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Friday, August 01, 2014 11:04:38 AM
It won't hold IMO. Watch for a high vol sell-off in the next few days. 3 month chart says it all. The MM/broker dealer makes far, far more commission when they "unload" those 2 or 3 million shares "dumps" - which are essentially "insiders" or some type of "professional" holder of some sort IMO (someone who got the 10 million plus shares for "services rendered" as shown in the 10-K/10-Q, one of those types, whoever they are), getting out of large holding, they make way more for "routing/setting up" those large block sales, than they ever make handling the $1000 buy orders routed from TD or E-trade or whatever on the in between days.
It appears the magic "target" number is to get it back to about 3 cents each time, then it triggers the large sell position(s) that they're unloading for someone. The 3 month pattern is plain as day on the chart. And there is a LOT of those "in the money" share blocks they've been handing out, lots, like 10's of millions of lots.
It won't ever hold anything above 3 cents or so, not at least in the near term. That's my 2 cents. Way too much cheap share "overhang" out there, plus the "ASHERS" of this world and all the rest they've been doing with dilution and shares pouring out in the sub 1.5 cent range (warrants too, 10's of millions of um).
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