Ilan,
It is probably the old supply and demand rule. There are simply more sellers than buyers today. I don't know of any fundamental reason for the pullback. We might be seeing a negative reaction to the fact that no news was released Monday, and so far no news today.
This is purely my own speculation, but I have seen market makers "play games" with a stock price prior to news. They will try to make it appear weak to shake out any sellers. I call this a "head fake". If JB is correct, and news is pending, it might be that the market makers have pulled ANCR back a little bit so that their customers can get in cheaper. I have also seen market makers use wholesalers to buy stock at the bid, when it looks like they are sellers at the ask. For example, Kinnard might show that they are a seller on the Level II screen, and one of the wholesalers will be at the bid. If you sell to that bidder, lo and behold, Kinnard actually gets the stock. This is not fiction, I have had this happen to me. My online ordering system tells me who actually bought my shares.
I'm not one to blame everything on the market makers, though. Most of the time it is more of a supply and demand situation.
As I have said repeatedly, in my opinion ANCR will not move up based on hype. Any further price increase will be due to signed contracts and/or solid product announcements. That's what I'm waiting for. I believe that a lot of ANCR shares have moved into strong hands. If Ancor can deliver the numbers, those strong hands won't be very willing to sell.
Craig |
