Technical terms like "support" and all technical analysis make far more sense when there is significant volume. This seems to be a case of someone who needed out of a whopping 900 shares! LOL I don't consider it significant. The fact that the bid crept back up to 1.08 suggests that whoever is on the bid for getting shares doesn't expect to get 1.05 again.
But generally right now, in my metaphor of PIOE very very slowly leaving the train station toward eventual profitability on RCP growing its AUM and mgmt fees, i think there are all sorts of folks who aren't quite sure how to value PIOE for the short term. That's obvious from the more significant selling on a couple of days since the shareholder letter/report was release ten days ago.
I just keep my eyes on the future, "painful" as it is to see paper profits (profits on paper) eroded because of some recent dumping of shares by those who see this as "dead money" or are simply impatient for PIOE to reach profitability over next few quarters.
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