I cut it off because the market maker was playing games with me. He wanted me to chase it up. If I had bid 17,500 at 1 7/16 or 1 1/2, I would have gotten 1,000 shares and the ask would have risen another 1/16. I got 1,000 or 1,250 from the MM and the rest from a private seller.
For those of you with TA inclinations, the stochastics on this issue are powerful. You don't have to get a chart, though, to see that it has closed higher every day than it opened. The momentum is excellent although very shallow due to the lack of volume, but until there's news (i.e. until earnings are announced) it should keep rising, since nobody's selling at this price. In other word, the issue is "oversold". I don't have level II and can't see standing asks, so it is impossible to calculate real resistance, but we sure haven't reached it yet. The MM simply isn't selling more than nominal amounts at 1 5/8.
And I liked your joke. |
