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Tuesday, October 12, 2010 4:30:22 PM
http://www.interactholdings.com/PresidentsCorner.html So, you will get the news first before it hits the wire.
The MM's will not be able to carry this short sale forever and will have to acquire the shares somehow to complete the transaction. As long as shares are held tight they will be forced to raise the bid accordingly.
"Last week this moved up on very little volume. I put an order in at the ask for 400K @.009, they only gave me 50K then hiked the ask up to .013, to funny. In my opinion, they are short and the float is dried up! Just hope we get news to stimulate buying pressure." (JimmyCrickets)
"It also happened last friday to a friend of mine trying to buy 50k @ the ask of .02. They filled about 42,000 then raised the ask to .0235. If we get any buying pressure or news.... KABOOM!!!" (JimmyCrickets)
Tight float as in buy orders are not filling immediately on a consistant basis. If the float wasn't tight or tied up, the orders would fill almost immediately. When MM's are holding back fill at the ask, it is possible the float is tied up or at least very tight. It also is a possible signal that they are blocking. Best thing to do is call your broker and force them to fill it.
THE FLOAT IS LOCKED UP!!!
THIS IS HUGE!!!
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