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Message: What happened to 3.94 close on Thurs.?

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Re: What happened to 3.94 close on Thurs.?

posted on Sep 19, 07 07:32PM

Actually I watched very closely in the pre market... There was about 430K shares that were sell @ market... as additional sell orders were put in the bids were overwhelmed and the asks followed the market orders down to $1.70... I put in an additional 80K order at $2.05 less than 1 minuit before the open but the additional last minuit @ market bids drove the open price to $2.50 in the last few seconds before open.

This was shear panic selling by a few. A lesson in why not to use stop losses for some investors that had their shares snatched at the open.... within a few minuits the day high was achieved @ 3.94.... a $1.44 profit for the nimble traders..... wasn't me though, but sure was something to watch unfold.

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