J,
You are thinking the same thing I am, I think. Covering over the last few days would've driven the price just about the way we saw it move lately, of course, depending on how much covering took place.
I'm not sure that's what happened, though.
But churning is a term to describe MM's selling the same shrs back and forth to each other to make it appear like everybody's bailing on ya. So you sell, they sell, we all sell, they walk it down, sometimes aggressively, and suddenly they got more shrs than you could shake a stick at, and cheap too. Nice game, and they love to play it.
I think the biggest problem in BB's, is that MM's don't have to pay a commission when they trade between each other in that fashion, and it's wrong. Blackied |
