where there's only one reason to hold -- to make more money -- there are many, many more possible reasons to sell. and when you consider this spent a year or so trading below .03, plenty of time for quiet accumulation, its not too hard to imagine there are a few of those holders/traders who for whatever reason still see fit to occasionally exit or pare down. personally, i don't know how we would all live without sellers. hey! someone had to give up those shares i either wanted or got. and bless those buyers, too. i know i'll eventually need them.
that said....
given how everything about this stock screams thin -- the chart, the trading, level 2 -- it isn't and wouldn't be that hard to see the price here go up and down in whiplash mode; but, in trading almost exclusively to the upside, its held the high end of the range like a real champ. of course, its been rather obvious that there haven't been a lot of shares to be had at once, and those few that have been available have been disappearing in what i suspect is eager anticipation of the nearing event. so that brings me to a small ponderment.
charting stocks that don't do a lot of volume doesn't make for an easy reading of the tea leaves. anybody notice that other than an early test of the 50ma this stock hasn't really tested a bottom since it broke .06?
the rsi14 has come back to the midpoint at 52, and i think that's a nice retracement place from which to take off from. i get no sense of this being overheated and needing a further pull back. but... ah, the ubiquitous 'but'.... today, the williams, fast stos, chiosc, obv and a/d indicators all showed a seller emerged. though i think these shares will be worth a lot more than what's being asked now -- i know i'm not selling what little i have, certainly not here -- i would not be surprised to see this retest the 50ma that is currently at .052.
are we all certain that good news is coming? the setup is awesome, but..
ah, well! can't make the claim unless you play the game
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