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Wednesday, January 31, 2018 7:07:01 AM
Until we have a compelling reason to buy, the bid is going to win out over the ask.
On days when a large block gets placed for sale at 10% above the open, the stock runs up and down freely.
Someone with a very large position is setting the bands.
Why? Dunno know. For whatever purposes that suit them (is my best guess)(that’s a sense of humour by the way).
Monday morning was a good test of seller resistance. There wasn’t much selling outside of those who were dumping. We have a firm base.
I guess we all get to wait now, to be presented with a compelling reason to buy. Then we test the upper limits of this stock.
Until such events transpire, we will continue to be played with by traders. Like the traders who bought and sold 10,000,000 shares last week and then dumped this week. That was a mini pump and dump that happened within 6 business days.
We have another 27 business days before financials get uttered.
Another 3 business days til ROFR expiry.
Anything can happen. Whatever way it goes, enjoy the ride.
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