Sam, this is what the broker who called me said. There isn't someone sitting on the ask, but when a block comes up, It gets jumped on immediately. Right now, with the lower volume it is easy, in his eyes, to see that someone is sitting, waiting for sells. The massive part is been over the past two months, which he went through the historical data to track. His opinion is that this stock has been under accumulation for a minimum of 6 weeks, but rather Blatantly and obvious over the past few weeks, when the lowered volume has really exposed them. Others with more experience and Level 2 access can give a much better explanation then I can. Now like I said two of the guys in his office have been buying FTEL for the past 6 months. My friend put his first Buy order in today after I have been telling him about FTEL for a year+. He avoids OTC BB like the plague, but he saw what was happening and he is going to do some accumulating of his own.<GGG>
This is a FWIW post, since it is one man's opinion, and some one else could read it a different way. I however have heard this opinion thrown about quite heavily in the IRC channels as well as in the LaunchingPad Live Chats. My advice is if you want to try and verify it, you should talk to either a broker or a tape reader you can trust outside of the Internet and ask their opinion, or of the different methods. I would definitely be interested in what they have to say. |
