Timing/price for bidding on HUD home that MIGHT reduce price soon

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Hello all - Completely new to this but I am finding fantastic information here. I am looking to buy a HUD home as an owner occupant. There is a home I am looking at that was listed on 1/24/17 for $128,000 then price dropped by 8% on 2/24/17 to bring it to $117,760.

Question 1 - Are price drops typically done monthly?  So could I safely assume that the price will drop again in a few short days?  Could I expect the decrease to be 8% again?

Question 2 - If I bid BEFORE the price drop, does it make any sense to calculate my bid based on what I think they will be dropping it to? So instead of calculating the Net to HUD based on current asking price, I calculate based on current asking price dropping another 8%?

Question 3 - Does it just make sense to wait for the price drop and then submit a bid?

The reason I'm tempted to bid BEFORE the price drops is that I would really like to get this house and so I want to bid before anyone else who might be waiting in the wings for the price to drop for the 2nd time. 

If it matters at all I qualify for FHA financing and will most likely go with FHA 203(b) Repair Escrow loan. And my credit is super duper.

Thanks in advance.