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Looks like 63k undercut that big offer.
There are breaks in the pattern, especially when it's being discussed openly and someone wants to poke holes in the story, LOL. That 63k cut in front of my 15k about 4 times earlier.
I just report what I see folks. I have no agenda other than to discuss whatever information is available and hopefully be right about this being a tremendous opportunity.
GL to all the shareholders who have the same hopes.
What you state is your opinion. There is no way for any of us to know how many people are watching this. I can guarantee though that there are way more people watching than who are posting here. I know of at least 10 people in another group who are long here and do not post on iHub ever.
If you are not following L2 as closely as I am, that's fine. I don't expect everyone to have the same attention level as me, especially when things are this slow.
I am reporting information. Take it or leave it, but please don't discredit it.
I am watching the L2 action and reporting what I see. What is wrong with that? If that's not something you want to look into yourself, then disregard my reports.
If anyone else is interested, or wants to verify what I am reporting, it's extremely easy to do. Just try to get ahead of those orders and see what happens.
It shows us that sentiment is still strong.
As soon as the agenda stopped for a few hours, look what happened. The buyers returned and the PPS went up easily.
Now it's right back in play. The 78k bid and the 63k offer are the orders involved now. The way they run their agenda is to shave everybody who comes in ahead of them on either side. That makes it so anyone trying to exit cannot put in a low offer, so they eventually have to hit the bids, and everyone trying to enter cannot do it on the bid, so they have to take the offer.
This creates a situation where the people running the agenda are almost always the ones filling every buy and every sell order that comes in. It then has the effect of making overall sentiment look negative, enticing more sells into the bids.
He's back now. 63K and 78K. Not a chance of getting ahead of either one.
Try to shave either one of those and the agenda is revealed.
The one tick shaving on both sides of the quote is not present today.
Take notice of how different the quote is behaving and how the PPS is reacting.
That 5k offer just got hit for 5k and it didn't move. Looks like it will lift right to .19 if he gets taken out.
There are a lot of factors pushing people to hit bids right now.
These low volume times can be productive for bid sitting. Especially when there's an agenda at play like the one we've been seeing here every day.
Accumulation rising despite the PPS moving lower.
What does this tell us? Things are not as they seem on the quote. That 92k offer is still weighing down the offer to entice bid whacks, and some are falling for it.
Low volume games to shake shares is what's going on. We ALL know something big is coming, that's why this accumulation is going on.
I hope the lower PPS doesn't fool anyone into thinking this is toast. We've seen how quickly this moves when volume comes in.
That volume yesterday was all news hounds looking for a quick pop. If we had some fins or a 14c, the PPS would have been able to hold higher, IMO.
Now we're back to hanging out with the patient shareholders.
Bring on the filings Mr P!!!!
I would have to say yes. If we look at the company's last communication, we can see the word "shareholders" clearly written in the title.
It is my opinion that the company does in fact know it has shareholders.
https://www.otcmarkets.com/stock/INNO/news/story?e&id=1765115
See:
Innocap, Inc. Year End Message To Shareholders
NEW YORK, Dec. 14, 2020 /PRNewswire/ --
Message from CEO:
"As 2020 draws to a close, I take pleasure in reviewing some of our accomplishments in recent months. In October 2020, through the merger with Unique Logistics Holdings, Inc. ("ULHI") we acquired a thriving global logistics business. The acquisition comprised three individual companies under ULHI with a substantial United Stated based book of business and an experienced employee base.
We have successfully integrated the three companies under one management team, one operating system and a unified vision of the future. Synergies in services and administration have enabled us to make substantial savings in overhead which will be visible when we publish financial information in the weeks ahead. We have been successful in securing new business contracts and in establishing a business development presence that is driving growth and will continue to do so.
We will continue to grow our United States presence organically, while also seeking to aggressively grow our business through acquisitions within the United States and in key overseas markets resulting in widening our range of services to our customer base and greater control of services in the supply chain of our customers.
We now have well established credit facilities to support our growth and have successfully used our own operating cash flow to make early repayments to debt holders.
We approach the close of a tumultuous year for all of us. On behalf of my Management Team, I would like to thank all of our loyal shareholders and wish each of you and your families a successful 2021 and a better year for the world. The Management of INNO and our dedicated team of employees are committed to your success!"
- Sunandan Ray, CEO
I didn't say it was rare, just that I haven't seen it in a long time.
These things happen when conditions fit a pattern. Doesn't matter which ticker. Something with low volume, a spread wide enough to be exploited, and a catalyst on the horizon. Most traders are loaded already, and those who are on the fence see the declining PPS, but when they try to sell the offer they get shaved, so they turn around and hit the bids....the bids who have one tick shaved everyone to be on top.
I can only identify the situation and hopefully explain it in such a way that others can also identify it.
Maybe some thought I was acting inappropriately with the 11k offer last week, but to me, it identified the situation I'm describing clear as day. 20+ years of watching/trading L2 quotes, so I know what I'm looking at. I haven't seen this tactic used so aggressively in OTC, it reminds me of when the market traded in fractions.
Too many variables to say how low they can take it. If we halt or see filings this evening, the situation would be different than if we open tomorrow with no changes. Then there's the good possibility of a company announcement similar to the end of year letter to shareholders. Maybe we get another business announcement like the $20+ million air freight contract from last month. Anything can happen, and when it does, the volume surge will clear all this localized nonsense off the ask pretty quickly. But it will resume as soon as momo slows.
We all know something is about to happen. This is a well orchestrated takedown that has a good amount of clout behind it.
Definitely more to this than I first thought. All that playing around on the ask last week revealed to everyone paying attention that the quote and PPS are under attack. Same story on the bid side also. Any new bidders get shaved by 1 tick. It's impossible to get around the attacker(s) on either side.
This only works when the volume is low, so don't feed into this lie.
I hate seeing people giving their shares to this nonsense.
S & P is down 1.64%. Lots of money going backwards today.
https://www.investing.com/indices/us-spx-500-futures-advanced-chart
It's obvious to me what's going on. This is the most aggressive ask attack I've seen in a very long time. The more they buy on the bid, the more show up on the ask, which drives the bid lower. Forget about ever getting an offer in under them, because as we've seen before, every offer gets shaved by 1 tick. Well played low volume accumulation tactic.
Anyone giving their shares away to this trickery will be pulling their hair out when we halt for name/ticker change.
The resident ask seller(s) must not realize that today is the 20 day mark since the shareholder mailing.
Just because nothing happened this morning, doesn't mean that something can't happen this afternoon IMO....like after the close perhaps.
I am tempted to shuffle some things around and buy more here, but I have enough. Let nature take its course. I'll be watching Finra closely.
https://otce.finra.org/otce/dailyList
http://www.otcmarkets.com/filing/html?id=14551438&guid=OfMqU6t2yxYHs3h
I think a lot of today's volume is from people who jumped in first thing, then decided that being patient wasn't something they could handle, so they hit the bids as soon as they saw a couple of small red prints.
This is still OTC, lots of traders and flippers here who trade movement and have done little DD, if any at all.
You took the low road, LOL. Probably a pretty standard reply for anyone asking such questions.
I think we've got a lot more awareness now, and Montecristo is well known enough to draw some investors in on brand recognition. Plus all the merger hounds that watch the markets for exactly these types of situations will be on it.
Any real volume will move this quick. Imagine just 10 or 15 new investors wanting 50k or more each....or 100 people wanting 50k each.
We've spoken about the potential for quick movement here, and everyone who understands why that will happen is very excited now. Lots of folks will be surprised though.
Nice work! Do you think we'll get some filings this week that show Montecristo's financials? That would create a lot of attention very quickly here. We're not trading anywhere near the actual value of the newly merged company.
It's not really my type of programming, but I recognize the value and marketability of such content, and as far as production companies go, I get the impression that this is one of the more professional and more ambitions companies in the field.
They've done a ton of projects all over the world. Their sales and distribution list has 100+ titles.
http://www.montecristoentertainment.com/sales.aspx
Next merger targets: UL India & UL China:
UL India, 2 sources:
https://www.zaubacorp.com/company/UNIQUE-LOGISTICS-INTERNATIONAL-INDIA-PRIVATE-LIMITED/U62200WB2010FTC145954
https://www.dnb.com/business-directory/company-profiles.unique_logistics_international_(india)_private_limited.3201b3871cc5453c71fbaac940fcca5a.html
UL China, 2 sources:
https://freightfolio.com/places/china/china/shanghai/freight-forwarder/unique-logistics-international-shanghai-limited/
https://www.dnb.com/business-directory/company-profiles.uli_(north__east_china)_company_limited.ff11046b87d329699985eeb9a643b5e0.html#related-companies
Anytime on or after Jan 4 technically, but as far as trading is concerned yeah, anytime starting now.
That's regarding the mailing the company sent out informing shareholders that there will be at least a 20 day waiting period for the changes.
http://www.otcmarkets.com/filing/html?id=14551438&guid=OfMqU6t2yxYHs3h
Search the document for "on or about" and "at least":
https://sec.report/Document/0001078782-20-000960/
Correct. There are a lot of different strategies at play. Sometimes it's like playing poker with see-through cards, other times it's like trying to decode DNA. The see through cards are more fun.
Oh I see what you mean.
So what do we make of the short information that said there were over 20k that needed to be covered today? If that info was accurate we should have seen at least that amount of buy volume. If traders didn't cover on their own, the brokers would have done forced buy-ins.
The market is still open.
Good point. If there's volume to support flipping, then it doesn't make a difference. But when these same people clog the quote everyday with their 1 or 1 1/2 penny flips on low volume days, it puts downward pressure on the PPS.
I think my blocking them will ultimately reduce flipping and be good for the PPS and sentiment longer term. But of course, not everybody sees it that way.
Oh I see, but degrading my position value day after day with this flipping nonsense is fine.
If I want to rub a flipper's face in shit once in a while to hopefully show them that their actions are degrading the overall PPS, that's a lesson I'll teach over and over.
My endgame is to make a lot of money here, while demonstrating how the flipper mentality destroys PPS.
At least y'all know who the 11k is, but never in a million years will the 82k let on anything except that they are buying on the bid. LOL
Just having some fun really.
Sweet!!!! That explains why we didn't hear anything yet. By law the company has to wait 20 days after that mailing before they make the changes.
Thank you for posting this w2r.
https://www.otcmarkets.com/filing/html?id=14551438&guid=OfMqU6t2yxYHs3h
Low volume flippers cutting each other's throats all day is why the price is up and down. They want to flip 100s of thousands of shares in one or two orders when the volume is minuscule. That's got nothing to do with the company failing their shareholders.
I haven't lost interest, and I see plenty of smart money buying the dips these flippers create. The pattern is extremely easy for me to spot because I built my first house with money I made from flipping 20 years ago. But when fractions got abolished, I stopped flipping.
One difference was, back then a one level flip was 1/16, which is .0625. Make 2 levels and that was .125. Even flipping 1000 shares was worthwhile.
Not worth it to flip now, unless the spread is large and the sentiment is flat. But with low volume and lots of trained eyes watching, it's more of a nuisance than anything else.
I watched that 82k flipper get his bid hit yesterday and then flip it right around to the offer a penny higher. He sold a few, but not a lot. That's the guy I've been walking down for the last day & 1/2 with 11k shares.
Penny spread most of the time, bids do get hit even with the low volume. It's actually not a bad flipping situation, until they collapse the price with too many undercuts.
And then people wonder why the PPS doesn't remain strong when there's low volume.
Bid sitting and ask stacking drives the PPS down. Now that 82k flipper/stacker is below where he bought. That's why his offer disappeared now.
These are flippers. See how easy it is to walk these weak hands down with 11k shares?
No conviction right now. As soon as pressure comes in either way these buffoons cancel their orders and try for a better price because that's the only way they know how to trade.
Nothing that's going on with L2 right now means anything. One tick throat cutters is what we have trading now.