AND WE have....1B volume
mostly ask slaps, bid keeps going above 2.2B
all speculation, but I am thinking the buying is mostly MMs not retailers.
if it was retailers in essence, I think we would be sitting on 2/3 right now.
but instead, we started with an enthusiastic market, and the movement on UBQU is obviously a news play. my biggest worry is the fades that comes with news plays.
and if this was mostly retailers, we'd see probably 2/3 now, not a bunch of placing the 1s thinking anybody human would sell at this moment.
also machines would have slowed down because the S&P is pricing in another week of inflation worries, and the new 500B bill will increase inflation in a few months.
with all that being said, the memes are still bullish and I think we are tied to that. more importantly, we've had many PRs put out, and no action. I know, this forum has complained many times on news meant to pump so ballas could dump but no pump.
but why is this one special. I'm sure this new advertising alliance means a lot, but I don't know instead I ask myself why was this IMPORTANT TO WALL STREET. cuz this didn't cause ubqu apes to slap 200,000 dollars on the bid and patiently wait.
do they see another hedgie possibly capitulating soon?
do they see the MJ legalization law coming into effect soon and a bullish catalyst
do they talk amongst themselves and kenny intends to pump us for whatever reason?
do they know UBQU runs if the memes run (again) and the SPY goes hard green and they want to be in the ride?
regardless, this is all bullish to me, but if markets in general continue to stagnate the PR will start to have "theta decay" on the bullishness and we might have to wait a bit to see 2/3
hopefully ballas' expectations aren't high and hopefully he doesn't NEED to "dump" to make interest payments again (well if he needs to he's got 200,000 bucks again ready to go. but it'll be the MARKET makers eating it I think not retailers.
also if ballas is selling A/S to raise capital he made some if he sat the ask today!
or if my original hypothesis is correct that the trip 1 humans who bought sit the 2s and make 100% PLUS some leftovers to ride a run, well a lot of humans got paid today.
if MMs intend to P&D this thing, once we break into hte 3s and 4s I would expect light selling resistance, 200M or less on the ask
if this is truly a retailer backed play, or the algos are just doing what programmed, if the market is utter garbage in general, and we keep a bullish trend yet break to 2/3 I expect to see 400M-700M asks up the trips.
my best guesses. but I just heard an ape TA guy say he thinks we will BEAT inflation on the CPI tomorrow. if we get a green spy, I think we'll get a chance to test my theories tomorrow. 2/3
