The MMs accumulated lots of shares during the day from the time when the stock fell back from .32 in the a.m. until the close. As a consequence, they were not hurting for shares at the end of the day, and were better able to control the stock price at the close.
this could mean several different things:
1. The MMs are planning on taking a big ride on Monday
2. They have big orders from the brokers for the stock, and plan on holding it until the stock runs up Monday a.m.
3. They plan on manipulating the price on Monday, drawing in a lot of players in order to increase the multiples on their spreads
In any event, it was a very controlled close, with the MMs even reducing the bid at one point during the run, and this leads me to believe that everyone should play "heads up" on Monday.
If the MMs game plan is either #1 or #2 above, and you are holding shares, you can ride up with them.
If their game plan is #3: - "stick and jab, bob and weave".
All of this is Opinion, only |
