Replies to post #2902 on Rogue One Inc (fka ROAG)

[Qone0]

Nah, just whoever is wash trading this down ran into a wall of buyers at .04. It got to the point of diminishing returns.

When a stock is shorted and the short wants to cover. The first thing they do is try to wash trade the stock down. This is done by trading between two accounts to generate prints. The ownership of the stock is never transfered. It just prints as volume.

The first prints will be at the ask to give the impression that there is a huge seller at the ask, holding down the ask. Then they start to wash the bid. Indicating that the seller is starting to hit the bid.

This tactic almost always works to get L2 watchers to dump. Which drives the price down.

Then as the short really starts to cover people will flip them their stock at a much lower price, than they would of is they didn't wash trade the stock down first.