Tech.....You're right in theory, however you discount the MM techniques for taking their profits.
MM's make their money on the spread. If there is a little higher investor buying demand (as a couple of weeks ago on the 1.5 million volume day), the MM's are selling shares at those prices. They then have to buy them back at some point, which is how they make their money on the spread.
If the buying stops at a certain price (Your point)....which in this case was .054, the MM's now have to buy back those shares to balance their books and make their profit.
But.......and this is the part that you dont mention.....If they have a difficult time buying these shares back, they drop the price to effect this. If this continues, they continue to drop the price until they get the shares.
The result? The market is wondering what is happening, why is the price going down? And they lose interest in buying. Which is what the MM's wanted at that point so they can get their sellers.
And now the market has lost interest....for the time being.
This is what I have been seeing happening over the last two weeks.
That being said, this is temporary movement and as you indicate, the FASC numbers will be the final arbiter here.
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