ChaseYourDream wrote:
Spread after close:
Bid Size
265000
Bid
0.125
Ask
0.13
Ask Size
51000
Last
0.125
3 million more shares traded in the last hour, hitting .145, and then heaqvy selling at market to bring it lower again. You are asking us why?
1) Most traders are probably into fast flips and whoever loaded up for the last month could have exited with a 50-90% gain today.
2) But most of us here are long, for much higher sustained value months and years from now; the photo of Buffet laughing "as retailers sell into strength" is a lesson we forget over and over again (me too, Xiawen ;-)
3) And every Venture company with a potential upside gets attacked by market manipulators to reverse psych most retail investors into selling into fear; So there are many millions of shares held by professional investors ready to be sold deliberately to dampen a rally like this; tnhey make a little profit today, and get to buy again at lower prices for days or weeks to come... if the rally does not reignite.
4) Selling into fear is one danger; but those who have been underwater forever (like every long here) will also be greatly tempted to take a little profit to even up the score. A sure thing at a lesser gain instead of risking the SP declining again.
5) Tomorrow will be quite a test. Usually the day after a significant rally the counterattack is fierce; but the company is so undervalued the upside could still be a double very quickly, and most of the members here get it... they are holding for much more.
6) The action will attack more traders--on both sides--so I expect it to be very volatile tomorrow and cannot predict where it will end up.
7) As a long who would like to see the shorters blown out of the water and Convalo apporoaching a decent valuation I take heart in the fact that a large number of static asks were filled today and the field up to .145 is now wide open, except for new bidders deliberatly trying to slow the advance.
8) If the 51k ask at .13 stays unchanged, it will sell in microseconds tomorrow, but I expect the volume to suddenly get much larger just before the open. A standard ploy; but it has failed to thold back the tide each of the last 6 days...
9) I expect most of the selling tomorrow will be from those trying to dampen the rally, not those selling out for good. Anyone who has looked at the financials should be demanding a much higher ask, and if most do, the rally wil surge again, probably faster and farther.