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Wednesday, April 07, 2010 7:45:00 PM
I don't buy all this "MMs are painting the share price". I've always seen that as a go-to excuse for people who don't know better.
What you are seeing is an adjustment of sales at the end of the trading day. The excuse that MMs are painting the EOD would hold water if we were working with a stock like Google that actually has individual MMs that worked the exchange floor, but all the price action on pennies like this one come from your broker who acts as the Market Maker.
What also cracks me up is that people actually BELIEVE a 5 lot could make the price go up on a stock like this. Even IF someone was manipulating the price, they would need a TON of money to do so.
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