Here is precisely what just transpired, IMHO.
The folks wanting shares took it down firmly just as the news was hitting. Very precisely done. They managed to get it to .33. Put it up on a 3 min chart and you will see it having attempted to punch thru 4 times in about 30 minutes.
Now, its climbing back.
So, as far as I'm concerned, they failed to devestate the chart. Certainly tried, but they did not succeed. To be sure, the players behind this precision timed move did succeed in getting some cheap shares, but they failed to destroy the chart and it is right this minute climbing back to former levels.
If you take the point of view that it serves us well for an "event" like this to have been staged, effectively forcing froth into the chart and wringing it out so that the folks likely to sell have paniced and traded out, then you will have to see that what just happened sets the stage for a renewed up leg by having forced the "weaklings" out into the open.
I like it having happened and, if I'd had spare change that was not already at play, I'd have loaded up big time.
Imperial Whazoo
"Just my opinions, folks. Do your own due diligence & make your own decisions. DO NOT... I repeat... DO NOT make any investment decisions on my comments. They are my opinions. That's all they are... OPINIONS."
