Wednesday, June 10, 2009 10:45:14 PM
The only thing I'd add at this point is that you can't go by level 2 afterhours, particularly on pinkies. The thinning out aspect really is not reliable. You know the volume cited is only minimal. Even during trading hours, they only show 5000 shares. At .0001, that's what $5 worth of stock? After hours, lots of MM's, just close the quote. It doesn't mean anything.
The trading system needs revision and I've written about it. That's why there is so much disinformation and why people get scammed, scammed by the companies, the MM's, etc.
but, you're right, in that you can make money flippin' 'em, so good luck.
Unfortunately, in pinkieland, this part of your post is so often proven true
Unless the CEO only had the intention to "take the money and run"
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