I think that today and tomorrow there will be a battle between the Bulls and the Bears..(Bums??) I've seen this happen before with stocks, and "little birds" are telling me that some individuals are out with short positions and want to have the chance to cover.
"WE" have two options here. Let them sell off some stock in order to drop the bid, then cover their short positions gradually, "OR" FORCE them to cover and convince them that there is nothing to be gained by shorting this stock. It may p*** them off, but face it, they are trying to take money from you through manipulative shorting, why not hit them back with some manipulative buying.... :0) You certainly won't lose out in the long-term as this stock should be $6-9 by December, if not more.
We're not talking about "monolithic companies" out there targeting the stock. What we have are invidual brokers/dealers who happen to make a market in the stock, but are shorting it in order to suck in every little bit of profit. We aren't talking huge amounts of stock, probably less then 20,000 to 30,000 shares short, who knows. I'm speculating based on past events as the price jumped based on moderate volume as the MMkrs scramble to find stock. GRNO is still a small fry stock, not even covered by the market. Any MMkr's out there are wheeling and dealing with GRNO as a sideshow. Catch them offguard and they panic, just like we do when they drop the bid...
It's YOUR decision, I've got all of my cash locked up at the moment, but I'm considering selling off some other positions as soon as they are sufficiently profitable, and using it for supporting my GRNO position. GRNO is my LARGEST POSITION, (Still not much compared to you with deeper pockets) and it such for very sound reasons.
Those of you who look for a day trading opportunity, can gap up the stock with premarket orders, (not recommended) or begin buying positions over the course of the day and unload at the end when the shorters may start to feel the heat and cover their butts.
Other than that, I think that the next week or two will be the last time we see an opportunity to buy under $3. For those on the fence, time to get read on and "pull the trigger"
Regards,
Ron |
