I do not watch it on a regular bases.Here more than lately because I've decided to trade a little more than in the past.Here's my point.In the last week,I've seen mysterious bids/sells appear and disappear in the blink of an eye?!?! Big and small.Most 200 share allotments. I'm not one to accuse of manipulation,BUT! I am beginning to wonder. Thoughts anyone??
It is significantly obvious that someone with deep pockets is pegging this at $3.50 or below, sometimes using large market order sells (100k shares yesterday afternoon), for whatever reason. It will take some muscle to wrestle free from here, but I expect that when it does we will shoot up substantially (over $4.50).
I suspect that the reason for 3.50 is that it doesn't have to be higher to find some sellers. They grabbed the little guy by the ankle hoisted him up upside down and are shaking the nickels and dimes out of him. Howarth refers to this as dumping by Moms & Pops. Very perceptive.
That is all the algorithmic program trading. No-humans involved. The shares simply populate the level and leave based on whatever the programmer criteria. AND...that criteria for the algorithm is more often based on outside factors beyond just the equity you are watching, so that makes it appear to be nonsensical. Beyond that...there are certainly HUMANS placing and removing bids based on their desires as well. A posted BIG BLOCK placed because the trader wants to buy or sell shares in the opposite direction is pretty common. As is leaning on stocks when they are selling off and pushing bids when a short squeeze in underway. Trend of the stock is what I look for during any time frame. The shorter the time frame the harder the determination. I'm sure you know most of this....but I just wanted to put it all out there for any timid souls who read but never ask.
I tried to add to my post after reading it and Yahoo spazzed out(imagine that). I was going to mention it looks as a ping-pong battle amongst a few traders.Same ID's keep popping up. Who knows?? Maybe when the SEC gets thru watching flic's, they'll investigate.LOL!!