RE:RE:PreMarket Mkt Making guessesThey tried to drive it down the last 5 minutes but solid orders kept coming in above $3 and kept it there. Nice open, more buying interest and depth than selling interest so just might hold and go up from here.
Wino115 wrote: Solid buying interest at $3.20 level. Going back up. Market makers will be worried on covering their shorts! I think if it hits $3.50, it will really break through as those 2 mil shorted shares I've guessed at can't have seen more than 1mil covered. $3.50 break will lead to $4.00. That's my totally uneducated technical guess.
Wino115 wrote: So about 2 mil shares seem to have traded above that $3.70-ish level. If we assume most of those were shorted by market makers, they need to buy 2mil shares below there. I'm guessing they want to do that before the market opens or close to getting done before. So perhaps they are buying here and they have that lid on at $3.50.
I guess it's algo's and Europeans buying in pre-market mostly. If premarket hangs in here at $3-$3.20, I can see there at least being some kind of blip for Canadian and US demand in the morning and maybe we'll see those new "LT shareholders" Dubuc mentioned step in to soak up the weak hands. May be a chance we hold that $3.20 for the close.