Yes, I apologize to all for my ignorance. I'm a little embarassed to be honest.
I will give my thoughts on the price action wev'e seen in the last 2 weeks purely from a market psychology/sentiment and layman technical perspective and ignoring any dilution or short selling.
It would seem the stock was ahead of itself when it was 17 cents per share and so it would seem perfectly normal for it to come back down to the .085 support. However in a case of horrible timing last tuesday as we all know the general market got turned upside down and the speculative plays all got hamered, and it has been extremely volitile ever since.
This stock did ok considering, but the typical small investor is seriously prone to selling anything that is trending down (as ACMG had already been doing before tuesday) during periods of high volatility, because of fear of losses (not to mention MARGIN CALLS) in the stock they are holding and greed that another stock they really wanted is now cheaper but looks like it might be going back up (this is the shameful voice of experience).
Then the first major shot accross the bow of ACMG's integrity with the BHL thing made any potential buyer put there wallet back in their pocket and the stock blew down below the .07 support without much of a fight.
Now we are stuck with a chart the Technical traders are going to eat up because regardless of the extremely short term gap filling support that occured today at .055 we are in a classic dead cat bounce off the 200 day MA, and I'm fearful the people that like to take money out of the markets (day traders) are going to drive this thing down below the 200day moving average of 5 cents.
I hope I'm wrong and I will be if BHL issues a statement or ACMG release something else of tangible verifiable proof about their stated operations and development and/or the "merger."
I'm out of posts for the day. Thanks again to everyone on this board for keeping things classy.
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