We had exceptional bid support today. To me it seemed more like a group or maybe professional trading group or hedge fund was buying in.
However, it was definitely at least one professional trader who, when the share price started to move back up systematically second by second moved the bid support up higher and the share price, as you’d expect, followed.
I watched it all unfold before my eyes. That’s when you know this is big bucks buying in. This in my view, is already being viewed as a big board stock by big board traders.
That systematic buying with the support moving up very closely is someone who really knows what they’re doing. You have to be real quick to do that - like professional traders, who’re trading for a hedge fund. Retail just couldn’t keep resubmitting new orders each second.
So on reflection, I believe that we have the professionals quietly loading in the background.
We won’t ever see them posting here. But they’re accumulating the float. I believe that we will see more big buying on Friday then stronger moves next week - but as the float gets locked up we will see huge and violent swings in the price like I saw on AX*XA. On those days my account would jump up $6K on market open, down $4K back up another $6K and so on.
The reason that will happen is when people put stop losses on. The market makers can see them on the system and will be desperate to accumulate shares.
So they’ll drop the price scoop up the shares then take the price back up hoping to encourage buying. Don’t sell folks and everyone will reach their share price target very quickly.
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