I'm going to stick my neck out and say that we are within 31 cents of the bottom.
Seriously, the activity of the past few days/weeks would give the impression that someone with a large position appears to be selling.
I only know four large holders, in no particular order: HK Elrod, David Smith Isaacs, M3 Research, and LPS.
Now, I highly doubt it's HK.
I called David Smith Isaacs and asked him if he was selling. There was a silence at the other end of the phone...but he had walked away just before I asked the question. I repeated the question and he said that he wasn't selling.(didn't mean to scare anyone)
I don't know the folks at LPS, but I doubt it's them 'cause they bought in at .625, giving up their operation in the process.
M3 people? Most of their shares were restricted. The unrestricted portion? Possibly, but again why now, at these levels especially.
Could it be naked shorting? Sure, but probably not that much.
Ironically, it's probably regular individual investors who THINK one of the above is selling. And like a snowball, it just keeps getting bigger, thereby reinforcing the thought that it's a big holder...you know, the old self fulfilling prophecy.
Probably coming real close to a drop dead fantastic buy opportunity(sick of hearing this yet?) Somebody buying at these levels will make money someday.
JMHO,
TG |
