Tuesday, January 30, 2007 7:29:48 AM
Over last few days, CHNW pps up from .0002+ to .0005 today. Opened gap up @ .0004 on premmkt PR, and increased interest. Then, MM's wanted major shares @ .0003, so @ +-11:23 am, started reverse of pps increase by passing on higher bids, creating panic among smaller traders. This allowed major selloff to occur, and oppty to buy large block trades .0003. Majority of buy/sells @ .0004-5 where minor @ 230K, 590K, 450K share trades. This was smaller retail traders flipping to other smaller retail buyers; taking 80-100% gain. (Norm w/most small traders lately). Then, MM's took control and walked weak hands and pps back down to .0003.
Most importantly, IMHO, is the buys at the level pps basing back to previous days close @ .0003. IF you ck L2 trades all day, so many buys @ .0003-9M shares, 5.5M shares, 8M shares,14 9,999,999 share buys @ .0003.
To me, shows smart money buying large @ .0003, for a reason.
Regardless of many posts of must be dilution, why would pps not take off if..... again, look @ how many large block trades bought @ .0003. Why? PLus, bid this morning is .0003, ask .0007.
I love this co.'s business model of cash/loan centers; this financial segment is growing huge. And, real #s show compared to std banks, interest rate/cost is comparitive or less than std bank rates. Growth business IMHO.
Best Regards
Not a buy or sell recommendation. My opinion only.
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