Theo's Poolside Discussion of Trading Delights and Disasters (BYOB)

[Wayne R]

Then there were what I suppose were criminals in after hours trading.

Took me a while of watching to figure out their scam.

So, there is a low float stock that doesn't really trade much and I imagine that there is some guy managing a portfolio for someone and figures he's not getting paid enough.

What this guy does in afterhours (i'm only theorizing here)is sell a 10 dollar stock to himself for 2 bucks, then sells it back to his client for 16 dollars.

I managed to sneak in a couple times to grab the sell 1/256 above the bid or short it 1/256 below the ask.

The guy can't complain to break the trade, he's screwing his clients....

Oh so much crazy shit.