(Total Views: 328)
Posted On: 10/27/2019 8:20:34 PM
Post# of 86965
The volume over the last 2 months and the tight trading range do not support a theory of many flippers in my opinion.
Plus at .011 it takes much more money to flip for small profits as opposed to flipping "trips" or "doubles".
If you flip .0004 to .0006 you make a 50% profit.
If you flip .0105 to .012 you only make a 14% profit and that is not what flippers are looking for plus you need much more money to flip a stock that is over .01
IMO by now MM's have unloaded any shares they accumulated as MM's are not investors and do not want to hold shares.
What is strange to me is that for 3 to 4 hours L2 is extremely thin and then suddenly someone will put 500k on the Ask to stop any upward momentum. I am not sure who does not want the price to slowly move up !!!
Plus at .011 it takes much more money to flip for small profits as opposed to flipping "trips" or "doubles".
If you flip .0004 to .0006 you make a 50% profit.
If you flip .0105 to .012 you only make a 14% profit and that is not what flippers are looking for plus you need much more money to flip a stock that is over .01
IMO by now MM's have unloaded any shares they accumulated as MM's are not investors and do not want to hold shares.
What is strange to me is that for 3 to 4 hours L2 is extremely thin and then suddenly someone will put 500k on the Ask to stop any upward momentum. I am not sure who does not want the price to slowly move up !!!
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