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Friday, January 02, 2015 4:34:55 PM
It couldn't hold any real gains- they sunk it into the close on some very, very small, low dollar trades. So typical of this one.
Looks like the dumping was finished yr end and now they took it back to ultra wide spread and very low vol mode. They got some buyers today on a 10% plus spread, then sunk it into the close on um. Ouch.
Typical pattern on this one IMO. Seen it so many times in this 8 month plus, sustained down trend. The "ratchet" effect.
Some days like this now to "walk it up" a bit, then the big boys will sink it again more than likely.
Remember, the vast, vast majority of the major dilution shares to Magna haven't even hit the market yet. The end of the yr was likely mostly just Asher and Daniel James and Fourth Man. I don't think Magna has really even gotten cranked up into high gear yet with the enormous amount of dilution shares they will be holding.
Still looking very, very weak here IMO. No sign of any trend reversal whatsoever. Just sustained downtrend.
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