I took a position and made a profit. Sold that position and bought a JPM. Could have made more than I did, but I figured it was too risky. Like they say.... you never go broke taking a profit. That and the fact that I was up, and another deal showed up. So, I took the money and made more with it.
Also, it remains to be seen if there is going to be a crash on this one down thru the .0016 level. It tried to crater today, but I had it on a 1 minute and on a Level 2 & a time and sales. There is somebody buying into it in huge chunks at dips. All afternoon, there was someone buying large blocks at intraday dips. In fact, every large block that crossed was on dips. So somebody is buying. It may be a buyer looking to take the company over. Kind of has that fingerprint.
I'm still looking to see if its going to make another run. The accumulation on dips speaks of somebody thinking that there is money to be made in generating another run.
Net net.... the .0016 punchdown effort was rejected EOD. Every day is a new day, though. Watch the size of the blocks passing by on the T & S and the Level 2. If there is a buyer trying to build a position, it will show up with eveidence like I think was going on today. Lots of big blocks at dips.... and the .0016 held, too.
Peace
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