| Non-Tech : pamc | | PAMC 45.74 | -0.1% | Nov 3 4:00 PM EST |
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Well, the chart sucks. No one can argue with that. Looks like we're going to at least retest that $12 3/4 pretty darned soon. However, there's also the bright side of the picture.
1. More than 1/2 the volume today traded over $14 1/2. Including $14 1/2, 72% of the volume was there or above.
2. It really looked like someone capitulated today. Those sales at $14 1/4 were big. However, it traded 15,000 shares in the last 30 minutes and it didn't knock the stock down at all. In other words, there were buyers there.
3. In the last 7 days, it's traded 567,500 shares. 71% of those shares traded $15 or above.
I hate how they did this on a huge market day, but pamc has never traded with the market. Maybe this was margin selling or maybe there's a seller out there that's "just not done". Or maybe the shorts have rediscovered it.
All I know is it is the most manipulated stock I have ever seen. There were about 5 bids all day bigger than 100 shares, yet 106,000 shares traded. And most were at the bid. Go figure.
Anyway, here's to brighter days.
P.S. I'm putting in my bid in the pre market at $13. If they're going to run stops, I'm not going to pay up for it, that's for sure.
Anyone care to join me? |
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