Friday, December 20, 2013 4:18:51 PM
I put in a bid (AH) 1 cent above the highest bid and the exact same instant my bid appears on the level II anther bid for the exact same price appears just AHEAD of mine. So I upped it 1 cent. SAME THING! another bid, exact same price appeared in the same instant but AHEAD of mine. THIS HAPPENED FOUR TIMES IN A ROW. Every time the other bid appeared at the same instant (within the limits of human perception of course) Once I raised it TWO cents instead of one trying to get ahead of it but the same thing: same bid as mine,appeared same instant but AHEAD of mine.
Someone has something set to get AHEAD of any raise on the bid. That has to be being entered AFTER each rise in the bid yet it is posted AHEAD of it in the line! That is outrageous and flat out illegal! It has to be done BEFORE each new bid is posted or the response bid would be either AFTER the raised bid or have to be HIGHER to get ahead.
It's effectively a way to block any other buyers from getting a trade without having to raise the bid in order to do that (effectively preventing the price from rising as it should.)
It makes you wonder if someone can be doing this to sell the stock back and forth with a compatriot (or just a different account that they own) and have rigged the system so they can do that as much as they want to without any actual sales taking place. (Dummy trades to drive the price in either direction as desired.
Even if it's just being able to jump just in front of ANY rise on the bid at the SAME (but no higher price) AFTER it was placed it's still outrageously illegal.
Whatever it is, it's clearly a corruption within the system.
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