Replies to post #2858 on Biostax Corp (BTAX)

[jmhgolf]

Because traders sell on news.

[noreen]

I can't figure out why it dropped to .04

As jmh said, people sell on news. And when you have a note holder putting up a wall at the bottom of the Ask constantly, and traders realizing that, if they want to sell , they have to sell to the bid basically (which keeps dropping the price, especially when the spread is so big), or else the note holder will undercut their Ask, as it has been happening since February. It was a very strong technical signal in my opinion when we had a 4m volume day on Thursday (just shy of all time record volume), which immediately is followed buy a low volume slow rebound. That looks strong to me. The 4m day was a plus in itself as it looks to me as if the note holder was dumping off to an insider (complete speculation but it works for me).