RE:today's tradingRamman1 stated that his friend had 480,000 GSI shares at an avge price of .27 and that he sold 80,000 at .41 on a runup leaving him with 400,000. But if it was him yesterday, unloading those 69,500 shares he would have been on the ask, as that .30 buy was on the uptick directly following the 500-share sale at the day’s market bottom of .295.
Today’s trading however was a selling into the bid but with the real heavy buying coming at the bottom (.31); that occurred twice; one tranche for 21,500 shares and the other for 22,500. After that, buyers chased the ask right up to the close.
Pure speculation of course, but Ramman1’s friend could have been the seller once again today and for this reason. The saying, “Well bought is half sold.” I would venture to say that .27 could be considered well bought, and the selling at .30 and above would generate a small profit (well sold), allowing him to exit GSI for whatever purpose. Perhaps he has what he considers a better investment. But the .27 avge seems somehow to be suspiciously connected to the selling.
I make it 72,000 shares sold into the bid today and 32,000 chasing the ask at end of the day. Conceivably he could have been selling at all points today, meaning that a large portion of his position is now gone.
But there seems to be no end of somebodies, -buying in quantity at .30-.31. I like what I see these last 2 days.