Short Summary - October 2. A satisfactory statu
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Posted On: 10/02/2023 4:26:43 PM
Short Summary - October 2.
A satisfactory status quo day with effectively no change at .0025 after 49.4M traded.
This was particularly disappointing as clearly some amateur traders were impatient to take low-level profits and wasted new interest buying power that had built up over the weekend which might otherwise had got .0040 > .0050 up.
First mistake was that, prior to the open, people failed to cancel all asks under where MM ASCM had retreated to on September 29 - .0027.
Second mistake was to continue to undercut the ask at .0027 in the .0023 > .0026 range - even after .0026 had been bought out on a hail mary buy set at .0027 which also took the majority of the .0027s.
Third mistake was one or 2 people whacked the large 8.5M bid at .0024 only to have the .0025s bought again before the close.
Traders need to note that every 1M sold at .0025 instead of .01 is throwing away $7.5K in profit and throwing away $17.5K at .02!
Latest Overview here - updated October 1, 2023:
https://investorshangout.com/post/view?id=6624848
Hopefully we will see more common sense used in the trading tomorrow!
A satisfactory status quo day with effectively no change at .0025 after 49.4M traded.
This was particularly disappointing as clearly some amateur traders were impatient to take low-level profits and wasted new interest buying power that had built up over the weekend which might otherwise had got .0040 > .0050 up.
First mistake was that, prior to the open, people failed to cancel all asks under where MM ASCM had retreated to on September 29 - .0027.
Second mistake was to continue to undercut the ask at .0027 in the .0023 > .0026 range - even after .0026 had been bought out on a hail mary buy set at .0027 which also took the majority of the .0027s.
Third mistake was one or 2 people whacked the large 8.5M bid at .0024 only to have the .0025s bought again before the close.
Traders need to note that every 1M sold at .0025 instead of .01 is throwing away $7.5K in profit and throwing away $17.5K at .02!
Latest Overview here - updated October 1, 2023:
https://investorshangout.com/post/view?id=6624848
Hopefully we will see more common sense used in the trading tomorrow!
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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.