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  1. Paratrooper_Rick is offline
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    Joined: Feb 2009 Location: In the trenches taking aim Posts: 634
    04-03-2009, 02:37 PM #161
    Quote Originally Posted by benchwarmer View Post
    Brandon,

    http://www.investorhome.com/daytrade/spread.htm

    Thanks that was very informative...
    Why would the MM want to hold the share price down? I often see people in this forum complaining of manipulation at a certain price point. (.36) yesterday and today..
    Bench - it's really simpler than it sounds...

    They basically wall off the SP each day between a range - which they control... then they move it lower and buy..... only to raise it a cent or two and sell...

    It's how they make money... and because they manipulate so many shares - it's relatively easy for them to do it.

    We'll see what happens when they reinstate the uptick rule....

  2. Brandon Matthews is offline
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    Joined: Aug 2008 Location: Northeast Posts: 721
    04-03-2009, 02:40 PM #162
    Quote Originally Posted by benchwarmer View Post
    Brandon,

    http://www.investorhome.com/daytrade/spread.htm

    Thanks that was very informative...
    Why would the MM want to hold the share price down? I often see people in this forum complaining of manipulation at a certain price point. (.36) yesterday and today..
    Because of the spread. If they are buying at .3590 (from sellers) and selling at .3510 (to buyers) they are losing money.

    By ignoring the sell side and just filling buy orders, they bring the ask price down to below where they bought the shares for in the first place, thereby profiting off of both sides of the trade.

    They buy from real sellers only when they need shares for their own accounts.

    That was this weeks agenda anyway...

  3. Joeboo1 is offline
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    Joined: Feb 2009 Posts: 93
    04-03-2009, 02:42 PM #163

    The tool with a limit order at .01

    I cant believe on level2 it shows some tool trying to buy 2000 shares at .01. Am I crazy or is this the opposite of what Brandon talked about with a 5.00 ask?

    If someone sold a million shares at market price could it be possible that this guy could pick up his 2000 at .01? If so maybe he isn't such a tool.

    Just wondering

  4. airman is offline
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    Joined: Mar 2009 Posts: 237
    04-03-2009, 02:42 PM #164
    Quote Originally Posted by doobz26 View Post
    I put my sell order for 100,000 shares at $1.02 a while ago. It's good for 60 days...I think that's reasonable. (i can only have one order open at a time). Also... commision i'm paying on penny stocks is insane. If it's over a buck my trade will be commision free. So.. I'm just leaving it alone till she hits a buck.

    Odd. Mine with schwaab is just opposite 12.95 + .015 per share over 1000 shares when over $1 and 12.95 flat when under $1. If over 120 trades on the year(or 30 trades in calender quarter) or over $1M balance then flat 8.95 period.

    It makes more sense for me to sell in 1000 share chunks when over $1 until I get to 120 trades.

    Who do you have? others chime in on your rates.
    Last edited by airman; 04-03-2009 at 02:53 PM.

  5. underway is offline
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    Joined: Mar 2009 Posts: 521
    04-03-2009, 02:45 PM #165
    Quote Originally Posted by Joeboo1 View Post
    I cant believe on level2 it shows some tool trying to buy 2000 shares at .01. Am I crazy or is this the opposite of what Brandon talked about with a 5.00 ask?

    If someone sold a million shares at market price could it be possible that this guy could pick up his 2000 at .01? If so maybe he isn't such a tool.

    Just wondering
    I think you're right. Bottom feeding to perhaps pickup shares on the cheap if not enough shares at higher prices available to purchase, and only thing pending are 'market' as opposed to limit shares. I don't know the rules and all that, but it makes sense. But....if that were to actually happen, would that set the price at a penny? That part doesn't make sense. rats. confused...again!
    Last edited by underway; 04-03-2009 at 02:48 PM.

  6. Joeboo1 is offline
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    Joined: Feb 2009 Posts: 93
    04-03-2009, 02:50 PM #166

    Google ticker

    Another question for the experts out there. Why is it that in the news section on the Google ticker there are organizations sending "Stock alerts" for Siri everyday even on days when the stock has been flat. Aren't the alerts for high volume, volatility etc...? Not saying its a bad thing for us to have Siri included but where do they come up with this?

  7. siriuslyxcited is offline
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    Joined: Mar 2009 Posts: 16
    04-03-2009, 02:50 PM #167
    just put a sell in for 36,910 shares at 1.41.....hope it helps F with the shorts...and get filled*

  8. doobz26 is offline
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    Joined: Mar 2008 Location: Michigan Posts: 104
    04-03-2009, 02:56 PM #168
    Airman,
    My account is with Wells Fargo. I get 100 free trades per year but penny stocks don't apply. For penny stocks there is a minimum commission of something (can't remember) or 3.5% of the prinicipal (i think), whichever is more. Nice..

  9. imromo24 is offline
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    Joined: Aug 2008 Location: Steeler Town, MI Posts: 2,524
    04-03-2009, 02:59 PM #169
    Lmao +0.0004 (0.11%)

  10. Beach Gambler is offline
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    Joined: Mar 2009 Location: On a cushy beach chair! Posts: 383
    04-03-2009, 03:00 PM #170
    I just put in an ask for 55,555 shares at 1.73 and I do not even see it on my level 2 thru ETrade

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