The TA Study Lounge

[SEBASS]

Need some advise on TERN

Today was first trading day of TERN on pink sheets. Co. got delisted due to not satifing NAZ rules on earnings date. Making long story short company has recorded wrong customer in incorect period of time which created entire accouting mess and they have to restate whole prior year.

What my question is the day before delisting there was 51% of institutional buying and on the day of delisting/first trading day on pink sheets volume went up huge to 8 million where it traded in thousands before. Stock went up 10% on that day. What da heck is going on ? Isn't stock suppose to go down the day before and after delisting. It blows my mind. Isn't Pink sheets like wild wild west of trading and insider do not have to disclose insider buying/trading on PK. Can anyone answer that ?

http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=TERNE&range=0&mgp=20060403...

http://finance.yahoo.com/q?s=TERN.PK

http://stockcharts.com/h-sc/ui?s=TERN&p=D&yr=0&mn=3&dy=0&id=p21277884435