Interesting trading on SKTO...the bid/ask is pretty thin,
Interesting trading on SKTO...the bid/ask is pretty thin, so I decided to conduct some tests. Spread was .0087 x .0097 so i placed a bid for 20K @ .0096 and it went through in a couple of minutes. Again the spread was .0087 x .0097 so i placed a bid for .0095 and that took awhile to fill on only 10K shares.
Immediately afterwards a 250K ask @ .0095 appeared to see if I was serious. If it was true selling, it wouldn't only be 250K shares. Additionally, a long wouldn't be sitting there monitoring the price all day just to bid whack my 10K or 20K shares.
What does this tell me? Regular longs are not selling, but someone is intent on keeping the price down. I believe they are trying to cause a panic sell, but unsuccessful so far, and have resorted to short selling to the MMs. They will have to cover soon enough, but I'm going to keep messing with them on 10K and 20K shares.
My account balances are high enough that I get tons of free trades every month, so I can keep playing games with these crooks.
Right now I'm bidding 10K @ .0094 against the 250K @ .0095. If it was a true long trying to sell, they would have taken the .0094. If it was a fake wall, then it stays at 250K @ .0095 on the ask while a 10K sell will take the bid out.
SK3 Group Inc. (SKTO) Stock Research Links
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