Do some of the buys raise their price and some of the sells lower their price until they meet? I see this as a game of chicken.....somebody has to move in order to make something happen. Correct or totally wrong?
You got it!!!!!!1
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Do some of the buys raise their price and some of the sells lower their price until they meet? I see this as a game of chicken.....somebody has to move in order to make something happen. Correct or totally wrong?
You got it!!!!!!1
Johnny, that helps to understand some....thanks!
One time I remember thinking the share price was going to drop prior to open. I needed to protect my investment at the time so sort of panic'd with a sell order. I forget the prices but for the sake of arguement let's say it closed at .40. After hours it had dropped a cent or two already. Then I sensed it was going to drop more during PM and maybe more after market opened.
Since I thought orders were based on "timing", I put in a sell order early in the AM before PM stats came on line. My thinking was that this would put me "in line" ahead of many other people who might be waiting to see what PM action was. Wanting to make sure my sell executed, I put in a limit sell at .34 for instance, figuring that it would execute higher than that but probably not clear up at .40 where the previous close was. I was expecting to be closer to .40 than to .34 however b/c I got my order in "earlier" than most......so I figured.
Unfortunatley, my sale executed at like .35 so I was unhappy with that. I rebought later for about the same price so no-harm really.
This is where I was really confused regarding how these things execute.....especially during AM or PM or even over-night bidding. What I'm hearing here is that "timing" really doesn't matter so much does it (unless the SP is going to blow through a number so quickly that your order gets missed)??? Do orders simply execute based on the two closest buy/sell orders at that particular moment?
I'll probably never be a day-trader!!!!! Thanks guys.
You got it!!!Quote:
Originally Posted by RU Sirius
BTW, my Yanks beat your Phils today. I know it's preseason but thought it would be fun to rub it in a little :) Now you probably won't help me any more!
On another topic, I'd just like to add that I did my share this year to help the auto industry and SIRI.
I bought a 2009 GMC in January and am absolutley loving the fact that XM is fully installed. Can't believe that anyone with a new car wouldn't want to activate their subscription forever. Nothing better than having all the sports, the talk radio, CNBC, etc, etc. I bought XM a few years ago strictly for the MLB package. I used to tote my old mobile XM unit back and forth between my house and my car so I could listen to MLB during my hours of sitting in LA traffic after work! I love not dealing with all the cords and plugs, etc. now that I've got it factory installed in my new car. That is the whole reason that I started playing with stocks and especially with SIRI. This is a product that I believe in to the utmost and I can't believe this baby won't run up higher and higher. It's essentially a freakin' monopoly for Christ sake!!! We've got a good thing here.....just sucks that we're being held back. Good times ahead though.
Ok, if I know understand this concept........how do you look at level II and understand which way it's going to move? Isn't it a guess as to which side is going to blink first?Quote:
Originally Posted by JohnnyIrishXM
these days, you know which way the stock's going to move based on the number of 100 share orders are on each side. more on the bid side mean the MM's are walking it down. more on the ask side, they're walking it up.Quote:
Originally Posted by RU Sirius
rarely they lose control and we get a pop, but that's only when there is a great deal of volume. days like today, they do what they want.
it's best not to watch, or you'll end up VERY angry and writing letters to people who laugh at you. we've all done it, so don't feel bad. :)
Got it, King. That makes sense. Thanks. Yes, it is frustrating....I've spent way too much time watching that damn thing the last two weeks!
Don't think you can really make heads or tails of anything in AH can you? Just wait to see what it closes at come 8 pm EST huh?
Nah...don't feel stupid...it's just new. And, it's counterintuitive in a way. But, mostly because I really don't understand the function of MMs other than the formal definition that I've read. Why they would try to keep SP down doesn't make sense to me, nor does the various explanations on how they actually do that. But, that's okay. I'm not trading on the small variations, so it doesn't matter to me personally. I do appreciate that it is critical for those who day trade. They have to be on top of this stuff to make sure they don't get burned, and more hopefully, can make a daily profit, even on small fluctuations of SP. I would love to see this thing continue to rise week over week, but what I have learned here is that it is highly unlikely because big money is still on the sidelines. Not only with respect to SIRI, but in the stock market overall. I think we're starting to see the $ flow back to equities, so those of us with a lot of SIRI are tee'd up for a big win, assuming SIRI moves in the right direction as a biz....which I believe (and have gambled) they will.Quote:
Originally Posted by RU Sirius
MM's(market makers) are brokerage houses who are authorized to conduct trades,alot of their clients are mutual funds,hedge funds and financial institutions who trade in millions of shares daily(think huge commissions)they all fight for their bussiness,so if a big boy says get me shares at this price,it is their job to do it or they lose their bussiness.so right now we have some who won't sell for less than .36 and those who won't buy for more than.33.Quote:
Originally Posted by underway
Hence when looking at level2 you will see 100 share blocks at .34,.3378,.3350 so forth to get the price down to get their peoples shares in,but now you have other MM's doing the same on sell side....hope this helps..
Yanks are Yesterdays NEWS RU,,lol just kidding,hoping to repeat this year!!!Quote:
Originally Posted by RU Sirius
Good explanation.......now I understand Brandon's comments this morning regarding the several million shares at .30 & .31 and why he thought we were going to head in that direction. Very clear explanation....you're a good teacher!
Haha. The Yanks have been yesterday's news for 8 years now! I tried to tell people that they aren't "buying the world series" but nobody would listen! :rolleyes: Phils will be tough to beat again....good team. Good luck this season.
As for the level II.........I used to think that a bunch more sell orders or big blocks of sell orders was a bad thing. Logically I thought, "many people want to sell.......price is going to go down". Now after reading your guys' comments this afternoon I guess that a lot of large blocks of sell orders is actually good (in theory) because the MM's will try to move toward filling those orders. Is that correct? I'm sure it's not as simple as that, but I think I'm starting to understand better. Thanks again.
Really, isn't it just a big game of tug-o-war between the MM's a lot of the time?
If they have some large sell orders several cents above our SP that they need to fill, won't they manipulate the SP "up" sometimes too? Just wondering if they actually "help" occasionally or if they are always the devil!
Oh most definitely they help as they have helped to get stock price up from .13 to .43 2 weeks ago.they are helping now by not letting it go below .32..watch level2 tomorrow and you'll see sell side doing the same thing as buy side,which is why we have stayed between a 1 cent channel basically all week...
Ha! Is it fair to say that we are too hard on the MM's then?:p Just trying to be objective. The fact that what they do is deemed illegal is enough to rag on them.........no matter if they help or hurt.
Just wondering if we are being hypocritical sometimes! To get mad at me for that Brandon/Relmor !!! :)
asm610, thanks for the info. The next BMW-dealer is more than 150 miles away. My youngest daughter turns 16 this summer and she is going to get my Mustang and I was thinking about a BMW 330 for myself.
Quote:
Originally Posted by asm610
no there is definitely illegal manipulation going on with this stock and many others...some on here,Brandon,relmor Demian,John and others have documented it.they have been seen putting up 100 share orders to buy at say .3348 and the next order in line is .3460 buy,to stop it.illegal!! it has to do with the shorts,which is another long story,that is going on here for about 9 months...But basically i don't care about the manipulation because they are just trying to scare the samll investor into selling his shares,which is what the big funds need to take a stake in sirius.I know this stock is now fundamentally strong now and heading north,which the manipulator;s will do with it when they are good and ready to...and i'll be right there with them!!!
Hey Johnny, you are right, we all should stay strong and be ready. The only question is, when will they be good and ready ? Do you or anyone else has an idea what could be the iniation ?
Quote:
Originally Posted by JohnnyIrishXM
Johnny after reading this thread and following for several weeks now you have cleared up so much of what confused the heck out of me. Thank you for answering all the questions today and making us novices a lot more knowledable.Quote:
Originally Posted by JohnnyIrishXM
im typing from my phone so cant post well...but do a search for sprint dropping certain sprint tv channels and music channels, might be something interesting...i was reading a sprint users site....