Yep- many have been grabbing bits of cheapies as they can while we are in this price channel. Not all of those posted Asks are real. As I'm sure most of you have noticed, large buy orders - even slapping the Ask, go unfilled. Small buy orders will fill as retailers step up for whatever reason.
For example the Ask may show 10k @ .155 but if you slap it for all 10k you will get nothing or maybe a 1k partial fill. MM will only sell you whatever "real" retail shares he has on hand, if it makes a profit for him.
Keep in mind you CAN get the MM to sell you a large lot at a lower bid if you put in a large bid that exceeds 10% of the daily average traded volume.
At that point they make enough profit on the spread+large order to consider it.
For example if the daily avg traded volume is 500k, the current Ask is .16, and you put in a low bid for 55k shares @ .15 "all or none", you may actually get filled! This does not always happen, but, it is something to try if buying in larger qty at once.
FRLF
Want to see what I'm working on? click my profile link and go to the recent posts tab. good luck and good trading all-
