Topped out... retrenching, or bigger push coming?
So close to another millon shares moving since I got disconnected maybe 40 mins ago. Looks like largish NEW sellers pouring into the .22 and 21.5. The statis ASK at .22 is now built upo as well, so again more new shares looking to take profits, or the manipulators laying down defences.
What I am asking myself is, will the sell pressure push through the nearly 500k at the .21 bid. I think it very unlikely, and even foolish, but I have seen it happen, and my best guess wy ois that the shorters, flippers and accumulators al want to dampen how thisone goes on the record at the close.Roight now the 30% gain after the last two days will attract more bulls. They want to make it look like this was no big deal.
So my references to a bigger push:
In this corner, those who want it back to .14 again plus those who want it to churn and get burned everry time the move goes only one way; and those who are sick of this position draggin down their total portfolio and just want to reduce their position at a better price than they expected for the last 6 months.
And in the other corner, the longs, plus the bulls whio see the smoke signals, plujs the accumulators who know the long term story is up up up and may well have decided two--no make that three--days ago to buy buy buy.
So my wild guess is that we close at .215, or a painted .21, and rally at least 2-3 more cents early, which may taper off to close at .22 again.. or not ;-)
The primary signal will be new volumes beign added at the spread. We just say half the .215 ask get swallows as I type, so momentum still is with the bulls.