Some idiot probably put in a stop at 7 11/16. When MM's see this they usually go stright down and pick it up and then go back to the trading area. I have never understood people who put in stops. The MMs are not going to let them sit there if its a bargain. 9 times out of ten you lose money with stops.
FGDDD, Thanks for your reply..the way i understood stop order differently..I trade with Brown & company..They told me in today's insident if you remember stock was trading 8 3/8-815/32 range.I was watching on screen & @ flash went to 7 11/16 It can't be possible according to NASDAQ..rules stock bid price has to be trading in that range...some thing is missing here..or some body got screwed...you/or some body can explain..EOM.
I know that my naivete is showing, but your post on stops really grabs me. Are there no protections against that happening? I do know that my own few experiences with stops have never been very beneficial. I mean every stop I placed got hit, but I also had the idea the stocks traded thru the stops. In this case today of 7 11/16 I can see that it looks just like you say. Do the MM's have free reign to just dip down to any stop they see? Doesn't that mean they have to abandon the higher bid position they've posted? I'll be most interested in anything more you can add on the subject. So much to learn; so little time! Thanks.
Over 6 weeks ago, I told all of you that IFMX was a great buy at 5 1/2 and that a source close to me at IFMX said the stock would be at 10 by year end. I also told you all that there would be announcements that would get the attention of the street. I don't post often, but here's the scoop:
Next week (because options expire tomorrow and the managment doesn't want to make the many option players too rich), the company will make several "very important" announcements. These announcements should sit well with the street, and institutional players "may" or "are likely" to reenter the IFMX buyers club. As I said weeks ago -- the stock should be at 10 by year end -- only 2 weeks left. Any bets?
My sources were pretty much in line with yours however I never had or would attempt to set a price target as too many times in the past I have been completely wrong as to the timing and degree of price movement. However I did increase my holdings by about 120% in the middle of November. Am very thankful so far and this could be a great X-mas!
There is still much short term upside left in this issue.