Aug. 23, 2023
08/23/23 Today ORCL was recommended by an IBD swing trader. This likely caused some short term technical -price based- traders to buy the stock. Usually these traders will put in sell stops below the buy price. When orders are so concentrated because two or three firms control 80 percent of the total stock market volume it is easy for them to see and run the stops. ORCL dropped from 120 to 112 in 12 minutes on no news. It then recovered to 118.50 as if nothing had happened. What happened was Citadel got short to those IBD traders that were buying. Then aggressively shorted more to depress the price enough to trigger the IBD traders sell stops. Citadel was then able to cover for a nice profit. We need more market makers and the information of who is buying the securities should not be sold.