1. Level 3 is available to MM's. They can see all of the bids and asks. For instance, the general public has been able to see .04 ask when an ask at .035 was "hidden." MM's have more capabilities than the general public, which, in my opinion is an absolute scam. Free market; whatever.
2. When you bought your 10K shares, it does have an effect on the price. Why, when the pps didn't go up, you ask? Market dictates the price. If you stand in line at Footlocker, offer $20 for a $35 marked shoe, Footlocker has the right to deny the sale. What if 100 people wanted the same pair of shoes? Bring the price upt to $60. They also have the right to sell the pair for $10 next day. Market, market, market.
Now, when the MM sees a .02 on the bid, it decides to release 2,000 shares to the bidder, therefore bringing the overall pps down.
The real question to ask is, why? I think members of this board are holders and the MM's know it. DO NOT be surprised if this goes back below .01. Yes, I would be sad, initially, but there is always a reason. You, the small share holder, then are forced to make a decision. This is what the MM's want. The more volatility, the better for them.
The only advantage that small investors have is to remain principled and disciplined. The rest is all a game; a shell game at that, in this case.
Hope my perspective helps. I would love to hear other thought as well.
