Posted On: 06/06/2016 2:31:42 PM
Post# of 174
Trading Update - June 6.
Well the promo / dilution selling does appear to be very well controlled - no huge stacks on the ask and the MMs selling 10K switching around and on and off..
They have managed to clear out the .0023>.0027s on only 26M.
However, that did include some big bid whacks from profit takers and some dilution sells at non-retail prices - most recently 2.99M whack into the bid at .0026 and 4.65M at ..00245 and 2.99M at .00255.
Total volume so far now 142M of which 100M+ has been bought at .0022 or above.
Good luck to anyone that is still in it - but it really could go either way.
If one of the MMs puts a large bid in at say .0027>.0029 to give the impression that it might break .0030, and then one greedy person whacks into to make a $1K today, there will not be much of a bid at each .0001 level going down.
Well the promo / dilution selling does appear to be very well controlled - no huge stacks on the ask and the MMs selling 10K switching around and on and off..
They have managed to clear out the .0023>.0027s on only 26M.
However, that did include some big bid whacks from profit takers and some dilution sells at non-retail prices - most recently 2.99M whack into the bid at .0026 and 4.65M at ..00245 and 2.99M at .00255.
Total volume so far now 142M of which 100M+ has been bought at .0022 or above.
Good luck to anyone that is still in it - but it really could go either way.
If one of the MMs puts a large bid in at say .0027>.0029 to give the impression that it might break .0030, and then one greedy person whacks into to make a $1K today, there will not be much of a bid at each .0001 level going down.
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"Per Ardua Ad Astra" - "Through Adversity To The Stars"
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
