RE:bid and ask (manipulation? who knows)DJDawg wrote: I'm not one for saying that stock price movements are because of manipulator but the bid ask today is interesting.
Someone put 181,500 on the ask at 0.17
There is a bid of 95,500 at 0.165 and another 50,000 at 0.16
So the person with the bid at 0.17 could sell 145,500 for $24,735 if sold at 0.17
OR if they really want to get out of TLT asap they could just sell a similar amount for 23,757.5 and take the bids right now at 0.16 and 0.165, In both scenarios they "exit" most of the position but the price difference is a bit less that $1000.
Follow my logic here. They really want to get out, to the degree that they are putting a large ask at 0.17 but are holding the line for an extra $1000. Whenever I've sold out a larger position, I have done it in small chunks over a day or two to not create a ripple.
I feel that putting a large ask right there is likely to create a wall that most will not have the funds to buy into. Or they will be nervous about further dips so hold off. It feels fake in terms of how normal people try to buy, sell or hold. But that is my opinion.
It is frustrating as it does feel manipulated and not a fair reflection of TLT's science and overall worth. If I had the cash I would buy out that ask as it is a good deal but, like most of us, I'm maxed out for now. Which is the perfect scenario for a stock to be manipulated at.
ps: the bid ask may be slightly different buy the time I finish writing this.
Dawg, this unfortunately lines up with my "Roger put a target on the back of his company by running it into a liquidity crunch every 3 or 4 months" theory. The sharks are data centric beasts who asymmetrically game retail all day long. I don't know what buyer depth looks like on L2 each day but that certainly bears monitoring. The .16 technical support is very important because beneath it is an airpocket down to .125 (the 2020 lows), so I would hope there is strong buyer interest to hold that support. If I had to guess, the upper bound "wall" is not set in stone but more so staggered between about .17 up to .20.
Friday's activity was anomalistic because usually that kind of volume and behavior occurs around offerings so I took it as a message that the manipulation game is on imo. Like i said the overall net selling that day reeked of manipulation. This game can be played as long as the company offers no meaningful catalyst aside from a data update prior to the next offering announcement.
I don't give a lot of weight to the tax loss selling theory this late in the year. Usually tax loss selling is completed by mid to late November, so the 30 day wash rule is out of the way prior to EOY. This is partly what causes the January effect in a lot of the micro caps. All imo.