Medicago Inc MDCGF

RE: do not get fooled

[Indicator]

I'm sure exactly what Jentai saw as I wasn't watching MDG at the close yesterday, but it's worth noting that orders that get filled but don't show any affect on the BID or ASK market book (level2), they are frequently filled in another exchange. 

I recently had this conversation with my broker who informed me that the TSX does not supply market depth data for other exchanges, hence, if you are watching market depth as an indicator that your order is filled, and your broker shows it as filled, yet the market depth does not change, it is likely because there are more orders sitting on the BID or ASk from other exchanges that are not being recognized by your market depth and your order took one of those out.

That said, painting the tape is a common phenomena especially on low volume stocks.  It is done by placing small buy or sell orders frequently in the seconds of trading, making it look like a stock is weak or strong, depending on the aim of the Tape painter.