Elray Resources Inc (ELRA)

[Makamai]

I made my first purchase today, at the ask (0082) with the bid at 0081. Moments before the ask had been 0094. A quick drop in the Ask strongly suggests that there is a MM who is selling shares for the company and is not really concerned about the price. This isn't the pattern of a flipper. They buy low and sell high in a run. Does anyone know if the TA is gagged? Since they did a 1 for 10 R/S in May, I wouldn't expect another one for awhile, however its important to keep track of the O/S to see just what the company's intentions are and whether they have the shareholders best interests in mind or just their own....

JMHO...Makamai