Today's trading surprised me.
Although I felt the recent run up was due to institutional buying, I though it was only one, maybe two, buying and that it would fizzle out after the 10k and this would cause a sideways movement which would slowly inch up until the next 10Q.
MD's statement that 40 to 50% of the shares were owned by institutions shocked me. What we saw today was more methodical, determined buying giving me the impression that what I had previously called "programmed buying "and had attributed to one or two institutions is far more complicated.
Normally I would expect a slow down as the pps touches 30 cents, since round number like this are often a psychological barrier to retail buyers, so it will be interesting to see what happens in the next few days.
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