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Wednesday, September 10, 2014 10:17:55 AM
200 X .0249 = $4.98 (not even a Big Mac and a fries)
That's just the same old, high spread, low vol mode. Any selling of "size" when it's in this mode will tank it hard, sometimes 20% or more in a blink. For several weeks now, it's only traded maybe $5K or $7K tops on any "up" day, then double that or more on the down days. Look at the chart on I-hub, every vol spike day is the selling day.
Bullish on what chart? It's been broken down for over a week, alomst 2 weeks of trading now- below the 200 DMA and well below the 50 DMA and only has been trading higher vol when it drops? Any "up" move like now, is on some trade like this one: 200 shares or $5 bucks worth, or $64 bucks worth or whatever.
Who even processes and prints a 200 share trade? The vol is gone and has been heading on 2 weeks now. Even as the bid has continually dropped, there's been no large buyers stepping in. It's been pretty much lower lows and lower highs and it's off from the 3 cent range, to now the low 2 penny- a loss of 20% or more in a few weeks. Nothing bullish about that IMO?
Ok, 45 minutes in now and it just traded another whopping $1000 bucks worth- and the bid (gap up) dropped to get a fill on it. Not bullish? I'd be buckled up for the drop to sub 2 cents IMO.
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