The way I understand gray trading is that a broker just calls around to find a matching trade. It would be unfeasible for them to call every single brokerage to try to match up your trade. Its just that simple. With the big brokerages a lot of the grey trades happen 'in-house' meaning they don't even need to call around and simply match up their own customers buys/sells.
Also - I'm not sure how the spread on these gray's works. I know that when I was selling my 835,000 shares the day this thing opened up again after the suspension scottrade told me the bid/ask was .015 vs .005 - that is a HUGE spread. So... the trades you see going through at lower levels are probably sells - that doesn't mean you can buy at that price. I imagine the brokers are making a killing on this stock!
Just cause you see trades going through at certain price levels does NOT mean you can buy at that price. There's no conspiracy here...
On another note - regarding the high volume the last 2 days - my personal opinion is JP is dumping a LOT of stock. Bigtime dilution.... remember with an unreporting pinkie (especially one that just raised AS by 200%) you assume dilution until proven otherwise. A gagged T/A should be the first red flag. JP could disprove this with 1 phone call. Why won't he?? To me its OBVIOUS! I think this scenario is a lot more plausible than the "massive naked short" theory... Besides you can't short a gray - so why the huge volume now??
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