Iron, nope- no clue either.
The open today was bizzaro as I've seen - and this BHRT one is a real bizzaro one in all ways and forms, to say the least.
This thing put-on like 3 MILLION shares in what seemed like a blink after open and made a day's low of .0046, back in those .004's- but that huge block of shares seemed to be nowhere on the Level II? All the way to the .004's and then faster than a blink, BMAK came in on both sides and set the range back up to about .0053 Bid to .0057 Ask, where BMAK is now parked on the Ask with the "capping" block, as usual.
The dilution MM's "working this thing" are rumored to be the best of the best- mainly BMAK and CDEL who from my Google and I-HUB and other searches/research are pretty well established to be known as the trading desks or MM's of choice for Magna, Asher and a hand full of other convertible debt, toxic finance joints. That's what I've read via researching, I-HUB has a few boards dedicated just to these dilution MM's and how they "do what they do".
But this AM opening, wild stuff- I don't have a clue where that volume came from or what a OTC "pre-market" is or how it's even possible, let alone labeled as "cash"??
BMAK has the daily "cap" set right now at .0057 with the 10K share block, but they look like they're taking it down a notch as we speak. The MM's right now seem to want about .005 for the share price, unless of course someone wants to sell even $500 worth- then the Bid gets buried. If one wanted to unload/sell, say even a lousy $2K or $5K worth, I'd bet these MM's take it to the low .004's faster than one can spit. That's the "game" the deal as they have it set up right now IMO, from what I've been watching in the trading.
Wanna buy- one pays the full spread premium, mega wide spread some days. Wanna sell more than say $100 bucks worth, the dilution MM takes that Bid down like a lead boat anchor, faster than a blink, as of recent to the .005 area, even .004's range.
I think the next down leg, the next debt conversion or Magna "draw down" (which I'd guess is coming any day, any time here)- I'd guess that these MM's will make a down-leg to the .003's for sure. It's touched .004 two times now just recently on very high volumes. These dilution MM's run "tranches", these stair-step like patterns with lower highs and then lower lows from what I've seen and read about um. So I think the .003's get hit on this next leg- whenever it comes. If BHRT makes a "draw request" to Magna or if one of the dilution lenders converts a good size chunk- that IMO is the "event" that takes it down the next "tranche" or down-leg.
My .0055 cents or so worth, for what it's worth
Posts contain only my amateur opinions, personal views and thoughts. I discuss stocks as a hobby only. Always do one's own due diligence before investing.
