Nano Magic Inc. (NMGX)

[callmeacab]

I see a few potential scenarios for the price action we've been seeing over the last two weeks.

1) This could be Market Makers making small sales to lower the share price and lure in other sellers, then swoop in like they (my assumption) did last Thursday and buy a large quantity (i.e. they are trying to get size on the Offer)

2) NMGX (formerly PENC) has moved up significantly in the past few months, so the weakness of the past few days could be today long positions selling to lock in profits (i.e., locking in profits)

3) There are pure traders just trading the volatility in the stock, so given the recent lack of positive news and/or volatility, may just be selling their position to move on to other trading opportunities (i.e. weak hands are leaving).

I'm sure there are other possibilities. Just throwing this out to see what the board thinks.