...by the specialist right now. I really hate to belabor the point but that's pretty much the entire story at the moment. Specialist basically has made a one-way market the past three days, never supporting the bid and often sitting on the offer with fake sell shares designed to force the stock price down.
They even sold some at 19.44 in AH - doing whatever possible to create doubt in the minds of longs - probably was 100 shares.
Have to keep in mind that there is no greedier entity that the specialist and he won't hesitate to run a crooked market to ensure his success if he can get away with it - and of course he can most of the time.
Couldn't agree more. I asked the question a while back regarding why GRU listed on AMEX instead of NASDAQ. Must have missed requirements. Anyway, after watching this I am instituting a new trading rule for myself. NEVER TRADE AMEX LISTED STOCKS. It is now rule 11 in my trading journal. Way to go AMEX.