Watched this yesterday, GLED was very aggressive on the bid, at one point raising it to $2.00. They jumped the bidder @ $1.03 and quickly picked up the full 2600 whack @ $1.04, despite just showing 100 on the bid....its not even fair for a average person trying to trade against an algorithm using Level III. However, if GLED wanted those shares so badly, then there is a good chance this is going up, as they typically get paid handsomely on the bidwhacks they pick up.
In the months I've watched this, I never saw any bids above .31, so to see the recent new bid action is interesting but I've been unable to figure out what the Chinese are doing with this, so its hard to gauge how much I'd be willing to pay here.....but I think shares around $1 are probably a pretty safe bet at this point, just based on what I saw yesterday.