Interesting trading today. Most trades are 1000 plus, only a couple of 100/200 share trades. The stock is not going down on the volum trades ie 21,000 12,000 etc. That is a good sign. For the past few months a buy at 10,000 shares would immediately be followed by a 100 share sell and the stock would be right back to where it started, not so thus far today. Lets hope the trend holds.
Hi White! I have only used a Market order a few times in 40+ years...I avoid them like the plauge. I would only give them bid or ask price if I needed to move a really large trade RIGHT NOW and felt trapped by low volume...if a large block comes up and I'm worried I'll miss a move I will consider nailing it. Too often I see Traders miss the opportunity for a trade by waiting for a certain PPS...I tend to look for potential moves about to break and so don't worry too much about a couple % trying to call the absolute top or bottom. All said by the guy who blew off the last few trades here cause I don't think this stock was worth the risk @ over $2./share lol! To each his own. ;) JMHO! GL2A! Cuda
Somebody is pushing the stock in 1000 share blocks to buyers ... this is allowing the folks who are holding the last of the big stakes to get out providing for a who new round of little guys to be left holding the bag. YOu did notive that when the PPS hit 2.19 there was a block of about 19K that took it right back down to below 2.00 and that there had to be a whole rebuilding of support to get it above 2 ... and that a lot of work had to go into keeping it about 2 throughout the end of the day. The only thing that is going to help is going to be some positive news from the company ...
The PPS merely jumped to 2.19 because two purchases were made at that value even though the stock was around 2.08 at the time, most likely during the rush at market opening someone clicked Ask as the numbers began to flood in, and perhaps then quickly hit buy without realizing that there was an unnaturally high ask price out the door. After that, no one else was even considering bidding that high of course since it was merely a fluke. It then went back down to what was the normal bid and ask, and after that, it actually climbed again because the unnaturally high purchases at the start set a good daily High that might as well be an illusion.