MODERN HISTORYAt these levels and volumes we see that not many are willing to sell. They know through their own assessments that they can get much more value for their investment by waiting it out. Those who are already down, figure they might as well ride it out till the upswing to get a return vs. taking a loss right now. If they didn't think an upswing was eventually coming, they would already be gone.
Even small buyers see the penny or 2 slide over the short run and know the big news is still a little ways away, so they are holding off on buying until they see the most opportune moment. All this leads to a semi-standstill. Unless new money comes in, or the news boosts it, it will sway around current levels and patterns.
Its probably a little oversold at this point. The manipulators are still going to maintain this pattern to try and get a few more cents out of it. They may even sell it down to try and evoke panic. Watch the volumes though. Dips on low volume is manipulation. Dips in the millions might be a different story. I don't think they are willingly to risk that much stock to drive this down, so I think they will continue doing what they are doing. Too many smart buyer/holders on this one.
It will be exciting to look back months from now when it is all done and see how it was played out. A great story to learn from and hopefully see a lot of wise investors make a great deal of money.