For folks who want to add -- a better philosophy to fight the shorts than JUST hitting the ask.
Yes, hitting the ask is important, but when the ask upticks, it's important that we support the bid along with hitting the ask. That will encourage ask slapping because people think there will be an uptick coming soon so they'll get a cheap price before it goes up more.
So let's demonstrate. Say the L2 is .082x.09. Some people say, hit .09, but the spread is too wide at these levels. Someone could put in a bid at .086 and the Level 2 will tighten. Then another person can go to .088.
So now it's .088x.09. Somebody takes out the thin .09 ask and the ask hypothetically uts to .098. That would make the spread .088x.098 or .09x.098 (if the .09 buyer got a partial fill and still is bidding on some .09 shares). This is when you support the bid immediately before the MM's see an opportunity to short. Bidding between .094 and .097 will accelerate the PPS and our dime will come.
As we lock up the float, this smart buying strategy is a complete opposite of what the MM's do. They'll try to lower the ask to lower the price.
Hope this is some good advice to show the MM's that the demand is up and we mean business. We'll make them cover big when the squeeze comes.
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