Post by
stockdom on Sep 02, 2011 10:01am
Cute MM moves
I wouldn't put a lot of credence in trying to figure the mm but sometimes their slick moves too obvious.Beginning of the week etrade inside bid at 5.5 cents for 100,000 shares. They couldn't get them and the bid is withdrawn.Wednesday etrade posts 350,000 shares for sale at 11 cents. Probably looked scary to many longs.Today etrade 100k is back on the inside bid and all of a sudden the ask shows only 15,000 for sale.maybe they really wanted to sell 350k at 11 cents but it seems more likely that they were trying to scare some longs into selling cheap so that etrade could pick up 100,000 at 5 1/2.Over the last couple weeks there has been some minor buying and the sp has creeped up a couple pennies even though the difference btwn bid/ask remains wide.Maybe this minor buying means nothing maybe it means somebody with advance knowledge is taking advantage of a pretty glum situation. I am concerned about the wescorp situation just like the next long so little things like the above can help the psyche.