$PROG shorts and market makers are telegraphing a move to the upside. To everyone who is freaking out and calling this a dead play, you're looking at consolidation. Calm TF down...

Wyckoff Accumulation final phase of consolidation is following trend.
Market makers and call sellers still have until Tuesday to make their deliveries. This activity demonstrates an engineered sell-off. They need panic selling in order to scoop up shares on a discount before the next leg up.

The fewer who sell, the less we move to the downside.
We're going to go through some volatility this week as they play their games. T+2 to deliver options and an additional T+6 for market makers to close the outstanding FTDs that result.

Have patience and let the algorithms burn themselves out. They're operating on auto pilot...
and they're losing money hand over fist in the process. They will continue to ladder-down the price until they reach their target. The more of us that buy the dip or simply hold, the more money they waste in the process.

Just be patient. Patience is 🔑

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More from @TRUExDEMON

23 Nov
Hey everybody 👋
This thread is to address the dilution that $PROG just announced in their new SEC filing.

I'll preface this by saying very bluntly that I AM NOT SELLING and help bring you the facts so that you can make an informed decision on your own.

Lets get started.
Here is the filing so you can read along:

The first thing is that $PROG expressed they'll dilute by exactly 18,404,908 shares for $4.89 per share, at an aggregate total of $90M.

The filing also explains the previous week's increase in outstanding shares
As we suspected, warrants and convertible notes were exercised in addition to the 13.3M shares that were sold on October 5-9.

The filing explains that their outstanding shares have increased to 197.253M including this new offering which will be a public offering.
Read 17 tweets
22 Nov
Back in the rising channel once again, this time after a hedgie load up and over 150k calls expiring ITM last week. $PROG is still moving aggressively toward a steady climb and short squeeze.

Technicals looking good
Plenty of calls on the chain for this Friday, but pretty modest in comparison to last week. This is a very weak gamma ramp relative to that.

We are still waiting for unhedged calls to be delivered today and tomorrow, so we can see some significant buying today....
... but we will see how it plays out on the charts.

Shorts were not covering last week, which means they were most likely trying to return and re-borrow shares that were failing to deliver.

And the cycle continues lolol😂
Read 8 tweets
18 Nov
I'm going to cover one last item on $PROG today. I was looking at the Unusual Whales FLOW that Hootmoney posted, and there is definitely something happening here.

The OI on $5 and $7.5 calls for $PROG went absolutely nuts in the afternoon today, and I only just noticed.
Almost all of the bearish volume came from selling call options at the end of the day, which I STRONGLY suspect is being done in order to quickly secure premium and scalp some cash before the options expire.

This is a very common action, but for it to happen in these numbers...
... holy shit. There are 111,295 calls OTM on $PROG between $5 and $7.50

That's a combined 11.13M shares on the table.

Those weren't there this morning.

A fair amount of these may be retail, but many times more are likely coming from market makers & HFs.
Read 17 tweets
17 Nov
Wrong ticker, homie. That'd $PRG... not $PROG.

You've got the wrong company.
This is a warning in common investing mistakes.


This error happens so frequently in trading that it has actually caused squeeze events because a stock rallied, and in the FOMO scramble, other stocks with similar tickers have rocketed with them.
This is a really good way to lose money just because you didn't spell check your ticker symbol.

Make sure you know where your money is going before you hit that buy button.
Read 4 tweets
17 Nov
$PROG OTC/Darkpool activity indicates that algos and institutions are the main responsible parties for this price action today.

We continue to see tons of selling pressure routing to the exchanges whilst.

Reminder to use directed market orders to send your busy to the exchange.
This is a speculative explanation, but I have noticed that because of the plethora of available shares in dark pools, it seems likely that MMs will buy large sums of shares in DPs to grab an inventory of shares on the cheap.
This allows MMs to fulfill buy orders from their inventory instead of buying on the exchange, preventing the NBBO from being affected. Meanwhile, they can route any sells directly to the exchanges on a selective basis to create the illusion of massive selling volume.
Read 4 tweets
17 Nov
Really liking this Wyckoff pattern here. $PROG is still on it's way to greatness. This little retest of $4.80-$5 is just confirmation.

Even if $5 - $7.50 calls expire OTM, this was a massive victory.

I've closed/rolled/exercised all of my 11/19 call positions.
Most of my remaining contracts are set up for January for safety reasons. (Always give yourself more time than you think you need.)

But the pattern looks like it's going to play out to completion before Dec 17, so I bought a big load of calls on the dip for 12/17 too.
At this point, bulls have done so much damage to shorts this month that I have supreme confidence that the squeeze is coming soon.

And while I do not recommend FOMO-ing into any stock for any reason, $PROG is showing the strongest signs of squeezing of any other play this week.
Read 11 tweets

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