RE:RE:RE:RE:RE:RE:RE:They need to halt eldorado for 24 hoursI want to correct a few misconceptions on shorting
The shorting is not what is causing this trading range in my view.Here is what I think is happening.
Say computers on the buy side have 3 million cash. On the same side same thing but using another computer.
The bid is 1.48 -$1.49 , they manipulate the bid and ask to keep it there. When a real buyer comes in that computer immediately forces a sale at 1.49. Then that sell from the computer is transferred to the other computer to buy at 1.48 .When some sucker comes in to buy at 1.48 in then they increase it back to 1.49 and the computer force a sale at 1.49. And they make a penny(on 10000 shares its$100) each time all day. That is why you sell 1000 shares and see lots of 100 all the time like 10 of them for 1000 shares.Sometimes computers fight each other too.