Posted On: 05/16/2016 12:26:30 PM
Post# of 1674
Trading Update - May 16.
Now 37M .0004 x 32M .0005.
5M picked up on the bid at .0004 - total volume so far 6M.
The first increase in the ask looked like it was a 1 tick flipper who got the 1M on the bid at .0004. I believe almost all of that 32M ask is the single indecisive seller that was trying to sell 27.8M variously at .0008/7/6/5/6/5.
He managed to sell a bit - changed MMs from ATDF - took some down to see if people would slap the ask. When the ask wasn't slapped, they put the rest back up again - now 25M+ via CDEL.
Just my opinion - I could be wrong on the one seller but it is most likely flippers from any of the levels or someone who is thinking of selling all and buying back in later when sales figures are available.
People who have changed their strategy back to selling all at even or one tick up - to play safe and get all their money out by selling many tax lots from high price sells at a loss - run the risk of falling foul of the SEC "wash trade" rule if they buy back within 30 days. In addition, E*Trade also investigate and might report to the SEC any buying at the same price and selling at the same price or less if they believe people are trying to manipulate the market.
Now 37M .0004 x 32M .0005.
5M picked up on the bid at .0004 - total volume so far 6M.
The first increase in the ask looked like it was a 1 tick flipper who got the 1M on the bid at .0004. I believe almost all of that 32M ask is the single indecisive seller that was trying to sell 27.8M variously at .0008/7/6/5/6/5.
He managed to sell a bit - changed MMs from ATDF - took some down to see if people would slap the ask. When the ask wasn't slapped, they put the rest back up again - now 25M+ via CDEL.
Just my opinion - I could be wrong on the one seller but it is most likely flippers from any of the levels or someone who is thinking of selling all and buying back in later when sales figures are available.
People who have changed their strategy back to selling all at even or one tick up - to play safe and get all their money out by selling many tax lots from high price sells at a loss - run the risk of falling foul of the SEC "wash trade" rule if they buy back within 30 days. In addition, E*Trade also investigate and might report to the SEC any buying at the same price and selling at the same price or less if they believe people are trying to manipulate the market.
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"Per Ardua Ad Astra" - "Through Adversity To The Stars"
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
