I have been quietly buying shares here for sometime. I am going to give folks my two cents for all it is worth. The move from 0.009 to 0.006's was correction maybe consolidation. What occured from 0.006's to the mid 0.003's is characterized as panic. There are a number of pointa to think about here:
(1) Do the big players and financiers still have a vested interest in this stock? It seems to me that the dramatic drop here may have caught them by surprise here so they may treat the new price as a gift and start accumulating more shares.
(2) Where does the reputation of the stock stand now? The conversations on Friday indicated that many folks who sold in the 8's were looking for a re-entry point. Today's drop to the 6's presented that opportunity. The drop to the 3's may be considered a gift. Question is if people believe there is still juice left in this engine. Tomorrow will tell us that.
(3) the shock here may have left a bad taste in many mouths, however, it has also given MM's a chance to cover. Hence, they may leave this along now and we could possibly see a bounce. I am uncertain of the time frame.
(4) Are the longs here still long on the this ticker. Again, we don't know that. From what one sees, there are many people who have been on this boat since the 000's so perhaps there is some more juice left here. Poeple generally tend to hold when they are green. They tend to panic more when they are red.
(5) The technicals certainly do not look great based on what Mikey mentioned. However, logic has not been the over-riding factor with this stock when it was running. Hence, I hope that we will see some gravity defying turn around.
(6) Time to get the hard liquor out ahead of the journey in front of us. There is need for some hard liquid courage in response to how fear stricken most folks here are today.
Good luck to all of us. May this just be a blip.
AI
