SmartStockAdvisor.com Report: Questionable Market Maker Action
From time to time, we will report questionable activity with regards to the stock price with particular focus this time on the last 1-1/3 trading days. This is based on Level 2 analysis which shows the exact time and share volume of each trade.
WEDNESDAY, SEPTEMBER 15, 1999: More buying than selling but stock closed down for the day. Volume was light at 15,000 shares. There appeared to be 11,500 shares of buying and 3,500 shares of selling. Stock opened at 1.875 - 1.906 and closed at 1.812 - 1.875
THURSDAY, SEPTEMBER 16, 1999 (today): Stock opened at 1.812 - 1.875
Action during the first 10 minutes of trading today was particularly unusual.
Here is the transaction log during the first few minutes today:
9:32:52 1.812 - 1.875 5 x 5
9:33:36 2,000 1.813
9:34:09 1.781 - 1.875 5 x 5
9:34:19 100 1.813
9:34:19 1.781 - 1.812 5 x 5
9:34:30 2,000 1.813
9:34:38 1,000 1.875
9:35:16 500 1.813
9:35:17 1,000 1.813
9:35:47 1,000 1.781
9:35:55 1.656 - 1:812 5 x 5
9:36:16 1.656 - 1.781 5 x 5
9:36:48 500 1.781
9:36:54 1.656 - 1.718 5 x 5
SUMMARY OF TRADING ACTION:
"BUYS": 5,000 shares
"SELLS": 3,100 shares
STOCK PRICE WENT DOWN from 1.812 - 1.875 at open to 1.656 - 1.718, a drop of almost 10% even though there was more buying than selling. From that point, there was some mixed buying and selling with the stock hitting 1.531 at one point. It appears that the intent was to dictate the tone for the day's trading and move the stock price down, even though it was unwarranted based on the trading action. As of this post, the current Bid/Ask is 1.687/1.71
As always, interested shareholders may call SmartStockAdvisor.com at (615) 871-4000
or Fax at (615) 871-0044 to receive a copy of the actual Level 2 trading log.
***
Disclaimer: SmartStockAdvisor. com is a compensated agent of Microphonics, Inc. as of May 18,1999. SSA has been hired to perform press and investor relations for the company and are being compensated as follows: during the first three months of our contract SSA will receive 3K freely trading shares and 2K restricted shares per month; thereafter SSA will receive 5K restricted shares per month, with possible additional restricted shares on a quarterly basis. In addition, the individuals comprising SmartStockAdvisor.com all hold individually owned unrestricted shares of Microphonics, which collectively amounts to less than 1% of outstanding shares. We are not a registered investment advisor and suggest that you consult with an independent registered advisor as well as do your own research before investing in any stock. The opinions and analysis included herein are based on sources believed to be reliable but no warranty, expressed or implied, is made as to their accuracy, completeness or correctness.
Readers are advised that this communication is issued solely for information purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities. The reader should verify all claims and do their own due diligence before investing in any securities mentioned. Investing in securities is speculative and carries a high degree of risk, of which may or may not be suitable for everyone. |
