(1) BNGO gaps up a 1/4 point on the open tomorrow (2) the Market Makers continue to push BNGO's price higher on low to moderate volume. (3) many of you that are waiting on the sidelines will jump in - believing that BNGO is about to take off. (4) Once BNGO reaches 6 1/2, or so, the selling will commence. I contend that much of BNGO float is now in the hands of short term speculators who bought in at 5 1/2 or less, and are looking to make a quick profitable exit.
Mr. Rogers looked out upon all the smiling faces and said, "Now, boys and girls, can you say conspiracy theory." Sorry, I don't mean to be sarcastic. But I think it's just a little too easy to explain every jot and tittle as an "MM conspiracy". Sure, I think they know how to manipulate things to their own benefit. But I have noticed that this is the #1 reason given for unexpected price movements on virtually every thread I read, and I just don't buy it.
I do think that BNGO was probably strongly influenced by MM's over this last month. But the circumstances were highly weighted in their favor. They knew that they had alot of people by the balls; heavily levered in an investment that literally had a time fuse on it. And as the fuse got shorter, their ability to dictate the terms increased. But we're under different rules now, and they have to deal with the fact that earning's will be on the rise, that the price is currently a bargain no matter how you evaluate the situation, that BNGO holds a strong position in a niche that should be relatively insulated from an Asian assault, etc, etc.
Regarding the future of gaming in SC, that was my biggest fear until I saw the numbers regarding how much money video gaming dumps into the SC coffers each year. I, for one, am convinced that there is no way in hell that that plum is going away. Just my opinions.
PA |
