I believe we are quite close to a good sized run here as the chart rarely lies. I love using the bolli bands in this circumstance, in combination with other indicators and the fact that they are tight and continue to tighten while the other indicators come in line tells the story here.
And you are so true on the "phanton volume" as the volume today was only 81,000 (i was involved in 3/4 of the volume today alone) and that was really only 6K dollar volume. Any little spark and this easily breaks .10 and then depending on the momo or the backing of the stock it could very easily go on another run like it had last 2 months.
Thing i like best - 0 dilution. I know the shares im getting down here are from impatient shareholders or weak hands. The beauty of the stock market.