Posted On: 10/29/2013 3:03:50 AM
Post# of 5115
2.6M shares is 20% of the float owned by one person. When you compare that to today's trading (600k shares), you'll understand the sheer volume of wash trading.
If you increased your holding from 500k to 1.3M that would be another 10% of the float locked up; so that would be 30% of the entire float just between two people. I'm sure there are other large holders with roughly this amount already (1M shares = $16k), so the tradable float is probably much lower.
These wash trades are simply trader games designed to scare people into selling (note how the Ask is being stacked). Either that, or there's really a short position that's being shifted between accounts roughly every 20 days.
If you increased your holding from 500k to 1.3M that would be another 10% of the float locked up; so that would be 30% of the entire float just between two people. I'm sure there are other large holders with roughly this amount already (1M shares = $16k), so the tradable float is probably much lower.
These wash trades are simply trader games designed to scare people into selling (note how the Ask is being stacked). Either that, or there's really a short position that's being shifted between accounts roughly every 20 days.
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