Nevada Copper Corp (NEVDQ)

[daveblanchard]

Studying yesterday's chart, it definitely looks like the Plunge Protection Team triggered with algorithmic buying starting about 11:33 AM at 0.060, during a sharp plunge.

They ramped the price back up to 0.065, where it was clamped until trading ended, with the occasional dip or peak to give the superficial appearance of normal market movement.

Note the large amount of buying in the dead section while the price stays dead on 0.065 the whole time. People were buying in at the same time the algo was selling, keeping the price dead level--except for a small dip allowed to 0.064 at the end, which plays further into the psychology of it.

It looks as though the stock was beginning another leg of the downslide before it was arrested. If that's true, then a lot of people could be fooled into going long, only for the bottom to drop out from under them on Monday.

Be careful, everyone!