Bellerophon Therapeutics Inc (BLPH)

[PokerStar]

Systematic short covering and accumulation ongoing this morning following yesterday's bear attack. As soon as we encountered resistance at the $3.70 area, the bears attacked and dropped the price from a strong day with solid volume and price appreciation into a flat day. The dump appeared to be about 500,000 shares, all in a matter of a few minutes. It's obvious to me the short covering and accumulation continue based on level 2 activity. As soon as we get a small surge in buying, increasing the price, it's followed with a small sell into the bid, dropping the price back. There's 10k in ask slapping, increasing the price. 10 cents followed by a small sell of 1,000 shares or so, dropping the price right back. It's a matter of time before big buyers step in again and start moving the price higher with strong ask slapping and strong bid support with a tight spread. That will end these games and we can restart our momo and set sail for $4.00, for starters. Don't wait too long to buy if you're still on the sidelines. When she wants to move, this low floater moves fast.




PokerStar