Great Basin Gold Ltd. (fka GBGLF)

[Ohio Gaucho]

You're correct, Bill ... the intermarket sweep rule ...

... We must think like criminals. An AMEX market maker, under the intermarket sweep rule, may choose to be counterparty to any market sell order arriving late to his book just after the market closes, and drop the ones they do not choose to take. A market on close sale provides them cheap inventory to supply next morning to new market buys, at a huge profit. So do triggered stops 20% below market. So let's watch what those 230,000 shares @ $2.25 sell for Monday morning.

I was unaware they could pull the shade down over their window, purge day order bids at say 2.60, ignore GTC bids at say 2.55 placed for the regular session, and then offer only 2.25 for a late market sell for say 600 shares, and then run the table on the triggered stops. That makes nasty red candles to scare weak hands to bail out the next morning, allowing more cheap stock to be added to inventory.

Another example of "thinking like a criminal" being required for success ... and I am disgusted. I never use market orders, but that exposes me to another risk: Incomplete fills and more commission per share on day one, and again on day two for a GTC or replacement order to complete the position.

Sigh, its dangerous out there.

Any pros out there who want to give us naive gold bugs another lesson?

I found these at a link oilboiler posted elsewhere ... http://www.voy.com/64855/ ... (just a sample):

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Kitcotodd...yes and GBN ... -- Frustrated, 16:12:30 12/21/07 Fri
previous trade 2.60 then 230K through at 2.25 by none other
than ...the AMEX specialist...

that is the new intermarket sweep rule I have been talking
about for about 6 mos now ....which allows the MM to take
out whatever is sitting at the bid or ask and trade THEIR
BOOK, ignoring all other orders...

I had a buy in on GBN at 2.45 do you think it was filled...
nope

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called my broker... -- Frustrated, 16:33:47 12/21/07 Fri
said that was a stop stock order on GBN...

He agreed...most of these only occur under the AMEX exchange
and the SEC will not say who was on the other end of these
trades ...someone gets a great deal and someone gets screwed
royally...

he also said he shouldn't be saying this on a recorded line,
but he is not a fan of the AMEX and says they have been
losing a lot of business to the ECN,s due to antequated systems...

those were HUGE numbers...on both GBN and GSS...and paints
a very ugly bar on the daily for GBN...even though those
trades went through AFTER the market close they were picked
up by the charting services because they were recorded at
the close...

GRZ on the other hand actually traded up to the number as
all normal trading...

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GBN ticker prior to AEX SCAM -- mudturtle (I left in the junk on purpose -no edits), 19:42:01 12/21/07 Fri
12/21/2007 16:01:04 2.628800 50000 nsdq Agency Cross Trade
12/21/2007 16:01:16 2.600000 1000 pacx Bid
12/21/2007 16:01:42 2.700000 700 nasd Best ask
12/21/2007 16:01:42 2.600000 1000 pacx Best bid
12/21/2007 16:01:42 8000.000000 200 nsdq Ask
12/21/2007 16:01:42 0.020000 200 nsdq Bid
12/21/2007 16:03:23 2.250000 3900 amex Bid
12/21/2007 16:03:23 2.490000 100 nasd Best bid
12/21/2007 16:03:23 1.730000 100 pacx Bid
12/21/2007 16:03:24 2.200000 3000 pacx Bid
12/21/2007 16:03:24 2.450000 600 nasd Best bid
12/21/2007 16:03:24 2.410000 1600 nasd Best bid
12/21/2007 16:03:24 2.410000 3600 nasd Best bid
12/21/2007 16:03:24 2.410000 4600 nasd Best bid
12/21/2007 16:03:24 2.410000 2600 nasd Best bid
12/21/2007 16:03:24 1.730000 100 pacx Bid
12/21/2007 16:03:24 2.120000 2500 pacx Bid
12/21/2007 16:03:24 1.730000 100 pacx Bid
12/21/2007 16:03:24 2.120000 2000 pacx Bid
12/21/2007 16:03:24 2.600000 1000 pacx Agency Cross Trade
12/21/2007 16:03:24 2.250000 72800 amex Trade
12/21/2007 16:03:24 2.250000 157800 amex Trade
12/21/2007 16:03:24 2.410000 1000 nasd Agency Cross Trade

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Thanks again,
Bob