>>But they can buy for clients and how do we know that they are not generally doing that when they have a bid or ask on level 2.
So if they can buy for clients, why are they not there? Please clear up my confusion before I take a rest. You know a million times more than what I know about this.<< The first thing that happens when they get in discussions is that the stock goes on the restricted list at the firm.
THAT MEANS THEY CANNOT SOLICIT ANY TRADES FOR THE STOCK BUT THEY CAN FILL UNSOLICITED ORDERS. BOTH THESE FIRMS HAVE WELL HEELED CLIENTS WHO PROBABLY DO MARKET OR MARKET NOT HELD ORDERS AND YOU WOULD NEVER SEE THOSE. OF COURSE IF THE CLIENT PUT IN A LIMIT ORDER THEY COULD/WOULD SHOW IT.
SORRY ABOUT THE CAPS BUT I MISS ener50! PROBABLY OFF HUGGING A TREE ON A NICE DAY LIKE THIS. IT REALLY DIDN'T SOUND LIKE HE BLEW OUT HIS POSITION THE OTHER DAY, ALTHOUGH THERE WAS A BLOCK ABOUT THE RIGHT SIZE THAT TRADED DOWN RIGHT AFTER THAT.
I ALSO MISS YOUR FLY ... ER...EH... YOU KNOW WHAT I MEAN.