Britt,
I think you're right, but while I don't day trade, if some weren't selling we couldn't have the volume we're having, so I suspect that some of us have a position we hold, and another position that's routinely being bought, and sold from. I have no qualms with people who think a stock will drop, and sell, and if they're right buy back at a lower price, either buying more, or putting some change in their pocket. Of course they could lose if they're wrong.
When we hit $.04 I thought we'd retrench a bit before moving up again, I don't trade on those thoughts, but many may. Problem is, I could have been wrong. Had I sold at $.04 yesterday afternoon, and news dropped, either on new sales or quarterlies issued, we could be at a nickle, or even a dime in no time, the same money would buy back only 40% of the shares I sold. I don't trade that way, but some do, and that's why 23 million shares can trade on a day like today.
If no one is willing to sell at the current price, it either must go up, or the MM's selling and holding down the price. I'd love to get the cooperation of all investors in not selling before they see a dime, I don't think it would take that long, then we'd do the same thing for a quarter, than a dollar. It won't happen, investors will trade as they choose.
Equally important, some of the wealthiest investors put their funds in the hands of computer programmers who trade in hundredths of a cent in big volume, and it all adds up. I cannot say I like it, but it's a fact. If I'm trading a stock that's well over a dollar, my limit buy or sell is in even pennies, yet I find I bought, or sold at a tiny fraction of a cent from my price. That price may not even be a penny to me on the purchase, or sale, but when computers make enough of these transactions, they add up for somebody, just not the individual investor. I frankly liked the proposal I saw that put a tiny tax on each transaction for the Govt. while I don't like paying more, a few pennies, perhaps even a dime, wouldn't hurt if it lowered, or eliminated the computerized churn of the share price.
Gary
