Trading Summary - July 22. The usual 1-tick fl
Post# of 1674
Posted On: 07/22/2016 4:12:17 PM
Trading Summary - July 22.
The usual 1-tick flip suspects loaded the ask at .0002 to 295M within a few minutes of the open.
The maximum bid was 183M at .0001.
There were a number of mirror trades today at .0001 - again the bulk was picked up by institutional investors rather than retail buyers: 2 x 6.84M, 2 x 10M and 4 x 7M.
None of the the shares picked up at .0001 were added to the ask at .0002 - reinforcing my view that they went to long-term investors.
The visible bid was only reduced by 28M even though 61.8M was traded at .0001.
There was also a 1.3M hit on the ask at .0002.
Total volume 62.99M.
VFIN still at .0002.
All other convertible debt sellers have remained at .0010 for 14 business days now.
Ask in GTCs at close was 167M (down 29M).
Going forward, watch for increasing numbers of fence-sitters to hit the ask at .0002 so as not to get left out when the move happens eventually on revenue confirmation in the weeks, months and quarters ahead.
24.9M loaded so far by hitting the ask at .0002 in the last 5 business days since it became obvious that not much was getting picked up at .0001 by normal retail buyers..
The usual 1-tick flip suspects loaded the ask at .0002 to 295M within a few minutes of the open.
The maximum bid was 183M at .0001.
There were a number of mirror trades today at .0001 - again the bulk was picked up by institutional investors rather than retail buyers: 2 x 6.84M, 2 x 10M and 4 x 7M.
None of the the shares picked up at .0001 were added to the ask at .0002 - reinforcing my view that they went to long-term investors.
The visible bid was only reduced by 28M even though 61.8M was traded at .0001.
There was also a 1.3M hit on the ask at .0002.
Total volume 62.99M.
VFIN still at .0002.
All other convertible debt sellers have remained at .0010 for 14 business days now.
Ask in GTCs at close was 167M (down 29M).
Going forward, watch for increasing numbers of fence-sitters to hit the ask at .0002 so as not to get left out when the move happens eventually on revenue confirmation in the weeks, months and quarters ahead.
24.9M loaded so far by hitting the ask at .0002 in the last 5 business days since it became obvious that not much was getting picked up at .0001 by normal retail buyers..
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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.