My take. While the price moved well Monday, the shares weighted on the ask should've shoved the price higher. The reason it didn't go, was likely lotsa folks selling shares picked up during the previous 3 weeks @ 5/8, in addition to shares bought at the 1/4 base area.
There were some very large block on the ask Monday...10, 12.1, 12.9, 10, 10, 29, 29 (note doops may be crosses/MM swaps), 20, 12.4, 12.6, 28.5, 37.5, & 10 thousand...of those that didn't get broken up.
The trading today was probably an more rapid distribution/profit taking of the shares purchased Monday, akin to the resistance encountered by all the buying Monday..
It may take a few days to settle out, but the volume & movement will slowly bring back some mid to long-term holders of the stock, making for a more measured advance...
As the price appreciates, you also have fresh expectations on each buy...my own are pointed at last Spring's levels of $4-5. However, I will certainly keep 10-20K in my pocket for the long term and eventual fair valuation of the stock...Which is where someone like KH or HCM come in...:o) |
