Traps, is it possible there is an iceberg sell order on the books?
You only get to see the tip and there is plenty of stock on hand for sale which you do not see.
FYI there can also be iceberg bids.
http://en.wikipedia.org/wiki/Order_(... )
"Quantity and display instructions
A broker may be instructed not to display the order to the market. For example an "All-or-none" buy limit order is an order to buy at the specified price if another trader is offering to sell the full amount of the order, but otherwise not display the order. A so-called "iceberg order" requires the broker to display only a small part of the order, leaving a large undisplayed quantity "below the surface"."
http://www.investopedia.com/terms/i/...
Iceberg Order
What Does Iceberg Order Mean?
A large single order that has been divided into smaller lots, usually by the use of an automated program, for the purpose of hiding the actual order quantity.
Investopedia explains Iceberg Order
When large participants, such as institutional investors, need to buy and sell large amounts of securities for their portfolios, they can divide their large orders into smaller parts so that the public sees only a small portion of the order at a time--just as the 'tip of the iceberg' is the only visible portion of a huge mass of ice. By hiding its large size, the iceberg order reduces the price movements caused by substantial changes in a stock's supply and demand.
