Hi Ron ya the overhang sellers from the last operation still out number buyers as awareness about Enumeral and this reverse merger is still limited...Hence the pps has drifted south for over a year from the insiders of the shell pre-ENUM selling in tranches every month... Further to that even those discovering ENUM are likely waiting on the sidelines to see where the bottom will be.
I have not 'bailed' I just keep accumulating/avg down and have GTC bids at several increments down to .10 in case it goes there when I am not looking... though they never seem to show lately on L2 so I HOPE they are there lol ...but knowing mine don't always show here (even at times where it was top bid) I imagine there are other bids not showing too ... on these quiet tickers the MM's seem to get kinda lazy ...I can assure you from just me there are 3 more bids in between the .124 & .165 currently showing and my normal MM I route through isn't even there at the moment ...puzzling ...I'll take it as a clue that perhaps .16 is the bottom so my MM not getting out of bed for my low ball bids lol
ARCA & NITE seem to be the biggest sellers here while it is my belief we see CDEL & CSTI working in tandem to exploit this waiting period and average down what are likely relatively large positions already. Pure speculation but CDEL & CSTI always seem to be the ones to jockey for highest bid
Not sure which will happen first: A) The sellers will run out of shares and the pps will jump to the 30's and beyond in a flash B)Enumeral puts out some substantial news and the pps will jump to the 30's and beyond in a flash
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