Koil Energy Solutions Inc. (KLNG)

[forgreen]

ARCA was bluffing, but in order to do that they had to show size and when you bluff your bluff may get called which it did.

Those shares were bought faster than you can say who took my eggo.

You know ARCA is an ECN and can be anyone, but you also know if they wanted to unwind their position or take their profits they are not going to shoot themselves in the foot and tank it while they are selling. No, they would sell in smaller blocks at the best possible price.

Therefore you can confidently surmise somebody was using ARCA to try and erect an intimidation wall on the Ask at $2 and bring the stock back down. They figured that by flashing 29,000 shares for sale on the Ask they would scare people into thinking the stock was not going to get back over $2 for some time and thus encourage/scare them into selling their shares, taking their profits and surrendering their shares to the buyer sitting on the bid.

I forgot who was on the inside bid while ARCA showed size on the Ask, but you can be pretty sure they were both the same entity showing their offer to buy on the bid while using ARCA on the ASK as a scare tactic.

It failed miserably. There are size hungry share hunters lurking in this stock who pounced on the offer and essentitally burned the bluff seller on the Ask who is now either deprived of that inventory they risked to manipulate the action or they are now short 29,000 more shares they may have to cover at a loss.