AI
| Followers | 11 |
| Posts | 578 |
| Boards Moderated | 0 |
| Alias Born | 05/12/2006 |
Saturday, March 17, 2007 3:12:12 AM
Yes qaswaseas, that is true. I tried to flip a mere 290k shares at 15:04 yesterday, at 0.0064. It was good to see what happened. They only ever filled 157k of that - even though I watched several million shares (literally) trade 'past me' at 0.0065, when I had a better offer at 0.0064 (and I did not have an AON restriction on my sale). I even lowered the ask to 0.0063 - but no fill for 20 more minutes. "MM = market moron" 
So I finally sold the last 130k "at market" at 0.0060 ...
Then I got lucky, I put in an order to buy back 300k at 0.0056, and with 5 minutes left in trading, I got it.
You wrote: "Most retail buy orders at lower levels are not being filled, although a few are lucky, depending on the brokerage firm used." EXACTLY RIGHT. You clearly know the game ...
Making a flip sale like this gives one a good idea about the MMs 'situation' on a stock, as you say. If you get immediate fills when you sell, that's not always a good sign, especially if the volume is not at its max. To me it often says the MMs are distributing shares quickly, and the price will fall soon (accordingly). As you have said (rightly IMHO), the MMs seem to want a lot more ETIM stock than they can get. So they are surpressing the trading to suit their needs - playing with the bids/asks, ignoring the ones they feel like ignoring, holding back sales and holding back fills to suit their needs and plans. Sad but true, but as most of us know, it's how the game works. The best we can do is learn the game and play along with them ...
GLTY
Opp
(PS I hold 2 million shares long that I will not flip until somewhere between 8 and 13 cents)
So I finally sold the last 130k "at market" at 0.0060 ... Then I got lucky, I put in an order to buy back 300k at 0.0056, and with 5 minutes left in trading, I got it.
You wrote: "Most retail buy orders at lower levels are not being filled, although a few are lucky, depending on the brokerage firm used." EXACTLY RIGHT. You clearly know the game ... Making a flip sale like this gives one a good idea about the MMs 'situation' on a stock, as you say. If you get immediate fills when you sell, that's not always a good sign, especially if the volume is not at its max. To me it often says the MMs are distributing shares quickly, and the price will fall soon (accordingly). As you have said (rightly IMHO), the MMs seem to want a lot more ETIM stock than they can get. So they are surpressing the trading to suit their needs - playing with the bids/asks, ignoring the ones they feel like ignoring, holding back sales and holding back fills to suit their needs and plans. Sad but true, but as most of us know, it's how the game works. The best we can do is learn the game and play along with them ...
GLTY
Opp
(PS I hold 2 million shares long that I will not flip until somewhere between 8 and 13 cents
) 
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