While watching the L2 for the last couple of months I saw an interesting thing that caught my attention - the last traded price and the bid were both higher than the ask. 5 minutes later the price of the stock tanked sharply.
A couple of days later I saw the same happening in another stock (see attached file) at the first hour of the trading day. 0.165 on the bid (5k), last traded price of 0.167, 0.164 on the ask (96K). That day the closing price was 0.178 but the next day was a a total disaster as the price gaped up to 0.18 at the open and closed at 0.116.
From your own experience, when the last price is higher than the ask is it pointing at shorts positions taking their place? Should I fasten my seat belt and wear my helmet next time I see it?
Gil
A couple of days later I saw the same happening in another stock (see attached file) at the first hour of the trading day. 0.165 on the bid (5k), last traded price of 0.167, 0.164 on the ask (96K). That day the closing price was 0.178 but the next day was a a total disaster as the price gaped up to 0.18 at the open and closed at 0.116.
From your own experience, when the last price is higher than the ask is it pointing at shorts positions taking their place? Should I fasten my seat belt and wear my helmet next time I see it?
Gil
