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Tuesday, November 19, 2013 1:55:57 PM
Overhanging stock:
Stock recently converted from 13 cents to 16 cents
Stock from people that paid much higher just looking for an exit
Stock that will be sold for tax losses
Potential converts still on the books (as recently as Oct 31, 2013)
Now are the converters long term investors? Doubtful.
The price action tells a lot. Anytime the stock tries to rally it has been met with selling pressure. It doesn't have to be listed on your Level II. Just watch the stock. It moves up a little and the sellers appear.
The stock is telling us something. .232 bid is not telling a good story.
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