littlefish: MM's are not usually investors. They are facilitating buying & selling and trying to make a BIG buck in the process. If someone puts in a sell order @ $.61 and they have a buyer @ $.62, then it is an easy trade for them.
Trying to figure out who is selling will drive you nuts. The big guns NITE, UBSS, etc. have a lot of retail order flow and deals with many other brokerage firms. They do very well.
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