I really got started in the early '90s MM is basically another word for criminal, anyone who has followed the market to any serious degree knows that. If you are a MM and don't make money you basically have to be the biggest idiot on Earth.
...wants nothing to do with the stock market and probably rightly so.
In the AMCO case, one person (the NYSE specialist) sets the price 90+% of the time. Currently, he is obsessed with driving the price lower because he wants to buy (to first cover his shorts and then get long if he can). Keep in mind, he is probably not selling anything himself, he just sets a one-sided market. Tries to show a lot of shares on the offer as much as possible, while almost never supporting the bid. That's all it takes to get the price lower.
It's either that or it makes logical sense that while the news surrounding AMCO and its near-future looks better and better, that stock price should get cheaper and cheaper.
I thought it was strange that they released on a Friday night also, it seems to me that's almost never done for earnings and only for bad news.
I already have nice-sized position so don't have to buy more but might add a few in the coming days after I finish a relocation that I am in the middle of.
...problem is no one knows about this stock. I almost didn't buy this simply because of the lack of exposure myself.
Think any sellers at this price regret it. Doubt the 5M share volume day was a one-time thing and hasn't made people aware of this stock. Have to be positioned ahead of time as this will gap-up or move up considerably at some point.
Thanks for SHO info - that kind of figures. With all the buying the other day, the specialist trapped himself by selling short too low, it would seem. Probably a decent number of new holders in this (including myself). Will they continue to panic-sell and bail the specialist out or hold and force him to cover higher?
SHO is a total scam the way it facilitates MM naked shorts and doesn't require them to be closed on anything approaching a timely basis.
I think nearly every stock has the manipulation issue - nice little scam the MM gets to run, isn't it? You can see heavy volume come in to drive the stock up .10 and then if there are temporarily no bids, MM can sell a few thousand and the .10 gain is gone.
5M volume means something - and as soon as the MM deals with the extremely weak-minded holders (due to past traumas, either here or elsewhere), there should be some very good days ahead.
Watching this all day long, it's easy to get fooled and believe selling is a good idea...
My question would be: how many people are in this stock that want to give it away for next-to-nothing?
This stock has massive potential upside and that's even if daytraders don't get a hold of it.
Where are you, stock is now back in uptrend for the first time in 7 or 8 hours...you must start selling stock into the market to halt the rise, as you usually do.
...looking to add more if this somehow moves toward 1.40 but not counting on that.
I will have to research this more but I see they made .26 last quarter. If they can do that year-round, we are talking about a current P/E of 1.5!
Instead of being a trade, this looks like it might be a medium to long-term hold, eyeing $10 somewhere down the line.
...easily worth $3-4, just a matter of it being discovered. We'll see if today puts this on people's radar.
No problem at all, lost only a small amount of money considering I've been in this stock 80% of the time since last May.
I may or may not get back in if this goes lower - but honestly am sick of management doing next-to-nothing to support the stock.
Almost certainly won't get back in, if this somehow goes higher.
Sold my 18K shares just under 3.50 today (not the best timing but still a small gain on this particular trade).
Can't fight these guys - they know their almost total non-support of the stock with their continued silence will cause the stock to go lower and lower but yet they say nothing day after day after day. Who needs it?
If the stock could at least hold at 4.00, fine, they can get away with it to a degree. But, not surprisingly, the stock finally broke down as it has to move one way or another and they didn't give anyone any reason at all to buy above 4.
Five more days until earnings, maybe this is low enough that the carnage stops here but I am doubting it and decided not to wait around to find out.
Also, thinking that part of the reason they never say anything is they don't have anything good to say and that will be revealed next week and then NQ is probably making new lows between 2.50 and 3.00. If so, maybe I will buy back in, as crazy as that sounds.