@Rain Cold so this was a portion of his numerous post about the Short Sale Halt, MMs and manipulating the price and why holding is key. Man there is so much info over there, good stuff, I just don't fully understand it all
Trading Action - Thursday, 12/24/2020 by
Sweetinnj in
MVIS
[–]T_Delo 47 points 12 hours ago
Good morning everyone!
Yesterday's action has been detailed to have happened under a Short Halt, short sale circuit breaker deploys an uptick rule keeping shorting restricted to only being on the ask side. The activity was detailed for what it was in my thread on the Short Halt for December 23rd, 2020. With that knowledge, we know today cannot be shorted into the bid today either, downward movement is either again a long position trying to scare others and accumulate more, or more likely a Market Maker attempting to resolve a short position or accumulate themselves. Either way, it is not a result of the stock being in a bad position or anything negative for us at all, just hold and wait because the price will ascend again.
The efforts of the attack on the share price yesterday appeared to have hit a wall in the mid 6 range, and the price is ascending a bit in premarket. Moving forward we should see either a flat day that tries to continue the repression of the buying interests and volume, or the price surges against that suppression and we move back to the previous height. Premarket volumes are already fairly high, and the interest has not wavered. With profits from a day trade on another stock yesterday, I will again be buying some more today at these discounts.
Nearby pivot points above right now are at 7.47, 7.82, 8.33, 8.74, and 9.27 above from the volumes traded at these recent ranges. Father points above go all the way up over $11. Pivots that are close below are currently at 6.71, 6.30, 5.77, and 5.24. Deep below is largely irrelevant as if it dips below that there is going to be insane amounts of buying going on. Relative distance from the EMA trading range is a major buy signal on a massively oversold stock with no known true issues and only a bearish short article of recent note.
Today's shares available to borrow on the IBKR are currently 1,100,00, showing that indeed yesterday's move was about covering a short position of the market maker. My expectation is that the stock price either moves flat today, or starts it's recovery and move upward by end of day. It largely depends on the volume of buying interests here and whether the market maker now redeploys those shares to try to keep the price in check or not. Remember everyone, trade or invest smart, do not allow some entity to take your shares for less than they are worth.