I may be over-analyzing. I tend to be conservative so sold about half of shares this morning at .83 (have the rest still at ask). So we'll see -- still think ALT is good in the long run.
See your point. Watched CLDX today which was trading in the low .70s and although it had far greater volume due to their recent miss there was a similar close spread and movement. Although the ALT spread was greater today the effect was much the same with much of the time one MM on bid and one on ask. They would go long periods with the same bid/ask and same # of shares offered but meanwhile trade thousands of shares exceeding those on the Level II. There should be a better system; only MMs made money today unless one was trading a very large number of shares.
Too frustrating -- will try to sell the rest at opening @ .83.
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