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Re: None

Tuesday, 12/06/2022 1:38:28 PM

Tuesday, December 06, 2022 1:38:28 PM

Post# of 694839
So for those speculating about the massive capping at $1. This is NOT covering. It could be that one shorter is buying the shares another shorter is using to cap it, but it is 100% not a net covering going on. There's likely someone accumulating, but they are not the reason it is at $1, they are just taking advantage of it. Some of the selling could be traders as it has looked different that other days when they were capping. These traders are likely trying to move with the shorts and take advantage of their work. The only problem is that moves have been a lot more expensive without the help of MM's spoofing. Another problem for the shorts with the traders selling (which they need) is that these traders will also buy when price goes down and compete with the shorts trying to cover and move price back up too fast. It's all rather fascinating to watch as compared to before, when the downward moves happened with no real explanation at the time. We now know it was spoofing.
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