You won't see this stock go down more than 10% in a day. Figure anywhere between 3-9% in a controlled action.
More than 10% down in a day and it triggers a 13 day timetable to cover a short position or it goes to the SEC Fail to Deliver list.
There's a pattern where they take it down in the morning and bring it back up toward the end of the day. It's called Shaking the Trees. If you buy it when it dips and ride it back up you can make a little here.
Overall, if you look this thing over, the shorts and market makers, particularly NITE, are in collusion to take this thing down. They would like to cover cheaper than 7 cents. Probably most of the shorts are the market makers themselves. By shaking the trees they can steal shares from investors who are selling at a loss.
One way out. Company has to come forth with news and financials that bring in fresh blood buyers while longs continue to hold if they can afford to do so. If we are able to trigger a squeeze, and I do stress the word IF, it could be good.
The problem is that usually the market makers will continue to short during a run and squeezes are hard to trigger on a high float stock like this one. A stock buy back to reduce the float would be helpful.
There are less than 70 followers of this stock on I-Hub and who knows how many of them actually own shares. Most of what is said here will never be seen by people buying and selling this stock. They are buying when it goes up and selling when it goes down - human nature.
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