Does anyone have a thought about what this poster states in regards to a no bid pinksheet stock?
Yes, the last 22 million shares went off at 0.00001. This happens almost everyday when the mm receive a large order that they can't fill, they execute an "intermarket sweep order, ISO", this allows them to transfer shares from once trade center to another in order to fill the large order. In the past ISOs were not reportable and mm were free to transfer shares as they want, however the SEC has lately demanded that all ISOs be reported as regular trades. Therefore the MM are reporting them as trades with near zero price.
If you noticed, just before the 22 million shares were reported a 100,000 shares went off at 0.00001. Now if this is a sell order, how much money did the seller get? one Dollar ($1.0000) but must pay at least $5 commission!! this is unrealistic.
Last Monday I placed an order to purchase 10 million shares of wlsi at 0.0001. I put AON as a condition, the mm couldn't fill my order so he excercised an ISO in which he collected 1 million shares from one trade center and another 9 million shares from another trade center, then he filled my 10 mil share order.
So, seeing those 0.00 or 0.00001 orders doesn't mean that someone is selling, it just shifting shares between centers
"Give 'em the old Razzle Dazzle.....razzle dazzle 'em"
