Jorj: On PAMC, keep an eye on the mm's. There is horrendous open interest in the November calls relative to the float and to historical norms, and they're trying like hell to pull as many strikes as possible out of the money. It trades very low volume at times and is as manipulated a stock as I've ever seen.
One day recently, for instance, off a close of 23.5, the premarket bid/ask was 23.5 x 9/16. Then, about twenty minutes before the open, they got a market on open sell order of about 10,000 shares (which I believe was a margin blowout). When they saw that, the bids disappeared down to 21 (a drop of over 10% for NO REASON other than they wanted to hose a forced seller). I put in a "joke bid" of 21 3/4 and got whacked immediately.
When the market opened, that block magically got handled at about 21 1/4 and within 15-20 minutes, it was back to >23 and closed the day up over 25, I think. I have never in my life seen such blatant manipulation. I'd call it thievery. The block I bought at 21 3/4, I was able to flip >23 in the first hour.
Anyway, they have a vested interest in driving it down as much as they can. So, don't chase it, don't pay the ask unless it's moving up strongly.
It's a stock which I think is going to reward us but not without a few stomach lurches along the way.
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