FWIW today's action: (never known Bank of NY to be a mktmkr: just a custodian!) BOTH Shorts (which truly have the LARGEST RISK EXPOSURE still) and Longs perspective since August of either bankruptcy or massive dilution are recognizing since the NASD/Cognate resolution of Sept 13th, those considerations are OFF the Table.
Couple that with the delayed but evolving backdrop of positive fundamentals yet to be released, has argued against the GROSS undervaluation by the marketplace of the value of NWBO.
AND Shorts already began to do SOME covering for the LAST 3 WKS with still a LARGE ILLEGAL NAKED SHORT position AND the TSUNAMI is getting closer that IMHO is why the action:
And on the stock sentiment side a careful assessment individually of each key parties perspective: 1. NWBO re CEO Linda Powers 2. Woodford's handcuffing himself and ALL 3. Shorts exposure 4. Hiroshima'ed Longs
What I said this past weekend and BEFORE still applies:
Despite all of the above, Illegal Naked Shorts HAVE ALREADY begun covering up their Illegal activities since the Sept 13 NASD/Cognate resolution, the first Big Volume surge:
Based on keeping a daily running tabulation of ShortVolume.com From Sept 13 to Oct 7: Cumulative Long Volume: 47.6 mln shs Cumulative Short Volume 26.1 mln shs NET LONG VOLUME (SHORT COVER) 21.5 mln shs
So even with the intraday NWBO price rise to above 70 cents during the above period, there has There has NOT been even one day of Net Daily Short Volume!
Do you think that since the major MM was KCG and UBS now that NWBO is on the List they brought in BNY to Take some of heat of the trading. Also BNY has had a lot of scandles themselves money Laundering for the Russians and drug lords.