Of course I haven't a clue as to the trading decisions of others. But I can't dismiss anything. If a trader who bought a small'ish amount of shares pre-split and is now holding a tiny amount of shares post-split, I can see that trader just getting out and moving on...placing a market order just to flee this scene. >>
It was done quite a few times pre-split, as you and I witnessed traders willing to accept .00001 for their shares just to get the hell out of here. Why a trader wouldn't have some patience currently, post-split, to see what is to unfold, I can't answer. >>
The original poster who started this thread, I asked why I haven't seen his order to sell at .90 on the ask. I'm still waiting for a reply. Regarding current trading >>
Once again, haven't a clue, but today the trading action seemed to settle mid-way between the bid and the ask. There were quite a few trades, (sells), at .405, broken up in varying lots ranging from 1 share to 531 shares. I suspect that was an AON order and the MM filled the order possibly out of a personal inventory he/she was willing to use to execute the trade. If MM's bought shares at .15, sure, why not sell them at .405. However >>
What if that was a market order? That's what the original poster claimed -- that etrade told him market orders take precedence over limit orders. That would be true. Here 's where I get confused >>
If folks are willing to place market orders, they are telling the MM "I'm willing to take whatever you'll give me or whatever you can get for me."
It is counter-intuitive for me to think an MM would give that trader .405 or .90 or .95 -- when the MM could simply give the trader .15 -- then, take those .15 shares and fill the order for a trader who is willing to pay more than .15. There were two trades, (buys), today at .94 -- so some folks are willing to pay a premium. I'm not sure they are very smart traders at this point, considering how little we know about what is to unfold. If I was going to buy (IF) -- I'd put an order on the bid at .01 and no higher. But that's just me. However, I'm not buying one share at any price until I see something from this me company. I haven't seen anything yet. Those PR's have been fluff and nothing more than fluff.
