Where do you people get $32 from? It dropped to $32 pre market and for a few minutes after the close, but then rallied big. Even at the time of your posts, which was around noon pacific time...the price was at $44!
You guys have to get a better quote system, or you are gonna lose big. If you sold this morning at $32 you missed a big rally. I posted here NOT to sell, because the quotes were off, even on the level II system. The bid/ask was around $46, which put us down about $2, but the pre market prints were still coming off at $32 which gave the false reading that we were down $15!! Hopefully everyone hung in there. Let's see what tomorrow brings.
Yes i realize $32 was the dip. I went back and read my post and it reads as follows: "TIBX was at $32 premarket and for a few minutes after the CLOSE". I screwed up, that was suppose to say "a few minutes after the OPEN".
The point I was trying to make is that a few minutes after the open, there were still tons of $32 prints coming off, and a stocks valuation for the day changes as each print comes off. So wether the stock is + or - at that point in the day depends on what the last transaction was. The bid/ask ran back up to around $46, so we were only down about $2. But the prints kept coming off at $32 and TIBX was still reading that it was down $15.
This is not uncommon for the first minute or so of the day, as the prints from the night before print out real fast. It was very strange and unusual in this case in that it lasted for over ten minutes, and that was on level II. People who dont have access to level II, who get delayed quotes would have seen that we were down $15 for yet another 20 minutes or so. They might have thought the bottom was falling out and sold, only to find out it was really back to even. This is why I posted that info on the board early yesterday morning, to keep people from selling due to false information/bad prints.
My second post was aimed at the people that posted LATE in the day, almost near the close, that TIBX was at $32. The only time we were at $32 was right at the open. They should state that in their post. Their post made it sound like TIBX was at $32 at the time of the post.
my broker (full service) told me she thought the "prints" were "good". i.e. She told me that it really did open at 32/33 range! My golly! I do 90% of trading through Schwab, but for moments like this I have this full service broker. I am still not sure what the heck happened.
Fortunately, I'd seen your post by then and avoided a heart-attack.
Thanks for the reply. It did open at around $32 but quickly started to recover. There must have been a mass of sell orders from over the weekend because there were nothing but red (sell) prices of $32-33 printing out on the time and sales. MM's are required to print out their transactions when they happen, and you can se these in real time on the time and sales report.
This is another feature of a level II system, it can help you determine the price direction. Obviously if the bid is $32 and you see nothing but $32's printing out, you know buyers are coming in. This is an over simplification, but it is one of the tools i use to determine when to buy.
For some reason, as the quotes moved up to the $46 level on TIBX, there were still nothing but $32-33's printing out, and since that determines the current quote and wether the stock is + or -, it still showed TIBX down $15 when it was really only down $2. Thank God most people held!!! I will try and post helpful things when I catch them happening. GO TIBBY tomorrow!!