Innovation Pharmaceuticals Inc (IPIX)

[TOB]

I'd say the market makers were listening to that tune.

They were quite happy to keep selling to buyers all afternoon from 2.90 - 2.95, but they kept their bid at 2.82 for the longest time, at which price they got zero sellers.

Basically they will keep selling as long as there are buyers, but aren't willing to buy themselves above 2.82.

Thus the game of chicken I referred to earlier. Rightly or wrongly they were expecting a decline to kick in at some point.

One side will give (of those actively buying and selling) and we'll see some resolution, as always.

its a little bit dangerous at this cliff edge....watch out for the road runner....thats all folks.... 123tom

Which doesn't mean they will be proven correct as the market makers also don't know how the buyers and sellers will act in the future. They change their tune as they see the order flow, well ahead of us of course.

It will be interesting so see this level play out... A cliff hanger, lol.

(And before anybody gets excited, no, I'm not predicting anything in the future, just commenting on today's past action. Blue skies defy accuracy, so I don't even have an 'on balance' opinion as to the short term price action.)