That is great when the stock is moving up. But when you have a few that don't get it and are selling so they can go chase momo and other junk, they'll just hit you at the higher bid.
We just had another such sell at the old bid of .0601 get hit with 8,800. I'm willing to bet that the balance of his order is sitting at the ask now of .0601. Personally, I won't tightened the spread yet. Wait for an uptrend. Right now I would just sit and wait to be filled. The types of capitulation bottoms typically take a very high volume day and a huge spike down to set in, but this simply looks like a number of sellers that have been gradually unloading over the last few weeks. Let their shares come to you. I know a few don't like reading this, but until these individuals are gone, which might take another week or two, why offer them a higher bid just to get them out at a higher price?
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