Ian - I don't expect anything substantive from you now
Why are you still flogging Newbridge and BCE here on this thread?
I'm not concerned about near-term trading action as the fundamentals going forward for the eMerge Alliance appear to be powerful and I'll continue to add to my position at these levels. I've been in contact again with Citibank and I'm sleeping well tonight.
The BCE e-commerce initiative is targeted at a different market sector than that represented by VNE's partnership in the eMerge Alliance, and Newbridge has no direct relevance here on this thread. Given this your logic is wanting and your argument falls under the umbrealla of “The fallacy of the false alternative”.
However, to comment on today's action, VNE finished down just $0.06, and came back well off its low. The end-of-day market depth doesn't suggest very much downward pressure to me.
Today's intraday low of $1.11 was not a good reflection of the character of the intraday bottom. It was reached twice during the day. The first time on a volume of a measly 50 shares at 9:34:06 AM (MT) and then again at 11:29:00 AM on a volume of just 100 shares of a total volume today of 328,100 (higher than yesterday's). In short, today's intraday bottom of $1.11 represents trades of just 150 shares!
Now…this is the significant part of today's trading action that is worth noting.
The second time VNE hit its intraday low of $1.11 was at 11:29 AM. Over the next 50 minutes VNE rose to $1.20 at 12:21 PM on a volume of 44,100 shares. Thereafter, VNE continued to increase over the next two hours on a volume of 67,100 shares to finish at $1.25 for the day, down $0.06.
This rebound off the low represents 111,200 shares traded and an increase of $0.14 or 11%. The sell off prior to the low – starting 35 minutes after trading commenced – just mirrored a down day for the tech's across the board.
VNE's rebound in the last three hours is significant as it mirrored that of both the Dow and NASDAQ until 3 PM (EST) afterwhich both the Dow and NASDAQ began major sell offs – whereas VNE continued its rebound.
The last trade of the day was 2,000 shares at 2:13:30 PM (MT). Investors just didn't appear to be all that keen to sell in the last 16 minutes of trading this afternoon, even though the NASDAQ was continuing to sell off big time.
Furthermore, the end-of-day market depth shows just 10,300 shares being offered at less than $1.30.
Given the above your analysis of ”and looking at the charts, it's in free-fall on declining volume. Even the TA gurus will soon predict that this sucker is about to smash through the $1 barrier on the way to new lows” is your opinion, and yours alone.
At these levels – and in the absence of strong financials (which are obviously not there as the partnership was only publicly announced 7 days ago) – the share price will be driven going forward by News and potential growth prospects for the eMerge Alliance.
The potential is obviously there and detailed reports and pieces on the Alliance will begin to appear in the financial press and wires by the end of the month – if not sooner. I think that I can hold onto VNE for at least two more weeks until these pieces are dissemenated to the investing and business communities both in Canada and the United States :)
All I can say about your concluding remarks referring to “erections” is that it's obviously a ‘cry of anguish and despair' and a private matter between you and your wife/partner/companion/"special friend" – we don't want to read about it here thank you very much :(
Hope you're ‘back in action' sometime soon and please post the elation of your recovery here:
Subject 24419
and NOT on this thread.
David. |
