RE: Yesterdays close... .16Don't worry. Level II's are strong and not all houses are open to release orders. Going to be a big volume day and hopefully stronger hands step in and the penny flippers will have to chase the stock up. Stock should be at least .20 but if people are only interested in a .02 gain there will be some selling pressure. Problem IMO is some are just playing for a daily return vs understanding the underlying value.
There are two blocks with 100k shares at .16. The only thing that comes to mind is someone is selling to excercise more favorably priced options @.10
Tax season not done yet so those selling at a profit will have to book the gain. It would be silly to sell at this level IMO with the big results posted yesterday, further assays coming aand if you wait a week you defer the gains to next year.
| Bids | | 579,000 | 8 | 0.160 | | 15,000 | 2 | 0.155 | | 117,000 | 3 | 0.150 | | 66,000 | 5 | 0.145 | | 96,600 | 6 | 0.140 | | | | Asks | | 0.160 | 6 | 266,000 | | 0.165 | 6 | 126,500 | | 0.170 | 12 | 305,500 | | 0.175 | 6 | 69,500 | | 0.180 | 6 | 210,000 | |