A simple explanation could be as follows. Over the last 4 weeks, NITE and possible CDEL sold stock above $2.00 it didn't own. They have 23 days to actually cover. With all the screaming about news, they know its just a matter of time. So when they see big size bids for 1,000 plus shares, they hit the bid, and make $.30 a share. Its really that simple. This is what they do. They make a market in a stock. Their trading programs are tweaked to do this.
When there is overwhelming buying (they aren't afraid of 3,000 shares) they run for the hills, just like the climb in December. I fact, they jumped .30 cents a clip to get out of the way of the buying. No Form 4's or 144's, so its not the company.
I doubt its other longs, maybe a few day guys reeling from all the negativity a week ago, but thats the ONLY thing I can think of. Hopefully even that will be short lived.
