I got the goods. We are being gamed by EdgeEx, a market maker. They are running bids through an ADF (alternative display facility) which prevents their orders from being displayed. I have been setting a trap for over a week now to see if I could catch them in the act. It happened at 10:33:51. I cannot get into the trade specifics because they are going into a letter to the SEC and a call to my securities attorney. But for sure, there is illegal trading activity taking place!
I see EDGX is on bid @ $5.10 for 2000sh and @ offer $5.15 for 200 ... .. the $5.25 NSDQ was 10k sh yest and day before also ? now half that ... plenty of shady action here .. all of us longs should just set our shares for gtc sale way higher/out of reach ..
good dd thanks... ok so that mm is messing with the stock but for WHO ? tied to FA I assume ? vol too light here for random manip if not to benefit a larger interest .. keep us posted , thanks very much
It could well be the mm itself. It gets very complicated to explain how to recognize a cheater. There are numerous exceptions institutions can use for not filling orders. There are ways to write orders so only a very few exceptions can apply. Those limited number of exceptions being employed usually point the way to the abusive entity. I went through enough evidence with the brokerage trade desk that they themselves told me this situation looked "odd" (that's about all they CAN say).
A full complaint/report has now been filed with the SEC. I have to wait for the attorney to call me back (what's new), but I suspect they may put a little heat under the SEC to try to speed up a review.
Purposely manipulating a stock is illegal under any and all circumstances. Results of a positive determination of attempted manipulation can range from fines, individual and class action lawsuits, to prison. Though this stock is a very small holding in relation to my portfolio, I will spend the time hunting down those who would scheme to cheat the system.
I'll be happy to pass on any other info as it becomes available. Keep the faith,