Post by
falcon51 on Feb 27, 2021 9:30am
Thursday, Friday's Action
Now that the dust has settled, lets have a look at what transpired over the 2 days of trading. Because this news was a surprise it sent the stock to $.10 in the first 4 minutes of trading on Thursday, so 90% of the volume that day was at $.10 -$.12 up until an hour to close, then the minor dump happened and all was good. Friday seen a massive amount of buying at the open with a minor gap up to $.11, once the stock hit $.125 it stalled due to the major selling pressure from Anon and the National Bank . Any experienced trader would have picked up on this and would have also started dumping, which was what happened. The rest of the carnage was panic selling due to the fact that most were in at the high and were trying to cut their losses. Then you have the ones who waited a while to see if it would bounce back after the first few hours which never happened so they probably started selling also fearing the worst case scenario. So to put it in perspective this was not a Pump And Dump due to the fact that it wasn't planned or leaked, The problem was too much volume at too high of price to quick in the run up and stalled without a second day run. Add to that oil stocks were selling off on Thursday and Friday due to a drop in WTI, markets were down big time so a lot of jittery people in the play. For next week, who knows, will have to wait and see what their earnings bring to the table. Just my thoughts, that's all. Have a good weekend