From Sparky: Friday 03/26/04 1:50 pm cst
Good Observations Fellow Members ...
Those buying TIGR shares finally appear to be outnumbering sellers.
It appears to Sparky that the market was simply jolted by a few big block sales.
Let's not forget that some TIGR shareholders scooped up half million share blocks of TIGR shares as recently as last December for $ 25000. And unfortunately, sellers with a ten to one return are far more like to just settle for Best Bid.
That said, Best Bid can only be hit so hard for so long before if falls back.
But the flip side of this, as we've clearly seen during the second half of today's session, is that the same thing applies on the Best Ask side. Specifically, as buyers keep hitting Best Ask, as they tend to do when accumulating aggressively, Best Ask will soon back up to higher levels. This is precisely what happened today.
For this reason, Sparky urges TIGR fans to unite and add slightly to their TIGR holdings at or above Best Ask prices - which history will soon show were paltry to begin with!
Respectfully,
Sparky
