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Tuesday, October 21, 2014 9:30:07 AM
The current traders that are flipping WLAN appear to be getting their shares by convincing the current longs to sell. I hope that will stop.
A lot of traders who think of themselves as flippers often become longs. Flipping a stock is often harder than it looks.
When more traders come in it also closes the gap and stops the declining price. Our current gap is now over 50%.
A daytrader's goal is to drive the price.
The end result is always more shares being bought.
I will be watching the stock real close today. If we form a base @.002 then the answer will be no. If we don't get a base, the faster we find a base the easier and higher the rebound.
Even though I still have 3k set aside for Wialan in the trust I just transferred money to a discount broker so I can buy and have it show on L2. But there's a time lag in the use of that money. Trust accts are protected and don't show on reg L2 by default. I think I need a visual at this point.
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