hundred to one,
The entire bid/ask spread since .0004 and lower has been set up in such a way that 95-98% of the buys are at the ask and 95-98% of the sell are at the bid.
Because MM's are allowed to trade their own funds and those of their friends, they have created a short seller's dream come true with CMKX because of it's daily high drama, chatter and volume. It plays right into their hands whether they are illegally naked short selling, or simply using illegal trading practice by not allowing trades to go through above these levels even though they only allow buys through at the ask. It has only been the past 3 months when anyone has mentioned getting filled at bid when it was .0001. This was very rare and this was only after the issue was being pounded heavy on the boards for a couple of days.
When is the last time in market history has a broker opened the market up so investors can trade 5 digits (sub .0001)??
I'm not being sarcastic. I honestly don't know. In my experience I have never seen this happen. It's safe to say this is either unprecedented or one of the very rare occasions in market history that this has occurred.
Why??
My answer is for the MM's to double cover.
1) They cover their naked short positions. (With people now only being able to sell at below .0001 levels)
2) They cover their tracks, or at least scramble by using 5th digit trading in attempt to hide what has been occurring. (NSS)
Because they decide who lives and dies (meaning what trades actually go through and at what price), they can further their profits and cover their tracks all day long.
If this involves legal shorting, the illegal strong arm trading tactics are even more in place for their benefit by allowing 5th digit trading.
Trust me, even with only 4 days of seeing 5th digit trading in the books, there is no doubt MM's and their friends booked their weekend schedule for warm and sand drenched places by no later than yesterday afternoon.
Bo
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