Trading Summary - June 9. Initially 25M .0003 x
Post# of 1674
Posted On: 06/09/2016 4:05:41 PM
Trading Summary - June 9.
Initially 25M .0003 x 14M .0004.
Then the usual indecisive flippers stacked the ask at 9:32.
25M .0003 x 31M .0004.
Convertible debt trades today:
24M at .0003 plus 9M AON orders at non-retail price of .000297.
There was another 3.6M in miscellaneous non-round M shares which I haven't counted in the totals for convertible debt sells. At least 2M of that was taken off the ask.
Of the 36M picked up today, very little - 4M - was put on the ask at .0004.
When all MMs except CANT were at .0002, the visible bid was 189M - there are probably additional non-visible AON orders.
Buyers through NITE bid at .0003 again - initially with a token 10K then with 5M.
Total of 197M in convertible debt sells believed to have taken place since May 26.
The moving 5-day total is 96M.
The average per trading day since May 26 is 19.7M per day.
I believe the convertible debt seller is happy with a quota of around 100M per 5 days at .0003 / .000297.
Anyone who is not already bidding .0002s in not likely to get filled during the current round of convertible debt selling (in my view).
Ultra-longs were placing anti flipper denial bids at .0002 from at least May 17.
Over the coming days we will see if the convertible debt seller is interested in selling at .0002.
In the meantime, those who want more share but don't fancy their chances in the queue at .0002 will probably continue to buy - on the bid or at the ask - at .0003.
Close 189M .0002 (visible) + 5M .0003 x 35M .0004.
Initially 25M .0003 x 14M .0004.
Then the usual indecisive flippers stacked the ask at 9:32.
25M .0003 x 31M .0004.
Convertible debt trades today:
24M at .0003 plus 9M AON orders at non-retail price of .000297.
There was another 3.6M in miscellaneous non-round M shares which I haven't counted in the totals for convertible debt sells. At least 2M of that was taken off the ask.
Of the 36M picked up today, very little - 4M - was put on the ask at .0004.
When all MMs except CANT were at .0002, the visible bid was 189M - there are probably additional non-visible AON orders.
Buyers through NITE bid at .0003 again - initially with a token 10K then with 5M.
Total of 197M in convertible debt sells believed to have taken place since May 26.
The moving 5-day total is 96M.
The average per trading day since May 26 is 19.7M per day.
I believe the convertible debt seller is happy with a quota of around 100M per 5 days at .0003 / .000297.
Anyone who is not already bidding .0002s in not likely to get filled during the current round of convertible debt selling (in my view).
Ultra-longs were placing anti flipper denial bids at .0002 from at least May 17.
Over the coming days we will see if the convertible debt seller is interested in selling at .0002.
In the meantime, those who want more share but don't fancy their chances in the queue at .0002 will probably continue to buy - on the bid or at the ask - at .0003.
Close 189M .0002 (visible) + 5M .0003 x 35M .0004.
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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.