Great post seabiscuit - I was thinking the same thing, and I will print my transaction history to prove my point...
I put in an order OVER the ask this morning..at 9:15 -for 75,000 shares, thinking that the stock would GAP UP and RUN and that I would be putting pressure on the market takers early on, and possibly might get lucky and nab some of the last cheapies available...
It was just a small order, because that is the way I'm buying these days, since I already have my "core" holdings of over 5.5 million shares.
That "delayed opening" where everyone was bidding at least .008 and level II didn't change for at least 5 minutes, is a crock of _____. Then they finally opened it at .008, which I didn't really mind, because I figured then there would be no "gap" that everyone would holler needed to fill. I also assumed that I would instantly get filled, because my order had already been there for 20 minutes...
Filled Buy 25000 COPI Limit 0.0085 -- -- 10:34:08 12/13/07
Order No. 34573xxx Compliance Sys Corp Com Entered:09:17:00 12/13/07 Reuse
Filled Buy 50000 COPI Limit 0.0085 -- -- 09:40:59 12/13/07
So notice they finally gave me 50,000 shares at .0085 11 minutes into the trading session! And they only gave me a partial fill, which finished filling at 10:34 as the stock downticked on the retrace.
With all that buying pressure, they made it appear there was no volume.... messed up the feeds to level II, and totally slowed the order flow, to take the MOMO out of the rally.
It should be criminal!
CH
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