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Wednesday, February 24, 2021 7:27:36 PM
Months ago I noticed that L2 was under attack by perpetual bid sitters collecting shares on the bid and flipping them out on the ask. It was obviously the same people bid sitting as were stacking the ask, because regardless if anyone else put a lower offer or higher bid, they would get shaved by a tick....on both sides, every time.
At first I thought it was flippers, but after watching it go on relentlessly every day, I concluded that it's a heavily funded and organized attack that works to prevent everyone else from getting filled on the bid or offer. Imagine if every time someone bought the offer or hit the bid, the orders were getting filled by only one person/entity. At that point, PPS doesn't matter. All they care about is keeping it in a range, and with a good spread. When they want it to rise, they pull the offers. Then when they need to reload, they stack the offer with big size, and sit on the bid to collect all the shares they scared out of unsure hands.
To sweeten the pot for these attackers, they picked a stock that is undervalued and has a high expectation that the PPS will rise to meet fair market value. Then they go onto various public forums with multiple different aliases, often being in a conversation with themselves arguing about one thing or another so they can swing sentiment back and forth with psychological games.
So far it's been working great for them because the volume is low most days. But if we look back at the historical volume, we see that on higher volume days, even days of 2M or 2.4M, the PPS has risen.
So to answer your question about the volume stopping the games, yes, that's what will stop it, and that can be verified.
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