Weird trading this morning. I was watching the Bid drop to .25, then come back up to .31 several times. Any thoughts on what this means?
My suspision is short sellers buying to cover. Pulling off their bids to see if the ask will drop as well, but when it doesn't, they go back in. It makes me nervous that the bid is not a solid bottom, but the good news is that the ask is holding solid. No one will sell lower, which is a good thing!
I see this back over .50 by the end of the week. I still see this as oversold/overshorted. I think that .45 - .50 is the current balance, without further news. If news is good (ie. funding is completed, done, and in the bank) then we will see further gains.
Go BGMO and GLTA.
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