Just like I saw a huge gap in the ask on Level 2 in ISOLF yesterday between .10 and .15, I saw the same type of gap in the ask on CNABQ today between .025 and .029
The ISOLF gap turned out to be authentic, because yesterday when ISOLF took out .10 on the ask, the next ask showing was .15 and somebody bought the ask and received shares at .15
So there weren’t any hidden asks out there
I knew that was a very strong predictor of a big day the following day (today) in ISOLF, because it meant that nobody really wanted to sell ISOLF yesterday below .15, so it made sense that few would want to sell ISOLF below .15 today
And that’s why ISOLF was up +82% today
Nobody wanted to sell it below .15
The difference between the gap in the ask I saw yesterday on ISOLF, and the gap in the ask I saw today in CNABQ between .025 and .029 is that nobody tried to buy shares at .029 and after a few seconds, the ask at .025 repopulated
So I can’t say that had someone tried to buy shares for .029 when that was briefly the ask price after .025 got taken out, that person would have received shares at .029
But it doesn’t really matter, because it’s more important as an indicator of selling interest, or the lack thereof, below a certain price
So Level 2 tomorrow in CNABQ could wind up looking different than it appeared late in the afternoon today, or like ISOLF, it could look pretty much the same as it did late today
If we see tomorrow in CNABQ play out similarly to what we saw today in ISOLF, then I would expect very few shares for sale below .029
.03 is the breakout point for CNABQ
After that is breached, it could get pretty wild
I guess we’ll find out tomorrow whether or not anybody wants to sell any significant size of CNABQ below .029
But I just wanted to put this out there, because I caught it on Level 2 today and it gave me some instant deja vu from 24 hours earlier
However tomorrow winds up playing out, I’m sure it’s going to be an interesting day
I would encourage everybody out there to get some proper rest and good hydration in tonight, and that definitely applies to me as well :)
Sleek
