CMKM Diamonds Inc. (fka CMKX)

[jon_e_og]

Average trading volume around 3.5 billion a day.

be careful with these assumptions...on stocks like this there is alot of double/triple printing on the time & sales so you have to be very conservative with your average. The Market Makers trade in the 5 decimal, so when you place an order(in the 4th decimal)your broker's MM may buy shares off the ask at a price under the L2 ask(1 print) and then sell it to you in the 4th decimal(2nd print). Sometimes there is more than one middleman and you can see the same shares print a number of times.
But as for those big blocks going accross in 9 mil form which make up a large part of the volume, I'd say those are single prints and are being bought at the ask by a MM who is not flipping them to a client, hence the single print rounded to the fourth decimal.

So 132 billion shares held by longs

Don't forget about the multi-billion share days back when this was NO BID x .0001 and .0001 x .0002 - I'd say about %30 - 50 of those that were bought retail are still being held long; that's of course if you believe all the people to claim to be in from .0001