are you saying that those last 2 trades were sellers?
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are you saying that those last 2 trades were sellers?
You are partially correct, there's a buyer or seller and a market maker. When you are a seller the market maker acts as a buyer, when you are a buyer he acts as a seller.Quote:
Originally Posted by Demian
The market maker seeks to bring order to the markets. Unfortunately for the last 2 or 3 months there has been only caos, irrational selling... NO BUYERS. Where do you think the shares of the sellers go if there are no buyers ??? Who do you think sets up the price of the stock ? you ? me ? SiriusHope ? NO, NO, NO. The price is set by the market maker and he buys or sells the shares from or to you.
If the market has a lot of sellers and no buyers, the market maker will lower the price of the stock to discourage selling and encourage buying. The opposite is true if there are too many buyers and no sellers.
If he is unable to find buyers he gets stuck with too much inventory of one stock and at the end of the day he has to rebalance.
Market Makers for Sirius ? i.e: Goldman Sachs, Merrill Lynch, Morgan Stanley. Buyers & Sellers for Sirius: Institutional (i.e: Fidelity) & individual investors.
I hope my short explanation is enough. Please let me know if you wish to know more.
PS: if you want to see who's buying and/or selling get a trading software with NASDAQ level II quoting system.
There you will see who traded what. Goldman Sachs is a big market maker for Sirius.
Thanks siriusowner for your explanation.
Read my previous post. Market makers are not illegal.Quote:
Originally Posted by Demian
Get a NASDAQ level II quoting system.
This is the only time i ever bought stock on suggestion of a friend because of merger potential. No need for me to purchase a nasdaq II system.Quote:
Originally Posted by Siriusowner
after hours had 2 trades
16:27 $ .23 654,200
16:26 $ .23 241,596
were they buyers or sellers?
Don't get it. The software is for professional traders and investors. The cool thing about it though, is that there, you can see the market makers buying and selling to rebalance their inventories and you can see orders from Goldman Sachs, Merrill, Fidelity, Morgan, etc...in the seller side as well as in the buyer side (I forgot to mention that the market makers not only act as a market makers but they too trade large blocks of stock).Quote:
Originally Posted by SiriusHope
Buyers. Now the price went up to 0.2388.Quote:
Originally Posted by SiriusHope
Siriusowner...What is your prediction where the bottom of SIRI is at?
You are asking me the $1,000,000 USD question.Quote:
Originally Posted by SiriusHope
My analysis is as follows:
It seems to me that a bottom has been forming around 0.25. I know today it went below that but I seriously doubt that eventhough 0.25 is 5X book value, the stock will go much lower.
Mel did a good job in projecting the future and selling that to the media. If he can refinance, I do not doubt the stock will start climbing ( therfore there will be buyers for the stock).
I would not add to the position though. Wait until after the next earnings announcement. There we will have confirmation if the company is in the right track.
Thanks for your explanation and advice not to add to my position. I have 11,100 and wanted to add another 3,900 but now will wait. My avg now is .97and with addt'l shares can avg down to about .77
This is the best deal for level II that I know of. The link for it is at the bottom.
Even if it isn't something that you need or wouldn't use it is very interesting to watch if only for a month.
Level II - A window into the liquidity of NASDAQ stocks
Level II shows you the best bid and ask prices for each NASDAQ Market Participant. With Level II you get insight into what is happening behind the real-time quote. Color-coded price tiers and dynamic Depth Chart help you visually understand the market.
Quickly spot imbalances on the Bid or Ask side
Identify market participants offering the lowest bid-ask spread
Track Market Makers and ECNs to see who the major players are and if they are buying or selling
ScottradeELITE offers Level II for FREE with 10 commissionable trades per month. Otherwise, it is just $10 per month.
http://www.scottrade.com/scottradeel...q_level_II.asp
The problem with Level II is that there is so much deception going on. They will pull their bid and asks before they ever get filled. Level II is not to be trusted...
Demian - There is no one to be trusted in Wall Street, not even your investment advisor (Fidelity ? Charles Schwab ? ... mmmh) ! You and I as small investors have the short end of the stick ! The only thing we can do is mitigate the disadvantage. NASDAQ level II quotes will not eliminate the risk but mitigate it by showing you what is going on... and yes, it can be manipulated, although that is illegal (manipulating the data to get a benefit is illegal, creating it from day to day legal transactions is not).Quote:
Originally Posted by Demian
PS: I am not recommending anything though. Please take my comments at your own risk.
After Hours Trade Reporting
After Hours
Last: $ .24
After Hours
High: $ .2486
After Hours
Volume: 1,143,686
After Hours
Low: $ .23
WELL WELL WELL.. THOSE DAMN SNEAKY BEARS TRIED A BEAR ON US TWICE TODAY!! :annoyed: IT WAS VERY + THAT WE HELD UP AND CAME BACK AT 2:30 AND AFTER HR WE ARE .24.. JUST STAY STRONG THE BEARS, ARE WANTING TO TIP THIS STOCK OVER THE .22 REAL BAD (IT WOULD PUSH US DOWN TO .15 QUICK)..
I AS A FULL TIME TRADER HAPPENED TO BE PEAKING AT LEVEL 2 .. WHAT HAPPEND WAS THERE WAS A HEAVY HIT ON THE BID AND IT SAT THERE BEING REFRESHED TAKING OUT ORDERS AND DROVE US DOWN TO .23. THE COWARDS WERE TRADING ON THE ARCA WITH 10 MILLION SHARES STAYING THERE TILL IT BROKE:annoyed:
WERE THE F#CK IS THE UPTICK RULE.. THIS COULD BE ONE OF THE MOST MANIPULATED STOCKS I HAVE SEEN.. SAD WHEN SIRIUS XM IS A GOOD IDEA AND GREAT STORY!!:thumbup:
WAR // NO GM BAILOUT, STEELERS POUNDING BENGLES AND THE BUCKEYES SPANKING MICHIGAN:thumbup:
I understand what you are saying, but I have found Level II to be almost worthless with all of the fake Bid and Asks. The only bid and asks I pay attention to are the ones that actually go through and get filled - and I have a hard time trusting those...Quote:
Originally Posted by Siriusowner
Wise decision. I do use NASDAQ level II to see the market depth when I trade (which is not often these days). It helps me see if there are more sellers or buyers.Quote:
Originally Posted by Demian
In the trendline you should trust and nothing else ... 13-day, 50-day and 200-day, and what do they tell you?
I would add that you can't bank on intraday moves, or on chart patterns, or on fundamentals when it comes to SIRI's behavior. The stock is just whacked--totally manipulated to its current level. But you can trust good old trendlines. Unfortunately you can also lament the negative divergence between them and the stock price. The trend itself also sucks like the black hole that theorists believe will be caused by the LHC (Large Hadron Collider) in France.
BTW, regarding getting Scottrade's L-II, it comes with Scottrade Elite, which requires a $25K account balance--unless you ask nicely....
Long SIRI.
Who can trade that early? First pre-market trade at .30 a share?
Pre-Market Trade Reporting
Pre-Market
Last: $ .23
Pre-Market
High: $ .30
Pre-Market
Volume: 200
Pre-Market
Low: $ .23
Pre-Market
Time (ET) Pre-Market
Price Pre-Market
Share Volume
07:22 $ .23 100
07:21 $ .30 100
1