Trading yesterday:Volume over 170,000 shares.Looks like almost even-buys to sells for the day.Today so far-at least 3/1 buys to sells with some nice blocks(16,500)being paid for at the ask this AM.Incidentally,we are in the midst of a ten-day pattern of increased volume,which indicates to me serious accumulation occuring at this time.Take a look at the last ten days of volume compared to the ten days before that.Quite a difference,and actually growing almost daily in this time span.The last time we saw sustained volume growth over an extened period(ten days or more)we saw the beginnings of the last runup to the mid-.80's.That may be developing again.Time will tell I guess.It usually does.By the way,over on the RB BETT board nobody's really paying attention to the bashers(or,more importantly,communicating to them).Oh well,all young companies attract this type manipulation to a degree.In my experience,quite often it occurs shortly before a runup in share price.Certain people have interests in keeping the price of shares in a certain range,and will go to lengths to succeed in that endeavor.Especially if they begin to realize the company is progressing and that the stock is beginning to become overaccumulated to the point that it may have to move to higher ranges based on supply and demand of shares(trading float)available.I mean it's no secret that BETT's float is only slightly over 5Mil.Relatively speaking,that is not large for a publicly traded stock.Take SNMM for example,their trading float alone is almost 15Mil.That's about 3 times the shares available to be traded daily as BETT.At some point,supply and demand will become an issue-especially for the MM"s.If the number of long term holders continue to increase each week or month,sooner or later-POP!The MM's can only short their own holdings so long,because it becomes riskier and riskier to do so.As Scooby-do has pointed out correctly from time to time,if the fundamentals are in place-all you need then is patience.Does BETT have all the fundamentals in place at this point?In my estimation-almost.They still need a couple of things to really put the bow on the package-more positive cash position being one of them.I believe Tom is working hard at that because he knows how much easier things will be with that position.Still long-
Happy Returns-
stevek. |
