RE:Huge Ask OrderKapachu wrote: I was monitoring the Ask/Bid's this morning and around 10am someone opened a ask order valued around 9 million cad @ 4.35 and then modifed to 4 million cad @ 4.30. I was about to sell because I thought this might have been serious. I was surprised the market didn't even care and people kept buying. My opinion is profit takers been selling like crazy last few days, many people got trapped at higher prices and holding. Now volume hit the breaks.. Most professional traders know what that means.
I saw it too, it last about a minute. But in reality, it was $900 thousands, not $9 millions. That means we got a big guy with over 200 000 shares that is bringing us down to buy some more before the next run up.