With the recent change in the trading habits of some newer traders, older traders have adjusted their strategies as well.
I will typically hit the ask for a starter position. On a thinly traded stock, I generally get a partial fill on the ask causing an uptick of both the ask and the bid. I will then provide additional bid support 1 tick below the current bid (which is also mine.)
When flippers see the bid uptick, they fill my remaining order on the bid and take their 1 or 2 tick profits while providing me the shares that I want, at a discount. My secondary bid remains to absorb any small bidwhacks that traders use to attempt to bring a stock back down.
So in a nutshell…whether a trade goes off as a buy or as a sell, the end result is often the same. The BUYER gets the shares he or she wants while taking out a flipper at the same time. Two birds, one stone.
That is typically why a stock moves up, even when sells outnumber the buys on any given day.