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Re: Ragz2Richez post# 4906

Tuesday, 07/10/2012 7:10:47 PM

Tuesday, July 10, 2012 7:10:47 PM

Post# of 7209
CSTI is a market maker where all the heavy selling came from (the spike to .0047 maybe also but i wasn't online to see it). I did, however, watch the L2 and time & sales during the sell and it all came from CSTI so either someone connected to the firm had 6m shares to unload as low as .0025 or someone from the firm shorted it after being squeezed the first time when it spiked to .0047. why i think that is because it looked like a panic cover jumping from .0038 to .0047 without a supporting bid. someone had to exit as if they're stop price was hit it seemed like. then it came back and drove down the bid to .0025 with a 6m ask. whenever the ask was slapped with 100k buy, it would disappear, then come back so i would surmise that it was a fake wall to get everyone to sell on the bid.

http://www.alphatrade.com/E_Gate/tails/java/classes/resources/level2/marketMakerIDs/c.html