Once again NITE doing an extraordinary job in narrowing the spread, keeping the offer at $.18 and waiting to buy 30,000 shares at $.1612. This same individual was selling yesterday from .206-.215. His pricing indicates that he is a very skilled trader. While I was composing this message he raised his bid to $.176. He seems to be a very patient trader and to raise bid abruptly could be taken as maybe he doesn't think the stock will trade any lower. Is that a good sign? Maybe! The question is why does he keep doing what he is doing. Scalp 30% profit every now and then? That is possible!
I sense that he is also long on this stock. Most of us set a price as our destination and wait around to see what a good news brings. NITE, however, sure as hell knows what enjoying the journey means. It doesn't hurt to have fun on the way to our destination, does it? No, especially when it is a profitable one. Well played NITE.
Anyways, my point is fellow traders don't fall for his trick and don't panic. The tempest shall pass and the sun will rise beyond the horizon.
