Interesting ending to yesterday's trading. First
Post# of 11899
Interesting ending to yesterday's trading. First was a buy for 911 shares at 0009 at 3:52:36. That is normally code for "Impending News". Then, at 4:00:11 an "after hours" trade went through for 100 shares at 0007.
100 is the MM code for "I need Shares".
Considering the amount of shares traded, this could mean an MM has put themselves in a bad short position due to this impending news that they were not expecting. Holds even more credence because they sold the 100 shares at 007 to bring the opening share price down today even further, possibly in the hopes of creating more panic to get some cheap shares to cover their short position early on.
"People" don't buy 911 shares nor do they sell 100 shares (a 7 cent trade BTW) of a sub-penny PINK as they would be paying more for the cost of the trade then the shares traded. MMs do though, either to manipulate share price and/or to provide information to each other. Since this information is known in the system, this could also be a misinformation campaign on the MM's part as well.
Be interesting to see what happens though I hope that the codes stay true to their original meanings. Feedback anyone?
GO RFMK!
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