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