How I see the trading of the last several weeks.
first, the trading range was narrow - but limited to a near certain daily decline of a penny or two. This had the effect that the effect that the volume shrunk even further, as retail buyers stopped buying. Why buy today, when it is a sure loss and I can buy it later cheaper. So I imagine (not sure if this is legal) that NWBO or some other large interested party hired some MMs to backstop the share price in daily trading - so witness the current trading pattern. Some initial price rise that gets capped by mid day, and even gets into negative territory, but then the MMs go into action and pop the SP up to near the open, so that the investors where no longer being presented with a sure loss short term. BUT, it was still dead money still presenting no urge to buy for many. Now as we get closer to an inevitable ASM PR, the final move at the close has changed to a small but regular rise in SP at the end of the day. Unfortunately, most investors still remember the days when the londs and shorts battled and over several days there was a multi penny rise in share price that at the end of the week or after several days was totally lost in a half hour or less by a bear attack that took back all of the last weeks gains. Investors are tired of this kind of action and wary of putting in their dollars too early - even if they are a committed long for the long term play..
The only thing to change these similar patterns will be be real hard news - not innuendo, bread crumbs or telephone calls with DI. We all hope this materializes sooner rather than later. I surely hope that the prediction of some for Sept-Oct happen.
Can anyone comment on the ability by and insider. to hire a MM to daily backstop the share price. Does this violate and regs and make the SEC unhappy?
