You have to understand there are 2.4b shares here. It has traded below this price 99% of the time for the last 4 years. The last fourteen days had at max 200m volume, or roughly 8% of the float. When it starts tracing back, you have plenty who can take profit. We also have a bunch buying, nice consolidation. It does get frustrating though, but is good for a long sustaining run. Higher highs and lower lows are what we've been enjoying. Also, what I've been preaching for years about boxing.
AUTO used to box the stock like crazy. Since they are no longer issuing shares it was the perfect storm, as the price gets higher it becomes less profitable. For instance, lets say you bought 10m shares when it was at .0019 avg and then started pounding the ask for 15m shares. Everyone gets excited as the price starts running and buys in. You sit back until the price starts to retreat and the L2 thins out on the bid side. Then you pound the bid 15m shares driving it down. Each time leaving a huge sell on the ask side. As everyone else scrambles to take profit, you set a huge order much lower while trying to sell the price back down. Uncertainty leads to filling your bids, then you lift your sells above and pound the ask again. Wash, rinse, repeat. Volume kills the box and they would have to retreat. We need sustained volume.
