Today's chart just got...
Blown away in the last few minutes of trading and looks like it could head south from here...
It actually got blown two hours before the close when instead of going up and forming a "W", it ran flat...Now, it shows a sizeable double top that could yield down .17 or so if it goes below 2.55 and the support level around 2.48 is also taken out...
Blame it on the Terrible Volume we have seen today, at only half the ten day average volume...and obviously more sellers than buyers...
Could it be that the litigants are "Practicing" for the 20 day period spoken of a lot in the last few days??? This may be the case, because if you were watching Level 2 closely at the end of the day, there was some weird activity going on...Look at it now...the bid is 2.55--the ask is 2.53--and the next ask below it is 2.62 which is about where it was trading before this manipulation began, and if it had closed there, would have made the chart look like it at least had the possibility of forming a bullish chart pattern...
The more I think about it, the more this scenario seems likely, and I'm sure we will see a lot more of it in the near future...If this is the case, we all need to come up with a plan to make the chart improve in the last few minutes of each trading session...I'd be willing buy a small lot of shares high in the last 5 minutes of trading once in a while, or would that be pointless???
What I'm hoping will happen tomorrow, is most folks know we went the last two Monday's without a PR, and will want to be "all in" Friday before the close just in case they put one out Monday morning before the bell...though this topic is getting a bit old, I must admit...
But that's the story with this story stock, and has been for quite some time now...news, it goes up...and no news, it goes down...shame on the mess...
I look forward to the days when it stops acting like this...
Good Luck To ALL,
