It's simple to do if you have the resources. I think it's called "market maker" in the investment world.
Essentially if a market maker has the ability to buy and sell in large share blocks, he can place a bid and ask at the same time. If either one fills, he is still good, he just has to wait for the other to fill and he's made a few cents per share on the bid/ask spread.
If you do this a couple times a day you can make pretty good money.
Now in the case of LOGI, this investor may be using the bid ask orders to simply keep the price confined in a range which helps his position.
Either way it kinda sucks for those of us who are long. I'm just using it as an opportunity to accumulate more. Did the same thing with INTC and have done very well especially with the dividend as an added plus.
This morning ... 5 blocks of 1000 on bid at 10.23... 5 blocks of 1000 at 10.25 on ask.
I throw in an ECN buy of 1000 shares, it fills... and then all those blocks disappear from both bid and ask for about 60 seconds. Then they're back at another price set. I played that game 3 times this morning every time it was the same. As soon as I hit the button to send the order to ECN, bid and ask would shuffle far more than my trade... and sellers / buyers would disappear.
That's not natural order behavior and whatever they're doing is disrupted when legitimate orders go through... so they get out of the way and wait for the trades to stop so they can play their game.
i find this hard to believe. how many share are we talking? If he is trading millions of shares buy/sell then maybe? even then, why would that continue to bring it down only. it should break even if he is trading the same amount of buy/sell shares. provide an example plz.
Just follow the action in the pre-market every morning and you will see clearly that it is one person controlling the trade with identical bid and ask quantities a few cents apart, that he gradually moves up or down as the morning progresses to achieve his desired result. I imagine his reasons for doing so are the same as anyone who manipulates stock prices, to make more money. This person has a large stockpile of stock and cash that enables him to do it. I believe he will let up soon as we just completed a double bottom at a two-year low just above 10, and earnings will be reported in two weeks.