I think you are making way to big of a deal about the 2.3 million dump today. That sell didn't even drop us when it went though. We went form .0263 to .0251 on a sell of 156k right before the 2.3 million sell order was filled at .0251. Not only did the 2.3 not really have any effect on our pps, the next 4 trades right after it where at .026. So we bounced back right away after that. But the important thing to rember is that 2.3 didn't trigger the down trend today, we started going down an hour before that. The question is why....
It was quite clear why we went down so much today and I said as much before it happened. Level 2 showed what was about to happen clear as day. Around an hour before close, we had tons of MM stacked at .03 creating a lot of strong resistance at that price. That would have been fine if we had a nice support level not too far below .03, the problem is the MMs only support level was at .0265. And it was a fake support level at that. The MMs set this up to go down the last hour. The MMs didn't make us go down, or do some massive sell off, they simply set the stage for us to go down the last hour and the day traders and profit takers did the rest. They could have stopped this at any time by building a support level, but they didn't. As we got close to the .0265 support level, the MMs removed their bids at that level and then lowered it to the .024 range before that level ever had a chance to be tested. So basiclly the MMs wanted this to go back down today which is typcial when this stock runs up quickly on no news.
Overall, the last hour today wasn't a big deal, and what happened actually was pretty common. The MMs set the stage for this to fall, the day traders took the bait and the MMs let it fall. We still finished up very nicely over all for the day. It doesn't matter who dumpped 2.3 million shares today, or their reasons why. It really didn't have any impact on what happened today. The MMs set the stage for this to happen an hour before that sell went through. That sell didn't start all of this, it was at the tail end of the final hour sell off.
What people should draw from today was how fast this stock can shoot up. We had no news here, no reason for the stock to go up like it did, and yet it went up almost a penny today. Sure the MMs brought us back down, but what we saw today was just how fast this stock can move and how much money is sitting on the sidelines waiting for this stock to move. Same thing happened in Nov when we went from .002 to .045 in 3 weeks or so. Once big, ground breaking news hits, this should have no problem going up very high.
"The Good"
AI
