Its hard to explain, because it is a hunch, but the trading here lately is unusual. PPHM is NOT trading like a stock heading into a reverse split. Usually, my experience with stocks heading into a R/S is that the trading dries up, much like PPHM did most of the second half of this year. But volume picked up three weeks ago. I know we traded up on high volume into the CC then turned down. AS NORMAL.
But from there we turned up on good volume. There were some here who also noticed this "chart trend". I mentioned in a post that last Friday it was as if we had a new Market Maker. Buys were raising the SP, sells were lowering it and most of those 100 share trades disappeared. The gaps between sales closed. No more waiting 12,15,20 minutes without a trade. I believe there was a leak.
Then we started seeing these large blocks of shares purchased on the bid. I don't feel these were sells. I believe PPHM was dumping ATM shares into waiting bids, perhaps prearranged? If you will remember the SP did not move much.
Then yesterday, more volume, more large blocks, more into the waiting bid, and again the SP moved down only 1 cent. Same thing happened today. Yes we dropped 2 1/2 cents from yesterdays close, but pulled back to close down less then 1 cent. Even at 1:00 on the last trading day of the year, there were trades going across. 800,1200,2000 share trades.....real trading!
Why I don't think its tax loss selling:
I find it unusually that you would wait til the very last three trading days to dump your shares to qualify for the tax loss credit. Especially if you are an institution. If you owned 400,000 shares, you would probably dump 100,000 in Oct, 100,000 in Nov; 100,000 in Dec. You get the idea. The PPS was basically the same the last 9 months, with some exceptions and you could have hedged against being out when something takes off by selling along the way.
In summary, I feel we had a run up into the CC followed by a selloff on no new news. Then there was a leak and real buying. My hunch is PPHM dumped ATM shares into the waiting hands of someone, I don't know who or why, in a prearranged agreement.
I'm probably crazy, but a hunch is a hunch. Anyone feel free to shoot down my theory. But remember, I'm in @.2985 and closed the year green with this stock. Did you? Just kidding, lol
Happy New Year to All
Cheers
Chenzo
