You have Subway for selling, but they probably don't have
much stock left. I would imagine that a lot of the volume
last week was Subway selling into the buying they produced
from their client list. That is not a big surprise.
The volume on Friday can be tied directly to the fact that
a majority of the shareholders finally got their SFMI shares
from the change-over of DCUT. It is not too surprising that
250,000 shares came out of the woodwork. They had nice
profits from the early October prices. All the sells were in
the range of 5,000 to 10,000 shares ( $ 1,000 to $ 2,000 ).
Not exactly BIG sells. If these shares were bought in early
October by speculators, they only paid $ 100 to $ 800 for
their shares. So, they made some money and sold.
Obviously, the bigger buyers have not sold. And, as a matter
of thought, who was absorbing these sells ? It would not
surprise me to find out that the early October buyers were
also the buyers on Friday.
As far as thinking that the stock could go lower, I doubt
it. The big buyers of October are highly unlikely to sit by
and watch their positions go into losses at prices below
$ .15. At Friday's close, the stock has a cap of $ 5 Million.
Total crap in this market has far higher market caps. I tend
to think that this will be adjusted upwards over the remaining
months of this year.
As far as hard news, I thought Friday's announcement was
rather startling. They have a mini-mill and lab operating.
THAT is BIG news. Mills cost money.
So far, news has been good. I am sure that we will be
pleasantly pleased with announcements over the next few
months.
My personal opinion is that the company is not issuing shares
that can trade, and that the creditor's stock is still
restricted. Proof....none, but it's my feeling.
