Well. At this point I don't consider it "high" or that there is someone dumping a lot. Largest trade I have seen is 200K but I am not watching closely at all. I am looking at a 1 min chart and IMO you are seeing 1 of 2 things. Either CSCs shares are now in the hands of the MM and they are entering the market through a "dump" of shares. Meaning their MM has XXX Shares and instead of placing them on the ask he is filling any larger bid orders.
Or someone out there who has 20M shares is looking at the lack of news and your hard work and seeing the ability to make the market as a hole expect a dip. That expectation is self fulfilling and so the PPS can be dropped with a few well placed orders as soon as the bid drops.
Both cases are probably true The MM would be the one who would be placing those orders.
For example if I have a 150K bid in at .065 and there is 20K at .066 and then 200K at .07 you drop 5 trades averaging 30K but getting larger with each trade at .07. Then you fill the bids with CSCs shares in a lump. The PPS drops from .072 to .07 in a small flurry. Before anyone adjusts their ask you drop the bid and fill my order at .065 the bid becomes .062 and the ask is .072.
The reaction of the market is to lower the ask which can cause a few to market sell and the MM can pick up some .062s. If he is lucky he can continue the trend for a couple of days and then the PPS recovers. That is how they make money.
Anyone like me mike or mojo who is willing to sell and reload will only help the MM and get the PPS to drop drastically and gain substantially on the rebound.
The best chartable example of this is June 25-June 28. With a full price recovery the following day. You can see the "high" volume for those days.
The dip today is a great opportunity if you can get some. If they can make the trend last 3 or 4 days you will get those 5s you are praying for but you better time it right cause the bottom will last about 15 min and will have about 2x the average volume of any other 15 min period in the last few days. I personally would rather buy them on the way down then on the way up. If you want .059 and it touches there you wont get any below .062 and you wont get them on the rebound. The only way to load on dips is if you load on the downtrend.
If you wait for the uptrend to start you will be buying at the same price you are selling.
IMO .065 will be the lowest you can buy at. the PPS might get to .062 but i dont think there will be shares available there.
I also dont think the trend will last 4 days but if it does I will buy again at the bottom
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