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SEC rule as I understand it is 4 daytrades in any 5 day period-- 5 day period not the same as a "week"-- don't know if that means trading days or not for instance.
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I'm fairly new also and not quite sure what to make of it. I think it depends on the stock. This stock in particular seems to always maintain a larger-than-usual spread, though this is the largest spread I've seen in a long while.
Some say it means its about to shoot up. But I think it could also mean that the MMs are trying to freeze the price where it is. Could be wrong - anyone else?
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I regularly place buy orders between bid/ask on stocks and on this one I have never been filled between.-- What are the MM's up to here?-- I see lots going thru between-- is this MM accumulation?
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I have noticed that the wide bid/ask has been going on for sometime, but the price has not gone down at all, but not gone up either with the exception of it briefly touching .016 today..In fact I'm currently showing .0146 as the price....I am also noticing that the volume is starting to pick up slowly as well...Maybe a run up?
Also what is a good website to visit for good DD? I'm sorry if this has been answered in a previous post, but if it has I did not notice it
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Everybody will agree that this one cannot stay with such a wide spread. Something is about to happen. Since yesterday, nobody seems to sell. Everybody is holding.
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price has not gone down at all, but not gone up either with the exception of it briefly touching .016 today..
I suspect someone meant to put in a sell limit order and bought by accident--LOL --still should have been honoered at the ask --not so high-- maybe the MM's are trying to paint the charts to look a certain way?
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hehe - feel sorry for whoever accidentally bought at 0.016... gave me a brief shot of excitement though when I saw the price jump ever so quickly up to .016 and then back down again ....
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Speaking of the price going up and down quickly, now it is down to .0135 and has just jumped up and down very quickly....That is kind of weird
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Out at .0139, and happy to be. Think .014 is probably the high for a while, without news. Might play this again if it goes back to .012 - was a fun day trade.
My only concern is trying to sell it - took over two hours for my sell order to go through (100k/AON). Perhaps that is normal, I'm still new to pennies - but the few other trades I've made (IBZT/AACS) have executed straight away s'long as they're within the bid range.
[This message has been edited by dazedtrader (edited January 21, 2004).]
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My buy order was filled straight away, but the sell took forever... makes me a bit leery of reinvesting in it in the future (unless of course it hits the magic .012 mark)
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Hey Glassman I know that there is a supposed rumor on this stock and that is what is the drive behind the trades, but I was wondering where you feel this stock should be going? It seems that there is support at 0.013 everyday and then stops at around 0.0147.
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I am not a pumper-- I want to encourage you and everyone else to do their own DD-- where the price can go changes every day--I have been accumulating on dips --rumors strength is dying with the volume-- look at your charts-- there is a penant forming on Dailys and and on ten minute--it is tightening up--if we don't get news it will trickle down. I will take a small loss and buy back in later. If they break news-- the strength of the news will determine the strength of the rise. This is the pennies--maximize your gains-- minimize your losses you will have both.
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An interesting thing to notice is the fact that the day's bottom seems to increase. Today it dropped to 0.013 at the open and if it can hold that until the end of the day, I think it is very encouraging. Yesterday, the bottom was 0.0125, the day before it was 0.0121, the day before it was 0.0105 and the day before it was 0.0099.
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Today's volume is good and we should close near the week's high. Hopefully we break the 0.015 wall tomorrow. I expect a strong finish. More MM in the 0.013's.
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If I had any money left I would definitely be jumping in about now.... I'm hoping my unsettled funds will be freed up today by eTrade before FXGP shoots back up to .014.
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It appears that there have been a lot of huge volume buys at this level, then small smells come in.(ie. 200,000 @ 0.012 then 10,000 @0.0119) ...I have heard of no news
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Already back up to 0.013 at 30 Million+ Shares!! Yesterday and day before the average was around 30-40 Million for the day....Maybe something is up?
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