Thursday, May 29, 2008 4:24:25 PM
"i am guessing it will take striking oil in Kern ... or eberle connection with a strong flow rate ... for this thing to break a penny." I don't think it would take that much. It already hit .008 on no meaningful news at all. But don't worry: Neither of those two things is going to happen.
"what does the L2 look like?" Qualitatively speaking, it looks like a lot of selling, with occasional spurts of buying which the market makers accommodate by raising the offer (but not, usually, the bid). Quantitatively, it looks like .005/.006, either a 20% markup or a 17% markdown, take your pick.
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