PRD Energy Inc PREGF

RE:RE:TD buying

[Caribbeanman]

It was on level 2

And it was a typo, they bought over 200,000 of the 280,000 or so, sold that second day.

No, it doesn't make any sense at all that anyone would jump in an pay any price to acquire shares, when all they had to do is engage in selective buying. I estimate they paid in excess of $20,000 more for those shares then they should have paid if they had just waited a few more hours and did it systematically.

Frankly if it was one individual, it surprises me that with enough acumen to have $200,000 in disposal income to toss around on a high risk investment that they would be so stupid as to pay far more for the shares than they should have.

It does give me pause to consider what happened and why.

Someone else got caught with their pants down. The stock actually went to 67 cents that day. Oil fell 2%, no news and the stock rose 40% in 30 minutes of trading. In the case of the two guys who bought 2000 and 1000 shares respectively, I'd just say they had the dunce cap on when they made the trades and hit "market" instead of limit. They saw the shares trading at .48 cents, went and got a donut, then made their market order request. Without realizing that someone had cleaned out every share on the ask past 60 cents in minutes.

No, I'm certain it wasn't being privy to information.

What I do believe may have happened is a sell order came out from a letter write that same day for another oil stock and sellers in that stock, switched to PRD.

There are other reasons that a stock would go up like that without news, but I'm not going to speculate on that.