Trading Summary - May 3. The day went far bett
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Posted On: 05/03/2019 10:48:57 PM
Trading Summary - May 3.
The day went far better than it might have.
From the open, it was obvious to me that several traders were willing both to hit the ask and to support the stock by placing bids in depth at .2300 and above.
Those that failed to analyse the Level 2 information correctly and continued to bid below .2300 - there were multiple bids in the .2000 > .2300 range - didn't get anything on the bid.
Remember, bids don't show for a particular MM at any level below the top bid from that MM.
When it became obvious that no more could be bought at bid prices, individual traders made significant buys in the 10K > 15K range set as market orders across multiple price levels to the upside.
.2850 was reached relatively easily and taken out on more than one occasion - with .2999 being next up..
Those attempting manipulation - with an artificially low ask sometimes with up to 20K - were invariable taken out or they cancelled - particularly whenever the spread closed right up.
Overall, 230,142 shares were bought today - in the range .2300 to .3000 range.
Savvy traders were not only able to increase their overall inventory of shares but also get sizable lots at lower individual cost bases to keep in their core for $1 and above.
Closed with a 10K buy on the undercut ask of .2848 with 83 seconds to go - slightly below the bounce hod of .2850
Information came through from $TMPS that the Omega protest was only related to the procedural issue of $TMPS being classed as a "small business". This should be resolved quickly - perhaps within 15 days.
We should see an early break above .3000 again on Monday.
The day went far better than it might have.
From the open, it was obvious to me that several traders were willing both to hit the ask and to support the stock by placing bids in depth at .2300 and above.
Those that failed to analyse the Level 2 information correctly and continued to bid below .2300 - there were multiple bids in the .2000 > .2300 range - didn't get anything on the bid.
Remember, bids don't show for a particular MM at any level below the top bid from that MM.
When it became obvious that no more could be bought at bid prices, individual traders made significant buys in the 10K > 15K range set as market orders across multiple price levels to the upside.
.2850 was reached relatively easily and taken out on more than one occasion - with .2999 being next up..
Those attempting manipulation - with an artificially low ask sometimes with up to 20K - were invariable taken out or they cancelled - particularly whenever the spread closed right up.
Overall, 230,142 shares were bought today - in the range .2300 to .3000 range.
Savvy traders were not only able to increase their overall inventory of shares but also get sizable lots at lower individual cost bases to keep in their core for $1 and above.
Closed with a 10K buy on the undercut ask of .2848 with 83 seconds to go - slightly below the bounce hod of .2850
Information came through from $TMPS that the Omega protest was only related to the procedural issue of $TMPS being classed as a "small business". This should be resolved quickly - perhaps within 15 days.
We should see an early break above .3000 again on Monday.
(1)
(0)Tempus Applied Solutions Holdings, Inc. (TMPS) Stock Research Links
"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.
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