Live Market testingA lot of interesting opinions here along with speculations.
I'm curious how many of you have access to LIVE Level 2 quoting?
After the news release it was very interesting to watch the trading patterns as people started dumping.
But once it hit the .11 cent mark I could actively see where the Market Makers kicked in to control the SP.
I tested the SP 9 times yesterday between the .10 and .115 range with 250,000 share volumes. I was fortunate enough to pick up an additional 187,000 shares at .105 when the bids were being smoked. Every time the SP was controlled back up to .11 cents.
The biggest hit was a 400,000 smoke that sat at .12 for about 10 minutes then converted to a smoke that was absorbed by the .11 cents less 57,000 I grabbed at .105 which was then quickly moved back up to .115 with 289,000 support at .11 cents again.
So for those thinking it'll go back down to .05 cents I'll be VERY surprised if it does after watching yesterday's events. Companies put Market Makers there for a reason. Call it manipulating or company support whatever you decide. But don't be surprised to see a quick rebound as a lot of weak hands were shaken out after the recent NR.
I'm not saying either way what the SP will do, as I've decided to park a nice chunk of my investment here for the next few years. The same as I have done on a few other bio-tech stocks. I'll continue to support this stock and keep picking up more shares as I follow adjusted price targets of the company.
All in all I was happy with the NR yesterday, the first of several steps into introducing the market to a potentially much needed necessity for us as people.
Enjoy trading everyone, the next few months should be very interesting to see how many new investors come aboard.
Cheers all
RD