Monday, August 09, 2010 2:39:35 PM
I can't answer you in public since I only get one post, but it's the idiotic, inexperienced traders that incorrectly think they are supporting the bid by placing their buy orders there. They use that as an "excuse". The real reason is they are cheap, and they think that their one little buy at the bid won't hurt anything. But the problem is it's not just one or two people doing this. It is most of the people that are trading like this these days. It wasn't always like this. It's really picked up in the last couple of years. People that stand all over the bid will offer up every excuse in the book as to why they do it and none of those excuses matter. The plain and simple fact is that no stock can withstand the kind of pressure on the bid that we've been seeing.
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