What does this tell us about what people are doing. Do you think MM are trying t ocreate downward pressure to get stock to level they will jump in and buy hand over fist or is this people bailing on the stock. Volume not strong at all.
seems textbook MM & computer trading to me. The main event trade has passed. We have some time in the interim where there will be a void of news, aka rest period after the big battle, and we are just after qtr end. generally low volume. if I were an algo, I would be taking advantage of these points to move it down until buyers stepped in, which pretty much seems to me what is happening, and then I would take other side for a ride up. No emotion in algos, just trade on data. they use anything they see to their advantage, and data is showing that probably there are few new buyers right at the moment, there have been sellers unwinding the proxy vote trade, and coattail sellers after qtr end, and otherwise longer term holders are waiting for good entry points, like today for instance. just my 2 cents.