RE:RE:RE:Stop Limit Orders80,000 on the offer at $3.00. This was a stop loss limit order that as been converted to a sell limit order now. It was triggered when price fell below. This shoul get scooped up by hedge fund unless the seller removes it in time.
Sugaree wrote: The stop loss orders sold for 74,700 at 3.15 and 53,300 at 3.16 yesterday are sadly gone forever from the accounts of foolish retail investors using stop loss limit orders, and into the coffers of a large hedge fund.
Today, the fund changed tactics and went the buy up route. Stock runs up 17 cents on extremely low volume around 220k. People, how can we run up that much on such low volume? Answer, there are no shares for sale! Only way for them to accumulate is to switch up tactics daily. After a nice run up they will look for more stop loss limit orders from retailers, and run it back down to steal more shares. Rinse and repeat.
Never, ever use stop loss orders!! They are a creation to sucker retailers.
Sugaree wrote: Classic Stop Loss Limit Order shenanigans this morning stealing shares from unsuspecting retailers during this accumulation phase by hedge funds.
Quick shorting driving price down from 3.20 to 3.09 on lower volume. On rise back up there was 74,700 offered 3.15, and 53,300 offered 3.16. These were not new offers people, these are original stop loss limit orders that have been converted to limit sell orders once the price broke down through them. An easy grab for these funds to accumulate cheap shares. Boom both large offers taken out!
Example, a hedge fund shorts a stock 40,000 shares from 3.20 to 3.10, and then buys it all back up to 3.20 on 100,000 shares and accumulates 60,000 to their long position. Repeat this for a few weeks and builds a nice sized long position. When happy with their position, then move it up by only buying up and not shorting anymore.
Sugaree wrote: Hedge funds scolded retailers with stop limit orders past 2 days. How do I know this? It took massive volume to drive the stock down and minimal to bring it back up. They scooped up a massive number of shares from the tepid. The remaining longs are not selling and the funds see they cant get any more cheap, so time to drive it back up. But not much for sale now, the easy shares have been scooped. Thus, initial ride back up occurs on low volume.
It will be a bumpy ride up, but the ride is up from here imho.