Manipulation?
Hi 2da,
When you realize that between yesterday and today that about a million shares have been sold at 3.50, you have to wonder if these shares are being sold short, and if they are , are they being borrowed and recorded properly(vs naked short selling).
Personally, I don't care how many shares are sold short appropriately because that just loads the gun, and I think it is reasonable that we see very strong resistance here(particularly in such a volatile, bearish market), but it does make you wonder.
If it is naked shorting, I would think there's a limit even to that because despite the ineptitude of the sec, perpetrators wouldn't want to risk being too blatant.
I also agree with biotech hedge that at least some of this is holders just doing the expected and trading the range(and selling at 3.50) that has held many times before. Although this phenomenon (vs a blatant sell down) is certainly a lot more bullish.
I guess we'll have to wait and see.
Best regards,
bw
