RE: Bids building.. I noticed that last Friday we had major orders on the bid side @ around 5 to 7 cents at around 1.8mil shares or so. I figured that on Monday we could see some big action but nobody is really doing anything --> buying or selling. Those large bids have never disappeared so sooner or later they are going to either move up the price or else just sit back and wait for the nervous nellies to show up and fill them.
It appears that today we are moving up in price so that means those large orders at the lower price could get nervous and make a move to get filled but with such a large order and the lack of sellers, the price will have to increase to get them fillled unless the nervous investors who want out will show up and keep the lid on the price.
So far we hit 13 cents on 5K which isn't much but hopefully it's sends a signal to those large order that they aren't going to get cheap shares anymore and the prices will have to rise to get them filled. If in fact we can trade @ around 13 cents or higher at the end of the trading day then this will definitely send a signal to those large orders that those cheap shares are a thing of the past.
I really don't think this will happen considering the market sentiment is still negative so those large orders are not going to chase the price and the nervous sellers will keep the price down. I sure would like to be wrong on that.
MM