i've little if any time for watching stocks these days, but i took a quick gander and noted that 27M of the 31M that ETRF was offering has disappeared without a trade.
just speculating, but seems to me what we've had here is an 'Ask Blocker'. its the way a bottom accumulator might build a bigger position. the idea is both to slow down the buying and induce selling by showing enough shares at the ask to make the market leery of playing in the stock. todays ask shrank with the news. doesn't mean this runs, but it's a good sign.
btw, it can work the same way in the opposite setup when there's big support on the bid so as to make dumping at the ask easier. many times we see big bids disappear with buys on the ask only to see the stock trade down.
big money can do big things, bad things to puny retailers. its a game all too easily manipulated. i'm still of the impression that this is nigh unto bottom. but....
good luck to ALL
rich
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