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Hey Zen...this Jay Adobe seems to be well informed on CMKX..hmmmmm..

By: jay_adobe
23 Mar 2005, 09:22 AM EST
Msg. 862293 of 862702
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Many wonder how the VWAP can be reported at, for instance, yesterday's price of .1845. There are intricate rules in place that allow the MMs to only show us a portion of the order that was filled. Especially if they can mask the order as a "riskless" transaction. Read the link below to define 'riskless'. What we are seeing go through on the tape is nothing more than a "portion" of the order. Say, for instance, there is an order for 18 million shares. We are only seeing 9 million blocks of shares go through at either .0001 or .0002. The other 9 million block would go through unseen by the public (because we only have access to the tape)at whatever the settlement price is (which is why the VWAP is so much higher for the past few days). Many are trying to figure the VWAP based on what we as the public are seeing on the tape. What we are not seeing is what is going on behind closed doors. If you want to educate yourself more in this particular type of manipulation, refer to this update. https://www.nasdaqtrader.com/trader/2000/technicalupdates/083000ntm65.pdf
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