New Sky Communications (NSKY) Message Board

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Microcap & Penny Stocks : New Sky Communications (NSKY)

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To: rockets who wrote (1609)	8/21/1998 4:03:00 PM
From: OFW	of 2601

This is called "painting the tape" or so I was told by someone with much greater experience in the markets than I. A MM (or an individual investor for that matter) will place a order through for 100 shares in an effort to see that price on the tape. You will most often see it at the close of the day when someone wants technical chart readers to see the close at a certain price. For instance, let's say the spread all day is 20/26 and every single trade has been a sell at 20. However, placing such a order at the market close would show the final trade of the day at 26. As a result, technical analysts who read the charts will see a close of the day at 26 rather than seeing a day filled with sales at 20. It's a grand game at manipulation of the perception of what occurred in trading during the day. Of course, it's an over-simplification, but it's just one of the games investors and MM's play. Offie

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