>>There has to be more than what meets the eye.<<
Barry, I am not sure if you have access to market depth, but it sure has been an interesting story over the past few days!
Yesterday afternoon, there were 65,000 Bids between $3.00 and $3.10 with only 10,700 on the Ask between 3.30 - 3.60.
This morning there were 43,000 on the Bid and 13,800 on the Ask.
Now the last time I checked this afternoon, there were 62,200 on the Bid between 3.00 - 3.25 and only 18,600 on the Ask between 3.30 and 3.50.
Now, in my opinion (not an expert opinion mind you), someone definitely doesn't want this to go below $3.00. So, I believe that with this solid support the stock does not have a good very good chance of going lower! That is as long as these Bids stay in place! As a matter of fact, I am betting that the disproportionate Bid and Ask volumes will create a pretty strong upward pressure on the share price. I have spoken to several other investors who feel that this market depth is a positive sign as well.
As a result, I have bought more shares today. I know I haven't said this for awhile, but what the heck "No guts - No Glory".
I want to emphasize that I am not skilled at interpreting these indicators. That said, please do not take my actions as indicative of a recommended course of action. Rather, put this market depth down as just one of the factors to look at when doing your DD.
Whatever you do, I wish you luck! Talk to you soon Barry!
Crazy Canuk |
