This far out of the start of trading, bids and ask don't mean anything....you should see a realistic bid and ask more towards the open...usually 1/2 hour or so before the market opens...
Remember there is pent up demand for either buys or sells to come in that were placed after market close.
There are also many startegys that the mm's can use such as gap and trap, where they let the stock run and entice buyers in and then slam it back down shaking those very shares lose and saddling traders with a loss..
Sounds to me that this is exactly what happened to your friend and mine, Yang....he was upset because he lost money 2 days ago when the stock was green all day and up 11 cents...
Learn from experienced people here and things like that won't happen to you.
Seek to understand rather than spewing negative comments about owcp because you don't know how to trade....Listen and ask questions.
Also MM"s that want to stay out of active trading usually place their bids and ask a bit away out of the action..I saw people here yesterday commenting on where these were and it was a sign of what is to come....again...not true...
I am a former broker/agent, and have my series 7 securities license. I taught people how to daytrade in the past and understand how the markets work and the games mm's play. A good friend of mine works for Goldman Sachs...he told me that a lot of the times during the day MM's specifically go after intra day traders to shake shares lose..
We have seen how the mm's over the last few days slam owcp down to shake shares lose...inevitably the stock goes back up..
THis will get harder and harder for them to do in the coming days as we near 1.00.
Obviously there will always be people willing to sell...but for those that still feel unsure about this....if you feel uncomfortable and are scared and feel anxiety at all over trading...let me tell you that this is normal..
I went to work every day feeling like this...that is the nature of what the market can do to you and realistically the most important thing is to have a good psychology around how you trade, your positions that you're holding along with a plan on how you plan to eventually trade out of your position depending on the market and what the company is doing..
In the case of owcp, we all know about the company and it's plans....that's the easy part...
Know what you are holding onto but never lose sight of the fact that anything can happen here as we don't control anything really except the ability to hold onto our shares or to sell them.
I will say this in closing.....the opportunity presented by owcp and many legitimate MJ stocks is mind bending.
I haven't seen this kind of excxitement in the market with such enormous upside since the late 90's early 2000's when tech was exploding.
I used to specialize in trading IPO's..It was insane and so fast and almost impossible to see bids and asks as things changed in milliseconds.
That was a huge rush.
This is historic! Enjoy this as we are all about to expeince something that will only happen once in our lifetime regarding MJ!!!
Puss
AI
