RE: BID This is because people would like the price to drop as low as possible. If there are apparent bids on the table, fear won't pursuade people into dropping some of their shares. Mainly the people who bought around the 10 cent and lower level. The reason we're not seeing huge dumping is because no one that bought in the last two days at the avarage .155 cent level is willing to let go of their shares with a news release pending any minute. Could be right now, could be weeks, but they aren't willing be out of the play when the news hits.
I personally will over extend myself another 50k shares or so if the price does tank back down to ten cents, but that support level is pre $70M bid news release. I don't see it going there, but I'm also not about to put a bid in, because that would disclose my intent to buy. I guarentee there are many huge, commercial investors also with my intent, who are also staying off the bid, to let it drop if it's going to drop. You see that small 7k that went at .135, just someone trying to strike fear in holders, and make it drop. My position is at .14. I'm happy with that, because i see that as current support, but I'm not against it dropping because it just means I'll buy more. So in short the reason those bids don't look strong, is so you will go "OMG there's no bids it's gonna tank" and sell.
Cheers to what should be a triple here.
:)