I'm looking for suggestions on why the price movement is U shaped on a daily basis. We seem to have a block seller in the AM that drives the price down 10+ cents, and then a block seller in the PM that drives it right back up 10+ cents. Are these the same entity? I assumed that it might be a short seller in the AM who then covered at the low price, but if that was the case there would be no incentive to drive the price up at the end of the day.
I have used these little swings to average my cost basis down....while increasing my share count. I use 20% of my core position to trade in and out. If it gaps up, then I still have 80% of my core position.
Only to frustrate retail investors into selling their shares at these very cheap prices so shorts can accumulate shares and cover their short positions. I won't be surprise to wake up one morning to see that several millions shares have been cover "over night" and then the price would gap up and open much higher...IMO.