Jim, the demand to purchase shares has been exceedingly low the last few days, in fact, in the last two weeks. Since October 30, OBV has been negative, more selling then buying, MF has been negative since October 24th, Up/Down Volume Accumulation has been negative since October 21st, the Slow Stochastic 5,5 has turned neutral after heading up, although the Fast Stochastic is now bullish. Sorry, Jim,net net, the stock has been under distribution since approximately October 24th and the price reflects it.
Now, we has an effective S1. We have close to 3.1 million newly registered shares that COULD be converted from warrants and sold in the next 45-60 days or so. We have a company finally out of the quiet period ready to release news about what has been happening. You have MM that may feel cheated that they may not be part of the next round of IPO funding that may want to get out fast. Others may want to hold til they see the price of the stock hit their magic target, $6.00 or $7.00, maybe $8.00 or $10.00. Then maybe someone's 25,000 shares in lot of 5000 each will hit the sell side. If you think the last two months have been volitile, I'll bet the next two will be just as wild. |
