skip, those of us who have been hear for a while, know exactly what is going on here. Chassman is unloading as she did at $0.03 the last time and took us to a penny. We also know why. We also knew it was coming and that it would impact the pps. I just thought/hoped it would hold up better than this. I belive that the MM's know she is dumping, and are shorting the hell out of this right now. They know they can cover at lower levels, and basicaly share the profit with her. Add to that HUGE profit taking and panic selling, and you get what we have here now. A lot of PAIN.
I am not sure if she is done, and what resistance levels she will not cross. Problem is, she may not sell under $0.03, but if she creates a ceiling there, then we will go below that level. I don't know how many she has left. This could last a few more days.
I sold 1M shares today in the morning (less than 5% of what I hold) - basicaly what I added the past 3 days. The reason I sold, was so that I could buy back if we began to move back up at the EOD, and support the PPS direction into the close. I am not sure if it was a good or bad idea.
Anyway, I think downside risk here is very limited, maybe max of 25%. We are in a similar position as to when we were at $0.01, where the upside potential far exceeded the downside risk. I think now is a great time for people to get back in cheap.
Just some thoughts
BigD
AI
