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Posted On: 09/22/2021 7:09:55 PM
Post# of 72440
I don't get to watch the LII's every day. Today I saw some major bidding and weak asks, other than the typical "walls" the MM's put up in case someone (this would be retail) wants to attempt to spike the pps thru their own buying. i.e. if you have the money, you may be tempted to take out the ask and push the price up to see IF the market "wakes up to follow" pressuring the buy side. MM's set their algos on both the sell and buy side to catch it so it's really not worth it.
Anyway, I saw 125k bids (or there about) holding the price up. It seemed to me there's a very strong accumulation inflection point coming. To me the charts don't support a reversal to the upside but the MM's seem determined to do just that. Or, their alternative would be to start to cover their (should I say naked shares?) short position. And what really might there be? Barely 1 mil that we can see? Regardless, and more to the point if you lasted this long, I think the MM's are basing and prepping for the data we've been waiting for. To me, that's what I was seeing, and do see when something is setting up. Will it happen? My chart says no, not even close. The trade action I was watching? Well, that's why I'm mentioning it. And no, none of my orders have filled this week since I pulled them waiting to see a more solid bottom. So, no, I write what I see, not to manipulate. Pete corrected me on my data timeline GUESS. We could be close. Within a couple weeks possibly. My last bio released data 2 1/2 months after trial completion. IPIX completed the end of July.
All imo and who knows.
Probably makes no sense to anyone but me anyway. lol
Anyway, I saw 125k bids (or there about) holding the price up. It seemed to me there's a very strong accumulation inflection point coming. To me the charts don't support a reversal to the upside but the MM's seem determined to do just that. Or, their alternative would be to start to cover their (should I say naked shares?) short position. And what really might there be? Barely 1 mil that we can see? Regardless, and more to the point if you lasted this long, I think the MM's are basing and prepping for the data we've been waiting for. To me, that's what I was seeing, and do see when something is setting up. Will it happen? My chart says no, not even close. The trade action I was watching? Well, that's why I'm mentioning it. And no, none of my orders have filled this week since I pulled them waiting to see a more solid bottom. So, no, I write what I see, not to manipulate. Pete corrected me on my data timeline GUESS. We could be close. Within a couple weeks possibly. My last bio released data 2 1/2 months after trial completion. IPIX completed the end of July.
All imo and who knows.
Probably makes no sense to anyone but me anyway. lol
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