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Tuesday, May 20, 2014 1:45:45 PM
Also, volume has dropped way off on several days, where it just "flat-lines" for an hour, sometimes several hours w/o a single trade on the tape. Several of the past days, it's only traded maybe $10K to maybe $15K total for an entire trading day. That's like qty-10 or 12, $1K trades maybe.
Look at the bid/ask spread right now. Bid is .0236 and Ask is .0247. It can have a 5%, 6%, sometimes 8% spread, just to get a $500 fill.
IMO, historically, when it gets to this low volume, "flat-line" periods, lower high and lower low mode- it's getting ripe for a big drop. I still think it's gonna head for at least the 200 DMA at .019, IMO. Maybe lower. A few big sellers, and this can drop 10% even 20% in a single move, seen it so many times in the past, when it's in this "high spread/low volume" mode it's in now.
It's already hit about .022 several times now in the past month on a big chart. That's getting real close to that 200 DMA of .019.
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