False ASK (Cancelled eventually if chipped into because they don't really want to be forced to sell them as the pps goes higher)
The BID has climbed and without the ASK being blocked, we go through $1.31 and cut into the upper levels of the long candles in December. The last thing the MM wants is good news from the $1.50 area!!!!! They want shares now and as cheap as possible.
I'm not sure I agree with that appraisal. There has been selling today - over 860k shares traded already today, appears to be on track for at least a million shares traded. The price movement combined with the volume is a very positive indicator, IMO. Now there are always "fake" positions, short term bids or asks with no intention of executing - that's the nature of the trading game today. But I don't think CUR is seeing an unusual amount of fake asks, just seeing some genuine share turnover as buying overwhelms selling. I believe that real shares are being fed into the market, and being gobbled up soon after. If so, it's a good sign.
There have been legitimate sell-asks today.
You said that the turnover was a positive indicator. i agree.
If you read my earlier posts, since I committed to CUR at $1.00, much of the dynamic I write about and much of the exchange here on the board regarding many of the topics is constructive, balanced, and certainly bullish. Even if the ASK were a false ASK, the nature of that motivation by an entity would be bullish as that is usually a set up to accumulate shares by the same entity on the BID. Turns out shares on the ASK are selling today legitimately, which is even better, as we move through a key resistance level at $1.31 -
CUR has been over sold for the month of December as many have discussed here. The low volume was an indication of little buying, but my argument, and that of a few others here, has been that, MORE IMPORTANTLY post-engulfing candle in December, is that the SELLING ENDED. Another key point is that the resistance levels where we are are not as strong as we've already worked through them recently, so the move up the last two days (and let's hope through news on Wednesday and in reaction to that news) has been strong and accomplished with fewer shares on the buy side. LONG CUR.
My view was positive in terms of present and eventual pps movement to the further upside. While I was writing the comment regarding a possible false or an eventually cancelled ASK to slow things down, a large portion of the 80,000 share ASK went through as a buy/sell, so that was not a false ASK. While apparently a disproportionately high number of large ASK and BUY blocks get cancelled in HFT, in the case of CUR here at $1.31, it's resistance, which is being eaten away. What I had to say was positive as well.
$1.31 and counting .
My cuz is a great chartist and called the 1.31 earlier this morning .
Now he is off to a job and I wish he could see it and I could get some thought waves confirmed .
I'm in and staying in .
We're heading to $2.- and the recent MM behavior is pointing to a higher level. Remember the micro attempt at a bear raid/stop loss attack yesterday? It came the afternoon before the announcement of this UPDATE. MM knows the pps is climbing. The heavy ASKS on these climbs are transparent in intention at this point. The pps goes higher. They're trying to slow things down and literally block the continuing climb.. Go CUR.