narvo, the swings tell me the o/s is at such a level
that strength can reoccur WHEN THE MM's ALLOW IT to rise.
I have nothing against MM's. They are doing the same things on many stocks by orders of the companies they work for or higher powers.
Arbitrage is a term I studied a score ago as a finance major, and theoretically isn't supposed to occur. Acedemia and reality are two different worlds however. It occurs everyday from bigboard plays all the way down to the sub-pennys, taking on different forms.
With GLKCE this time period illustrates the possibility of an arbitrage situation they have used to their advantage since about 10am on Thursday when the wall was hit at .035. Since then we have seen swing trading slowly...oh so slowly tranding lower.
But for us, I'm simply not concerned about any MM issue or action against them. That is up to others to decide.
Right now either way, I would to hear from the company to confirm the facts around what the true tradable o/s should be and why. We either have a great short term play, or one where we need to stay far away.
Bo : )
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