Seems like an important note since probably 90% of my orders execute on ARCA “and the other ECNs.”
Supported market data feeds include Nasdaq TotalView (full depth), Cboe/EDGX (full depth), and NBBO. However, ARCA and other ECNs are not included in dxFeed's market depth data, which may result in order book discrepancies.
Learned today that Omnifeed no longer available on Bookmap. Wonder why?
Virtu Financial's Petition for Rulemaking on Exchange Listings of Penny Stocks (pdf)
As of December 2023, 557 U.S. listed stocks were trading below $1, with the vast majority of those listed on the Nasdaq Stock Market.
A primary attribute of these issuers is that they feature capital structures that result in serial dilution of the ownership interests of public purchasers of their securities.
Ownership of their shares is opaque, with much of their equity owned by insiders and parties who purchased significant amounts of the issuers’ outstanding common shares and derivative securities that convert into common shares in unregistered private offerings, although in some instances also registered offerings.
Often, their derivative securities convert to common shares at a discount to current market prices, which incentivizes short sales by the holders of these securities as both the short positions and the conversions of their derivative securities benefit from the activity.
As reported by the Wall Street Journal, there were 495 reverse splits of exchange-listed stocks in 2023, up from 288 in 2022 and the largest annual number in the past two decades.
The securities of these issuers frequently experience aberrational trading patterns with the price of the issuers’ securities increasing exponentially for no apparent fundamental reason…
Despite the prevalence of increased risks and greater costs for investors, exchanges like NASDAQ are incentivized by listing revenue to keep penny stocks listed. Under NASDAQ’s rules, for example, issuers have a period of 180 calendar days to bring their stock price above $1 to remain listed. And if, after 180 days a company has not achieved compliance, under certain conditions it may be granted a second 180-day grace period to achieve compliance.
These are classic penny stock companies that are often tied to pump-and-dump trading activity and other forms of market manipulation. They are exactly the type of stocks that the Penny Stock Reform Act and Commission rules intended to keep off the major exchanges to protect investors.
We recommend that a stock that trades below $1 for 15 consecutive days should be considered to have failed to meet the minimum bid requirement. Further, we recommend that the period for curing that deficiency should be reduced from 180 days to 60 days. Finally, we recommend eliminating the option for an issuer to get additional time to cure the deficiency.
We recommend that these rules eliminate the grace period for curing a deficiency for any issuer that has engaged in one or more reverse stock splits over the prior three-year period with a cumulative ratio of 10-for-1 or greater.
We are concerned that retail shareholders may not be aware of how dilutive corporate actions can negatively impact a company’s share price. Requiring issuers to affirmatively disclose their projected share issuances and conversions, and to include a hypothetical analysis that demonstrates the dilutionary effect of the conversion of restricted and/or convertible shares and insider options, would better inform investors about the potential risks of investing.
You can read all of the Petitions for Rulemaking Submitted to the SEC…
This nano float dinged in pre below $6 then opened above $9 … 179% opening gap means the Opening Print Boyz involved, including me, sort of chasing in, if memory serves … I paid $367.50 for borrow and ended up losing 20% in it. C’est la vie, can’t win ‘em all, etc. Woulda lost a ton more if I had taken that PM (pre-market) ding.
What I’ve found with the lightly roasted, medium roasted single-origin fancy pants coffee is that it all tastes SOUR, which is disgusting. A generation of coffee snobs has been trained to believe that SOUR coffee is good coffee, but it isn’t, it’s just under-roasted. The cute girl in this blind taste test video nails it. Good coffee tastes rich and full, not bitter and certainly not SOUR. Whenever I taste sour coffee, I also say, “I really don’t like that!”
I dig it…
This thing dinged below $1.50 in the pre-market so any blind short getting in there would be in trouble… the RTH ding was much better… I fumbled my way in at the open, totally screwing up my entry with a terrible average, then of course it JRUTian rotated back up to pick off the highs, so my average looked even more horrific after that … anyway it reversed and went down a ton and I was bailed out.
Since it gapped up 138% the Opening Print Boyz were all in there with their 30% or 40% stahps. OPB is just a variation on Blind Shorting that I never look at.
I paid $228 for 19,000 shares. Don’t ask any contrasting facial hair gurus how much they paid for borrow (they won’t know because they don’t actually trade).
DRaMA dinged yesterday and gave good profits into the EOD (end of day) close, but woe to those who swung it. Nano float (sub million) so they can do whatever they want with it… including running it over 300% before 6AM … bot dings just above $2 would have been bad, but I was fast asleep and don’t have an HTB (hard-to-borrow) bot. It gave a good ding at the RTH (regular trading hours) open, but I missed it. Too bad since it would have been a huge winner.
There were 11 dings pre-open (including two cheapies) and another 7 dings in RTH (including cheapies), so that’s 18 dings on the day. Sticking $5,000 in each play, you’d have $90,000 at risk, which seems like plenty. Here’s a table of all 18 dings with the new PM High Fade and RTH High Fade columns. You can see that it was another crazy profitable day for the blind shorts.
I like this Wall Street Millennial kid’s videos:
I’ve never been inside a Dollar General, but I’m a shareholder (who is losing money in it and will take the loss at the end of the calendar year)… no vegetables or fruit in dollar stores, I imagine? 30% gross margins the result of ripping off dumb, poor people who don’t realize they’re overpaying….
of course shopping at dollar stores will just make your financial situation worse….
I swear I'm not a mess…
GenX girl band…
I noticed that Kris Verma had two custom columns in his TradeIdeas window here:
I appealed to members of my Discord chat for the custom code that creates them and “Stonaphile” came through. Thanks, Stonaphile!
This is for the fade from the pre-market high percentage:
([BelowHighPre]/([Price]+[BelowHighPre]))*100
And this is for the fade from the regular trading hours high percentage:
([BelowHigh]/([Price]+[BelowHigh]))*100
Let me know if you have any trouble implementing it…
