eLayaway, Inc. (fka ELAY)

[gmoneypenny]

It's worth noting that there appears to be a fairly new dynamic in MM land between CSTI and NITE. I've noticed on several stocks lately that CSTI and NITE have been teaming up and both the bid and ask side of L2. They each put up a big wall on the ask side, then put up small orders on the bid side. They'll fill a few orders on the bid, drop the bid & ask, and fill a few more there, drop the bid & ask, etc. They will continue to do this for long spurts. If decent buying comes in, they'll squash it by throwing up the large wall on the ask so they can keep up their game...or they will only fill buy orders on the bid for awhile, even if those orders are being entered at the ask price. At some point, when they've taken it low enough, they then start heavily supporting the bid side and let the ask side fly. I've watched quite a lot of MM movement over the years, and this new dynamic between NITE and CSTI is not something I've really noticed 'til lately. I've seen the type of behavior from a single MM many, many times. But I haven't noticed this type of tag-team effort as I've seen lately between these 2 MM's.

It is definitely worth watching these 2 MM's on Level 2 and learn what they're doing and use this information to your advantage to trade a stock when they are heavily playing their nasty little game.