These are LOW VOLUME price ticks. Volume today is what, around 12 million shares? 10 day average at 32 million? While the 0002 bids have suddenly disappeared, (that had been running at about half a billion) and there are suddenly 600 million on the 0002 ask and 1.8 billion on the 0001 bid.
If I was a whale here, and I wanted to make some money on this (or even cut my losses), first I'd want to accumulate a ton of 0001 shares. So I'd want the price to drop. How? Simple, I'd pull all my 0002 bids, then sell a few that I already hold, at 0001. People will see the price drop, and drop their ask from 0003 to 0002. Others will withdraw their 0002 bids for 0001 bids. (half a billion 0002 bids had to have been withdrawn, because they weren't filled within the 12 million of volume today or the 320 million over 10 days).
Funny thing is, 1.8 billion bid at 0001 actually represents almost twice the dollars bid, than 0.5 billion at 0002. Buying interest (measured as total dollars on the bid line) has doubled! Read that again! And, there aren't millions of people who know about SANP/Asama, this is a relatively small pool of speculators. Who has 180,000 to put on the bid line? One or two whales, mostly. Maybe Frankie himself. Maybe a few dozen small fry looking for a bargain at $1000 or less apiece. The 0002 asks are mostly small fry speculators who are looking to just get out, regardless of loss. Once the whales get about a billion or so of 0001s, they'll sit back, maybe buy a few 0002 or 0003 shares to paint up the price and start the run, and they'll wait for 0008 or more to sell on the rising side of the spike.
They're playing the Buffet Theorem: "the stock market is a device that takes money from the impatient and gives it to the patient". As penny speculators, we're all notoriously impatient. The lack of upward price movement since January, has been the whales sitting back, letting our impatience grow.
I lost my whole investment the day I spent the money to buy my shares.. and I'm able to absorb the loss. I KNOW the whales will engineer a run as soon as they are ready - the $180,000 on the bid line tells me that a run is coming. The $250 I could get today from selling out, isn't equal to the value of being in when the whales start the run. If this goes totally dark, no bid.. I'll only be out $250 from where I stand today.
We're really at the point where it's not worth giving up.
