There are so many different scenarios for them to make money...they are wash trading amongst themselves and "painting the tape". They might sell at a .02 loss make it up on next trade by selling 2 cents higher to a partner MM. In some cases they are not trying to make any money, just suppress the price and break even. I have heard rumors but have not confirmed myself, that on 5/10 there were 10+ Market Makers trading massive amounts of shares. I didnt look into it that deeply as I sold 1/2 my position in the $1.80s only to buy back 3 times that position in the .40s and .50s = I didnt care. The only thing that is certain is when you hit the sell button and lock in realized gains, until that time, all it is paper and can evaporate within minutes....have watched it too many times to make that mistake twice. Biotech investing isn't for the faint of heart, and by far the riskiest sector Wall Street has to offer. Its never that easy, ever. It takes major patience and gut checks to see this type of stock through, but the rewards can be massive. Anyway.....there were so many shares traded that day I am sure it was tough to watch who was doing what and when. What is 100% certain is that the active market makers for NW Bio trading the stock today and for the last 2 months, do not want the stock to run just yet. Why? They have not fully covered short shares but getting close. Until a huge whale comes here to gobble up shares the MMs are in 100% control. Up 7% yesterday, down 5% today. Rinse and repeat until the proper PR brings attention to those large share gobbling Insty's. Then their time has run out. Soon.
-Fireman
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