COHI is still on offer, doesn't seem to have many left here though. ARCA and DLNY are the problems here for today. These two are really baiting retail to sell into bid and NITE is colluding to downtick a fraction to facilitate. I'll watch L2 and read some filings on $ECIG if that helps.
This definitely looks like a programmed walk down--the trend the bars have formed is too straight and perfect for it to be considered organic. Also, with a little buying pressure from retail, notice that ARCA and DLNY will build the bid ahead of retail while leaning offers simultaneously. This, to me, confirms dilution with papers remaining to be unloaded.
What I find interesting about today's session is that the dilutors didn't take this down below 5c. Then there is the volume profile. If an entity is trying to manipulate VWAP to get majority ownership, they've done a fantastic job and 3 more sessions should get the job done at the pace $ECIG is going. Then, $ECIG will reverse and go right back up.
This $ECIG has my interest peaked.
GLTA,
BB
