Post by icemandios on Aug 2, 2019 2:25:04 GMT
Well, first it was Powell and the FOMC "disappointing" the "market."
And then, today, Trump and 4 of his cabinet, issued a market-chilling Tweet about adding another 10% to the China tariffs on 9/1.
All fall down and go boom.
But INAP, after hours, did two trades! One for 3.08 (24 cents above the close) and another one for the same. Together, they amounted to 20 shares! One was for 19, and the other for 1.
19 is absurd enough, but who does 1? Clue..the "exchange" is NDD. My gear tells me that equates to "no dealing desk." Well, what the hell does "no dealing desk" mean?
First off, these things are frequently seen in everyday trading on most stocks. But the question remains, who would bother to trade 1 share with the attendant cost of trading?
But then there's the NDD. Maybe DNR08 and his fabled Bloomberg Machine has a more coherent translation of No Dealing Desk, but lacking that, who doesn't pay at least something per trade? (And don't tell me Robinhood). Of course, that would be a broker - your broker, my broker, anybody's broker. Okay, then why 1 share, or 2, or 3? Why a string, a long string of 1s and 2s and 3s, etc?
I'd really like to know what is up with that nonsense. Is it some signaling? It certainly isn't buying or selling of a position.
It is also not so neatly wrapped and confined to NDD. Similar activity can be seen on BATS exchange (where a trading fee applies) and on the Boston exchange (ditto).