There is more than just that at play on Friday, I am not sure how many of you play big board stocks, but there was another thing in play. Much like what happened to this stock on late Friday afternoon a huge buying spree when into effect. Kind of like watching money move from one place to another, in this case people watching big board stock seeing prices that came into buying ranges. You can see a lead and lag here on this stock people pull money from this stock to buy these cheaper priced big board stock. On the flip side the price sells off rapidly and triggers some stop loss, but on some peoples watch list they see an attractive entry point for this stock and as you see much like the big board market buying comes in force here. It was healthy pullback and I will explain.
When you look at the charts once again even the momentary touching into sub penny only went so far, it set a new higher low (.0095) believe it or not. It was so brief, that it signals the high probability of this stock not touching that point again if the business continues to execute as planned. The closing price set a new higher low possibly, that will play out this next week and we will see if the .010X to .011 become the new base to build from. If that is the case this will probably pop back up to .012 or higher this next week. Now the unfortunate part of this pull back, as you know now we have more flippers to contend with, the .01 buying point was so strong as the blocks were large, so they are loaded up for another run. Frustrating as it seems it is all part of process.
Raymond tallied up a list of names on this board as they appear, came up to roughly 1200 or so. But as we know the majority of those names associated with this stock have moved on to other plays or are short term momo players. So yes 700 people is a little high for those who actively read this board and or participate. It is highly watched as we know, so that is why I feel comfortable with 10% or less actual shareholders read this board. But let it be known 10% is a serious piece of controlling authority, we know that this board here controls probably 33% of the float, which says a lot.
That is the difference, so when you see the market eating itself the sentiment transfers everywhere, even down here in penny land. So yes market sentiment is just another added pressure along with negative postings, and of course the PPS not holding to some investors expectations, all just collude together along with a whole chain of other factors and you see a movement like we did on Friday. Like I said yesterday take a chart of BEHL and a chart of the DOW or S&P from Friday and look at the similarities in the charts.
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