Pattern trading 20 years in the market has given me some insight as to what happened today.
1. Market was pushed lower to level so financing could be done even if company has said they don't need further financings. The money is just not coming fast enough from LOI's
2. It was a head fake to get some weak hands to sell prior to big news. Price will be higher by 2 cents be market close tomorrow on news
3Day Traders at it again selling to try to buy back cheaper
i am inclined to believe that a head fake caused the downturn an the price will jump tomorrow with news.
LONG