![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Tuesday, August 04, 2009 3:10:04 PM
This stock has had a huge run up. After such a run up, many folks (day traders and swing traders) take all of their profits or as some have suggested here, sell a portion at a nice profit and ride the rest of their shares with little or no money at risk.
Also, The MM's have LVL III screens that show them all of the orders sitting out there. It is not uncommon for the MM's to engineer a rapid drop to hit all of the stop loss orders and clean out the book so to speak.
That does two things for the MM's.
First it generates profit by creating a large order flow. Note that the vol today is over 10 Mil and there is a hour of trading left.
Second, it allows them to either cover their short positions or acquire inventory if they so choose.
The only thing that surprises me about what has gone on today is that the share price didn't stay up once it got back to .05.
Of course the trading day isn't over yet either.
Steady _T
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM