RE:RE:RE:RE:RE:What the ....................?Check out what happened today. We traded above $3.50 in the morning and not many sell orders to 4 bucks. Under $3.50 the buy orders were starting to building up. I thought we were going to break out and hold the price above $3.50. Once the price dropped below $3.50 to $3.48. A very large order from one brokerage which I’m guessing was TD showed up at $ 3.50 @ 18K worth 100K cash. There was only one order which means one person. The next thing that happened was a free fall $3.25. The big order disappears and the last trade was at 11AM @ $3.35 with a buy order at $3.40 and no takers so far. The trading has basically ground to a halt.
A - TD one order (one person) sold at lower prices
B - Once the big order was cancelled by one person the price recovered to $3.40 and so
far not much trading.
I pick B. That means the big fish isn’t going to show his hand unless he sees the buy orders building. To me level 2 is a waste of time when you’re dealing with a big fish or 2 but that is JMHO.
Now we have insiders with lots of 77 cent shares that they had to buy or probably lose the options. Anything above 3 bucks is a 400% gain. What are they going to do? Wait or sell???? Time will tell if they are selling. This could be making the shares very erratic today.
MM