Gary: You're right: MM's can and do make markets among themselves. However, the amount of volume that this stk. has generated belies such happenings. Also, when the MM's play those games, you won't get the kind of price increases that we saw the other day. They might start the ball rolling some, but not to that extent. No, I feel certain that time limits expired on a lot of shareholders that took losses; and, buy backs at these lower prices occurred. Today, however, I'm betting a lot of insiders [including Select, and most probably the auditors] jumped out. If you add up all of the volume throughout Dec., and take about 20-30% of that number as tax loss takers, you can see a lot of volume coming back in around now. That's why, when we were all doing our prognosticating about where the price would be this year, I saw a fair jump in Jan. and Feb.. Now, however, I wonder if everyone will be coming back in.
Again, the place was empty and locked-up. No eviction Notice was posted however. After seeing and going through the set-up though, I would bet that they will get the rent situation straightened out somehow. As I stated earlier, it is/was very impressive.
GeneM
p.s. I'll stop by tomorrow in the morning. Also, no serious day or momentum player would touch this stk., too much volatility on the down side. As I stated earlier, I do a lot of intra-day trading, and I stick mostly with the large caps on day plays; it's a lot safer. |
