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Re: None

Wednesday, 03/27/2024 10:37:11 AM

Wednesday, March 27, 2024 10:37:11 AM

Post# of 68483
Looks like VIRT is back with their notorious algo to attempt to control this. They never actually sell, just wait for pause in buying, so they can undercut and drop the ask. If the ask falls to them, they immediately disappear, then reappear at higher ask (always try to remain as the 2nd ask from top and/or 2nd MM, just under the lowest ask and often matching the lowest. However, they sit in #2 to ensure they're not hit)

Usually doing the same on Bid side as well, but will never be highest bid by themselves. If they and another MM have bids at same pps and the other MM gets filled or drops off, VIRT immediately lowers their bid or disappears and comes back with lower bid). Been watching them with this algo for 3+ years now on different tickers.

Anyway, from the looks of early trading, it appears that somebody or somebodies is trying to keep this in a very specific channel, but that's just me.... I'd like to see a massive surge of volume take this back past .008's and above....