Disappearing Trades ?????

Discussion in 'Trading' started by vega, Aug 28, 2003.

  1. vega


    Anyone here trade penny/BB stocks ? I'm trading this little piece-o-crap, a little position trade. I realize that on BB stocks, you're at the mercy of the MMs, but this is ridiculous. Five times, I have tried to buy this thing this morning, each one placing a bid at OR ABOVE the offer. My order sits there for 3-5 minutes, I still am not filled, so I cancel. This (although pathetically slimy) I can deal with, but here's my main beef--disappearing trades. Recently, there was volume of about 80000 on the day, which for this thing is decent for this point in the day. Then, the volume jumps to 323000 !!!!!!! 250,000 shares !!!!!!!!!!! Figuring something is up, I place an order to buy at the offer, let it sit for the usual five minutes, and shockingly still do not get filled !!!!! Here's the kicker, that entire block of 250000 has been removed from the tape ! Volume went back to 80000, and is now at 125000, still decent, but this is not the first time, and probably won't be the last time this happens. I know there is not much anyone can do with the BB stocks, but has this happened to anyone else ? And if so, were you able to draw any kind of conclusion as to what kind of games are being played ? BTW, if these trades were for 5000-10000 shares, wouldn't be a big deal, but frequently they show a trade of 100000+ go across the tape, and then poof !!!!! Needless to say, when I close this position out (which will be very soon) I'm done with these things.