SPOOZ Inc (SPZI)

[Imperial Whazoo]

I figure that they were fishing for a bottom today.

I don't subscribe to the theory that the MMs are in some kind of total control here. They knew from the chart that the full 100% range was down to .0045, so thats precisely where they took it yesterday. I know this for a fact because that is where I parked my buy yesterday and even though I was in place in time for the 2 million buy at 10:03 AM, they intended to fill only that 2 mill lot and they had no intention of touching me at all. They reached the 100% retrace and within less than 1 second, they took it back up by changing the ask from .005 to .006 and then step by step to .008. Oh... I forgot.... my buy at .0045 was quite substantial.

IMHO, today, their goal was to figure out where the real bottom was. Now, I don't think the MMs are working together in collusion but I do think each one has exactly the same bit of detective work to do: figure out what the market will tolerate as regards range & bottoms etcetera. So they tried to jam it down some more today.

They acted like coyotes scouting prey. They probed by dropping the bid & either keeping the bid/ask tight or by loosening it up. They measured the reaction the market gave them & reacted logically. Let me give you a concrete example: I parked two substantial buys just inside where DOMS was parked at .0065. I placed mine at .0068 & .0067. They saw mine & they moved theirs back inside mine. So next we did a kind of dance, like boxers in a ring. Yesterday, they came on like Tyson always did in the first round. Today they boxed a bit more and found out the limits of where they were going to be resisted & the bid/ask range is now settling in for the long haul. Now, having failed to jam it down below the .008 to .0085 range, the retail buyers have begun to feel comfortable again.

The net net of it, IMHO, is that they fished for today's acceptable range & the market told them. It told us too LOL.

Here's what I expect each & every day till the PR release... they will fish each trading day to feel out the range for that day & cumulatively the bottom will become clarified and, apart from some "eventuality", we can watch the action and place buys accordingly.

Thats my opinion anyway.

Imperial Whazoo