Nice tape exchange this morning VNDM was low ask
Post# of 39368
Nice tape exchange this morning
VNDM was low ask for a little while, but got cleared out and a bear retaliated with 307K hit into CDEL bid at 1.9 cents. They re established an ask wall at 2 cents showing a little over 500k spread across different MM's but it's likely the same guy or affiliated entities.
Basically, the bears are trying to prevent a Friday breakout above 2 cents which would attract a lot of attention to TECO over the weekend by flippers, momo traders, promotional newsletters, and heck probably some investors. The problem is that the technique is less effective when a company has the nut.
The bears know we are in a daily chart uptrend coming off the lows with tanks of oil and more behind it. All they are doing as far as I'm concerned is keeping the lid on a pot of boiling water, or oil in our case, and the fire is just getting started.
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