Specialists no longer wield that influence. They're chickenhearted jellyfish working in a well maintained flea hotel. When the markets go fast Specialists are the first to hit the sidelines, the first to punk out and when the big volume comes it's like they don't even exist. The highbrow notion of the steadfast Specialist, ready and willing to balance order flow when the inevitable imbalance occurs is an urban myth....
Specialists can only sell on an uptick, so they can't drive anything down like that. That reversal didn't seem to have any upticks.
i dont think they had any problems since they had restin' lmt orders at resistance and mkt went above it before comin' down hard.
To the best of my knowledge, there are those who are exempted from that uptick rule; whoever was manipulating the stocks is obviously exempted. It is crooked if that exemption is meant to give some parties an unfair advantage, especially the ones who are in the biggest position to influence.
This is like the funniest thing I read in years. How is it different than saying, if I win, everything is cool, if I lose, I sue the hell out of you?
Conspiracy .. sweet. LOL. I imagine if you were asked to stare at a white pot long enough you would end up saying it was black with a blue pattern on it.
Nothing new....loved the whipsaw and the great "market delta" large lot moves..............they can't hide everything they do.
You have to assume it MAY be rigged.......next.....move on. Now go out and find the way to take money out of their rigged market everyday (it really makes no difference).
I only lost about $1k from this last monkey-businesses and naturally adjust trading activity to account for this type of stuff. I'm speaking on behalf of the $5 billion I would estimate people lost, if not from this time alone, then from previous times as well; also speaking about other rigged activities, which have turned other nice gains into losses, again, for a lot of people. BTW, for all you who so-called "called" the move down, with the extended market stuff, you're also wrong now! IMO, this was ALL part of the plan.