this volume is mostly small time retail trading wi
Post# of 15187
Posted On: 04/12/2016 2:26:35 PM
this volume is mostly small time retail trading with some MM shorting thrown in to fill some open positions.
just under 3MM shares on ASK at 15 and 3.5MM on the BID at 14. if one was really trying to "get out" they are not going to squawk at $0.0001 when they are trying to unload 3MM shares. that is a difference of $300 or @ 6% of the total. if you are trying to get out of an illiquid stock where your position could cause it to tank - you are not going to squabble over 6% when the price could easily go back to 11 where you would have a difference of 40%. i have seen this steadily for the last several weeks when i have had the time to observe the trading/offers on L2. with the consistently high short interest on a % basis - this suggests there is no "dumping" but rather retail guys trying to make a couple hundred on a trade here and there and the MMs taking what they can get.
by the same token - if someone was really looking for 3MM shares to add to a long term position and someone was offering 3MM one tick above - they would be silly not to suck up the 6% and take the shares before someone else did and moved the price higher. the long term investors have seemed to be patient and quickly absorb anything in the 11-12 range. i have not seen any shares last long at those prices. granted - some of those are going to the traders looking to flip them at 14 or 15 but they tend to wait until there is volume before they will try and flip.
just under 3MM shares on ASK at 15 and 3.5MM on the BID at 14. if one was really trying to "get out" they are not going to squawk at $0.0001 when they are trying to unload 3MM shares. that is a difference of $300 or @ 6% of the total. if you are trying to get out of an illiquid stock where your position could cause it to tank - you are not going to squabble over 6% when the price could easily go back to 11 where you would have a difference of 40%. i have seen this steadily for the last several weeks when i have had the time to observe the trading/offers on L2. with the consistently high short interest on a % basis - this suggests there is no "dumping" but rather retail guys trying to make a couple hundred on a trade here and there and the MMs taking what they can get.
by the same token - if someone was really looking for 3MM shares to add to a long term position and someone was offering 3MM one tick above - they would be silly not to suck up the 6% and take the shares before someone else did and moved the price higher. the long term investors have seemed to be patient and quickly absorb anything in the 11-12 range. i have not seen any shares last long at those prices. granted - some of those are going to the traders looking to flip them at 14 or 15 but they tend to wait until there is volume before they will try and flip.
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