Does anyone know what it means when you see a sell or buy go through for pennies:
100 200 300 400 500
I know its the MMs, but do the certain range of numbers mean anything??
Posted by jack85 on :
Supposedly these are what they mean
100-I need shares 200-I need shares badly but dont take it down to get them 300-Take the price down to get shares 400-Trade it sideways based on Supply and Demand 500-Gap One way or the other, usually to the direction of the 500 trade
I dont know how accurate/true these signals are being that pennys are volatile
Posted by Phoenixx on :
I think it's just daytraders trying to start something. Dont you agree? I mean, if you get enough people believing something, why not manipulate them? Besides MMs can just pick up the phone if they need something done...
I used to believe in MM signals til I heard a site admin mention they used to know a MM and that it was all rubbish..
<shrugs>
Posted by macdrsirules on :
I do often wonder what the less than 1000 share transactions are for micropennies, dont you guys? Do you really think someone would buy or sell 500 shares of a stock that PPS is .005? I could not fathom that.
Posted by metal1 on :
the small orders could also be part of a larger order.