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Monday, August 26, 2013 4:08:45 PM
Most investors sold today because of frustration; they did not want to wait for the forthcoming PR from Peter explaining the increase in AS and/or did not trust a PR would be coming at all, so they made a personal decision to liquidate their position and move on to another ticker. I, personally, think this was ill-advised, particularly since the stock traded down last week.
The big-blocks that went off last week were the market-makers (MM) shorting the stock on the belief Peter would not be able to obtain the financing necessary to achieve his business objectives. Some of the trading activity appeared to be MM shenanigans engaged in naked shorting to purposely push the stock lower so they could profit on both ends of the transaction: covering at a low price, then doubling-down and accumulating shares for a profit as the price moves up when the stock triggers the oversold technicals to buy.
However, once a press release provides investors with information I believe will demonstrate Peter has a solid business plan to transform this company from a concept to an actual revenue-generating company, those with a short postion will be forced to cover and investors who remained calm and stayed in the game will benefit from the classic "short squeeze" as buying pressure will dramatically increase.
Just my thoughts... Soon we all will see how this plays out.
Regards,
Ray
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