Hey OB. IMO, based on long time observation, I believe Xall reached .06, because the Axe (lead MM’er) was caught on the wrong side of the trade. These guys are highly sophisticated, with ‘tool’s available to them, that we will never see. Algorithmic trading programs are a 1 billionth of a second platform that among other things, advise the market makers where the ‘stop-loss’ signals are. Investor A really doesn’t want to sell his 2 million shares, but he doesn’t want to lose everything, as he protects himself with stop loss points. When the price hit .06, the mm was short on shares, so he signaled to other MM’ers to open the spread. We know what this creates, and it’s FOMO selling.
Nothing of the aforementioned is ‘organic’.
Getting off subject, but Algorithmic trading platforms were first created by Robert Mercer, for the Hedge Fund he worked for. He’s now the long time CEO. If you’re not one of Robert’s clients, then you are one of his enemies. He wants to own everything and was a long time big backer of Ted Cruz…..until
an even more conservative chump came along. How did Steve Bannon end up in Trump’s cabinet? Robert and his daughter Rebekah Mercer, is how. One way you deconstruct a state, is via sleight of hand screwing of the middle class. Oh well, enough of that.
I don’t know if MM’ers target certain stocks, but I do believe, left unchecked, they target conditions that enhances their trades, while minimizing that of retail.
But, why isn’t Xall exciting enough for the investment community. Boy it sure seemed that way when I was doing my due diligence 5 years ago. Enthusiasm was off the Chart. I remember calling buddies, encouraging them to buy. Some won’t even return my calls….. these days. But, OB, what killed that enthusiasm, and what kills it off with every piece of Good News. Look, Mark Cuban, has identified AI as the first sector that will hit 1 trillion annually. As companies go, Xalles is fairly a newbie, but not an unpromising one. There should be excitement, and will be when the ‘Axe’ allows it to trade organically.
Remember when we hit 20 million in volume. Did price go up? Only briefly, and not by much. Other’s will provide all the fancy trade talk as to why, price action was rejected……..but it wasn’t organic.
