Got to agree with you on what your thinking and this has nothing to do with Penny. I know for a fact that Penny uses Etrade. Etrade showed very little on the sell side during the sell off. He's asked me for depth sometimes and his buy orders are always shown thru Etrade. He even pasted his account once showing the shares he had and it was again Etrade. Etrade was not the seller.

As you say this was a coordinated ambush with multiple MM's, but who was behind it remains to be proven..