Post by
Wino115 on Feb 04, 2021 9:16am
PreMarket Mkt Making guesses
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.
Comment by
Wino115 on Feb 04, 2021 9:22am
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.
Comment by
Wino115 on Feb 04, 2021 9:31am
They 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.
Comment by
Wino115 on Feb 04, 2021 9:40am
There's some chunky sellers in there putting multiple 20,000 share offers out there to get hit. It always amazes me how many people are willing to ditch this stock even when there's decent news to support a 12 month trial. Who are these sellers and where do they come from? They have to not know a whole lot about the company.
Comment by
Bucknelly21 on Feb 04, 2021 9:42am
Well I played a little in pre market made a nice little chunk this morning lol