Copy of a post I made on iHub in response to a tru
Post# of 1674
Posted On: 06/03/2016 4:28:06 PM
Copy of a post I made on iHub in response to a trusted long who was wondering why he was not getting filled at .0003.
coopaloop21. My daily trading summaries explain why .0003s are not easy to come by except for those with a long-term strategy who bid early.
The convertible debt sells are being carried out in a controlled manner - probably against a quota of around 100M per week - 131M done so far since May 26.
Half the trades are at a price of .000297 that are not available to normal retail. These might be MM>MM deals with the shares being picked up by institutions such as hedge funds - just a guess.
Longs seeking to thwart the efforts of those who want a quick flip - or to average down to get out altogether at a ludicrously low price - have had both visible and AON bids in for up to 60 days and they are getting filled first. The main retail MMs might be filling bids placed around May 18. Mine from May 17 filled yesterday.
My best guess is that there is at least 50M being bid at .0003 - split between retail visible, retail AON and non-retail AON. I also expect that it will be topped up at .0003 if / when momentarily the full extent of the visible .0002 bid shows and people see that it is in the 50M>100M range and they have little chance of getting much / any at .0002.
All just my opinion from observing all the trading action.
coopaloop21. My daily trading summaries explain why .0003s are not easy to come by except for those with a long-term strategy who bid early.
The convertible debt sells are being carried out in a controlled manner - probably against a quota of around 100M per week - 131M done so far since May 26.
Half the trades are at a price of .000297 that are not available to normal retail. These might be MM>MM deals with the shares being picked up by institutions such as hedge funds - just a guess.
Longs seeking to thwart the efforts of those who want a quick flip - or to average down to get out altogether at a ludicrously low price - have had both visible and AON bids in for up to 60 days and they are getting filled first. The main retail MMs might be filling bids placed around May 18. Mine from May 17 filled yesterday.
My best guess is that there is at least 50M being bid at .0003 - split between retail visible, retail AON and non-retail AON. I also expect that it will be topped up at .0003 if / when momentarily the full extent of the visible .0002 bid shows and people see that it is in the 50M>100M range and they have little chance of getting much / any at .0002.
All just my opinion from observing all the trading action.
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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.