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Re: freto post# 5633

Wednesday, 10/03/2007 11:26:05 AM

Wednesday, October 03, 2007 11:26:05 AM

Post# of 143399
If you review L2s' of the first 12 trades this morning before the market opened, 5k & 10k trades, in perfect step down form.
Only 40k got it from .105 to .05. That clearly is not herd dumping!

This was simple pre-market manipulation to get people to panic dump, my opinion is that I don't think they anticipated the buying pressure and now are likely carry more trades on their books.
They played their hand to fast with an all-in bet, those that bought in the last couple days above .10 were probably not very excited about selling at a 50% loss, and those who bought in the teens were even less likely to sell and realize a 60 - 75% loss.
In short they played their hand badly...

They held the 5s' and 6's as long as they could...but buying took lead.