Level 2 quotes were very interesting in the last hour today. A 100K bid came on at $0.16 shortly after the low, then kept moving up to take out everything up to $0.195. Then, when the bids started firming up, the remaining 50K or so dropped off.

I think this was a market maker in action. At about 3:30, if all day orders on the sell side had been changed to market orders from limit orders, TDC's share price would have been wiped out. There were only about 50K shares on the buy side in total, including one for 20K at $0.01. Under these conditions, I believe the market makers in a stock are required to "make a market," i.e. step up and buy in this case. Nice to know that it will at least put a floor under the share price.

Nice looking spike low today on high volume - the kind of thing that bottoms are made of.