Post by
trader53 on Aug 10, 2023 5:38pm
Accumulation continues!
It started yesterday when 100,000 offer at .42 showed up. This panicked the retail crowd who were fearful of a pullback and I watched many many 3,000 to 9,000 share positions looking for an opportunity to get out. This morning the offer was still there but was increased to 150,000 and again many small holders panicked and cashed out. As selling was swamping the .40 to .405 level the offer increased to 200,000 along with another 100,000 behind it. The offer moved down to .41. The market was .40 to .41 with 6000 on the bid and over 200,000 on the offer. At exactly 10:17 300,000 shares were lifted and the shares traded as high as .45. What did they do next they pulled the bids and watched as more of the retail trade unloaded their positions down to .42. A very clear lesson how funds accumulate and are very aware of the fear factor that attacks so many small shareholders. The push to .45 would get every ones attention as would the weak bids that followed thus triggering more selling. The perfect picture of the patience of these institutional trading strategies.