I'm pretty convinced there is substantial shorting taking place. When one dumps shares (504 or shares bought cheap), people sell near the ask, right? They want to sell as high as possible.
I've been out for most of the last week, but now see charts where there is a trade at .028, the next is at .02. It bumps back up, and violently back down. This means someone WANTS it to drop, there is not just selling pressure, but pressure to drive the price down to the ask as aggressively as possible.
That usually means - someone has heavily shorted, and wants to cover, so they sell a few more shares to tank the price. When it hits their target, they'll start buying like crazy, and then perhaps buy extra shares and watch it run.
It sure is criminal, because it's all based on 100% counterfeit shares and they should be locked up. But anyway that's the pattern I see and outcome I predict - it will go back up sometime soon, after the shorts have covered at a price they're happy with. Sure is nasty that they get to choose the game and timing though, with an unlimited amount of illegal counterfeit shares that the SEC turns a blind eye too.
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