Ask, almost makes you think it might be the trading desk itself, posting a few, tiny buys at those 15% wide open spreads to see if they can get other buyer's enticed to bite and jump in on that wide gap- but doesn't seem to be working or drawing any attention IMO.
Really odd IMO. Last week when it broke down hard to the sub 2 cent area, it was doing over 1 million a day and several days where it broke 2 million plus shares a day.
Today again, total vol was 258K shares X about .018 = about $4,600.00 total dollar vol on the day. Not even $5K.
One sell order of size in this low vol, low/no trading, flat line type environment will sink this again IMO, and from watching it in the past in this mode. Just one "big boy" unloading a single, decent sized sell order and this could hit the 1 cent range in a blink, the way it's done many times in the past.
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