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Re: None

Monday, 03/31/2014 11:58:37 AM

Monday, March 31, 2014 11:58:37 AM

Post# of 106837
Volume appears to be slowly, but surely drying out now, and with it, the spread is being opened up, GRAND CANYON wide by these brutal penny broker/dealers IMO.

2.5 hours into the trading day and what, about 350K shares traded? That's about 350K X .042 (say average this AM) = about $15K total dollars traded.

So assume maybe $10K of that is buying, then someone or a few people just had to pay a "up",plus 15% spread to fill maybe qty-5, $2000 dollar orders? Wow. Hardly "up" 15% when all you had traded was a grand total of $15K dollars?

Just penny-ville IMO. The broker/dealer still wants this "up" for whatever reason(s) on any buy orders, so that's what it will take to buy yourself a couple of grand worth of shares. On a listed stock- the trades are in fractions of a penny and fractions of a percent. Paying a 10% or more spread to get a fill on a few thousand bucks worth of stock- not me, no way. That's highway robbery IMHO.

Similarly- I'd put bank on it, that if you wanted to unload $10K worth right now, they'd take it down 10% or more in the other direction for your order to "fill". These broker/dealers are brutal on this one IMO.

See, they just took it down about 1.5% to fill 500 shares or so, lets say a 1000 shares to be generous. That's 1000 X .045 = $45 bucks worth, and it took a 1.5% spread to fill that $45 bucks. Wow-o-wow-o. Oh well, to each his own. Good luck trading.