Folks, here's my thinking on how one should sell shares. It applies to whoever is selling now and to those of us who are waiting for much higher prices.
Consider for a moment that you have a lot of shares you wanted to dump. If the bid was really feeble, you wouldn't want to bid-whack for fear of the price plunging. Then again, if there was a large bid, and if you were in a hurry for some reason, you might sell to that large bid. Right? Makes sense so far? And what would you make of the situation if the bid was bouncing around a lot with folks jumping ahead of the best bid? You'd think someone was playing games to buy more shares and so you might roll the dice in hopes of selling higher. Right?
Well, now consider the mirror opposite case. Say you wanted to BUY a ton of a stock, but you didn't want to cause the price to sky-rocket. Would you slap a small ask? No. But you might buy in volume if you saw a larger ask. And if you saw the ask getting constantly undercut, you would maybe roll the dice in hopes that some weak long would bring the ask down even lower. Right?
SO, if people would just put in their orders -- even large orders -- as GTC orders above the best ask, the market WILL come up to you and if there is enough quantity there I believe it will get purchased. Please stop with the nonsense of putting in a spur of the moment sell at 0.0001 under the best ask. That is not going to help you get a fill and it is not helping the stock.
OK, none of this matters for a while, because IDLM is so low now that even idiot trading by longs can't stop it. But when we get up to maybe 50c or 80c these pointers will become more relevant. If you want to sell 60,000 shares around 65c, then just put in a GTC order at some price like $0.6532 and leave it there. When an aggressive buyer sees that sort of quantity, I believe they will move the market up to grab it. You will leave the stock healthier after your sale, and you'll get a better price than if you try to hide your sale behind a fake quantity or hide it as AON or put in 10 6k orders. Just send an honest message about what you want to part with and where and let the buyers decide if they want them.
Wadi
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