3 of 4 as I saw it, but I almost missed one and may have missed previous.
I have two portfolios I am managing, one for someone else. The latter is a much smaller position and I made entry at .41 shortly before the run to .90.
I've left my shares alone for the most part. In retrospect I would have done it differently, but hindsight... For the most part I didn't want to make the problem worse, which I certainly could have.
However, in the other account I had to be much more careful especially as we dipped near my entry. I've played it by T/A and guesswork, but have managed to stay green from .41 down to .21 or whatever our low was.
I have completely reentered in that smaller account and for me the trigger was those formT trades. I think we have definitely found bottom and there is a good chance we have started a permanent reversal. I've also got a bunch more shares at now averaged at .24 than I did at .41.
The only problem is they do not represent a significant number of shares yet. Probably single digit percentage of what it took to drive us down. We moved down from the .50s on small blocks of 10K shares at the bid day after day, but probably only 50-60K. There has been significantly more shares let go in the .20s.
I think the MMs saw someone consistently unloading and used it to their advantage. Helping the trend here and there with some of their own shorting to make sure those shares got sold for as little as possible. This is their bread and butter in pinkyland, but usually it is dilution unlike our case. IMO they see the end in sight and are preparing for the journey back up.
AI
