United American Petroleum Corp (UAPC)

[rich pearl]

these big asks aren't generally being done by sloppy, naive, stupid, whatever traders. they're done on purpose. this is an ask blocker, a retail trader or group who doesn't want to let the stock go yet. the idea here is to discourage buying so that the ask blocker can accumulate at or near the bid with as little competition as possible.

for the ask blocker, its a win-win situation. if the shares get bought out, they make money now. and if no one buys, they get to accumulate and make money later. most traders don't have either the requisite size or time to block the ask. and just as importantly, because perception, as versus reality, drives opinion, the ask blocker is rarely seen for who he is. otoh, small traders forced to sell at the bid are derisively called bid whackers when in point of fact they help stabilize the chart during pullbacks with their small volume and offer their shares to stronger hands.

speaking just for myself, i welcome those bid whackers because the daily price is not as important to me as is the buying opportunity. and i dislike the ask blockers because they are usually sitting on the bid before me. in any case, its all part of the game.

best of luck to ALL

rich