Monday, August 06, 2012 8:55:34 PM
Friday we had 50 million shares traded and around $425,000 spent in changing shares. Today only 27 million shares traded representing only 54% of Friday's trades. Around $275,000 dollars traded today which represents about 65% of the dollar volume of Friday.
I think we got rid of quite a few flippers on Thursday and Friday and the churning they add to the totals skews the trading numbers upward a bit. Just reading the board, it has changed posters the last several days. We have a larger percentage of longs posting today IMO.
I think more shareholders are beginning to grasp the significance of KMAG's/JR's share buyback, the huge growth in revenue and the legitimacy of this company. Why sell for peanuts when its evident this is worth far more. Many are willing to wait for the reveal on July's revs and projections for next quarter.
The nearly three month period where KMAG was grossly undervalued and held in place by unknown entities has to play a part here. Immediately after the share buyback ends, we move upward almost without resistance. Someone(s) wanted and bought a slew of shares on the cheap and now we move unencumbered. Coincidence? No and shareholders recognize it isn't.
Many recognize there are some powerful forces involved with moving the share price here, why not take the ride up with them.
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