Zion Oil & Gas Inc (ZNOG)

[DragonBear]

Tutes left are under 4% of float

As indicated it will be up to retail to keep buying.

and again even they know now is ridiculous time to sell if held this long

Tutes tend to exit a stock not worrying about how long they held.

This is likely new tutes scalping at a low entry price

Not really. As a general default rule: A Tute will buy a stock only if it's above $5. And will sell if the PPS goes below $2.50. ZN had one special exemption, when it was listed in the Russell 2000. A Tute looking for a low weight Russell index oil stock could choose ZN. So as to have their fund mimic the Russell. Once ZN was kicked out of the Russell, it was back to the default rules. At which point the Tutes started to sneak out the side door, very slowly. The result is what you see today.

The Tutes aren't coming back. It's now up to retail to support the stock. The unusual part for ZN are the PSPPs. Instead of Granny buying in the open market at a given price, she receives her shares at the session average for her monthly PSPPs. Doesn't matter if the PPS is going up/down/around. It's not a supportive buy for retail. It's a passive one. Sort of drains off part of retail support. Doesn't involve Granny's reaction to a Brown PR pump. The monthly buy is independent of the PR pumps. Might call ZN an emotionally crippled stock. Less reaction to Brown's PR pumps.