This is all MM’s whacking it down to cover, and off course day traders who jumped in yesterday sell out of fear to lose more. Keep in mind that the run started at .002 on Wednesday and only 35M later it was in the low to mid .003’s... that is where the shorting started and peaked in the .005s... after lots of volume traded in .005’s bid whacking started by MM’s and dropped down to .0035 on 30M volume... today, most of the shorts have covered in the low 20’s range... it will stabilize in the same range it was before the run, somewhere between.0016 and .002... on any case, lots of money was made over the last 2 days, and the MM’s are once again winners...
In any case, I am still holding my core positions I had on Wed morning, so I have not lost anything over the last 2 days, but I also cannot brag that I made out big, because I was sitting on the sidelines. Yes, I could have doubled my position in the process, but chose to wait for the whole grail. Nothing changed for me besides waiting another month.
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