RE:RE:No volume for sureYou're on target with this post....thanks.
Now, if they could stop with the short interest vs short volume misconceptions.
NosajEwad wrote: As with my other post, L2 is so fluid with penny stocks were shorters and flippers abound that it really only a snapshot of what people are wanting you to think. I can put a big ask or low bid an pull it just to give false indication of interest.
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With penny stocks, L2 is useless and used to manipulate interest. Unless everyone slams into "Market Price", how many bids are sitting between any levels is just useless.
Anyone can put up a bit at a value and take it down, same for asks.
If anything, watch the RSI for over sold/overbought points to not be beat up by the flippers. I was going to sell out at .14 but had to leave the office, got home and it fell faster than I was ready. Now its OverSold again, so thats what is better to watch.
Also, in my experience any moron stating "To the Moooooon" encouraging you to buy, is looking to sell theirs, and anyone claiming a crash and asking you to sell is looking to buy.
Flippers drive these stocks in waves. Catch one, make some bucks and rinse/repeat. Those of us with jobs cant sit and flip all day but you can see the pattern.