It would have been a T-trade. It could have bee
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Posted On: 09/24/2019 8:33:41 PM
It would have been a T-trade.
It could have been shorts arranging a deal to cover when it became obvious they were not going to get it below .0042 - which I believe was the low yesterday as well.
I wasn't watching at all yesterday or much today as I had a lot of other movers.
So I don't know the strength of the ask buying pressure to get the reversal - apart from ever since it last got above .0040, those reversing it by ask buying to get 5 to 7 ticks to flip have been beating those trying to take it down.
Although T-Trades are sometimes dilution, that qty would have been way more than any bid at a single price point.
It could have been shorts arranging a deal to cover when it became obvious they were not going to get it below .0042 - which I believe was the low yesterday as well.
I wasn't watching at all yesterday or much today as I had a lot of other movers.
So I don't know the strength of the ask buying pressure to get the reversal - apart from ever since it last got above .0040, those reversing it by ask buying to get 5 to 7 ticks to flip have been beating those trying to take it down.
Although T-Trades are sometimes dilution, that qty would have been way more than any bid at a single price point.
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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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