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To: SteveF who wrote (15581)12/19/2011 11:20:27 PM
From: PaperProphetRespond to of 53574
 
I was wondering why the stock didn't see it's normal end-of-the-day trade to pop the stock back up higher. My guess is those end-of-day trades is someone putting in matched orders to keep the price higher. Trading has looked odd ever since I first saw JBII.

I used to think the last trade of the day didn't matter much but I'm slowly changing my tune. People are very tuned in to reference prices. If someone puts in a fake trade at $1.47, for example, at the end of each day then at a price a dime or so below there, nobody wants to sell at what they perceive to be a discount and people want to buy at what they perceive to be a discount. In a stock that wanders aimlessly without any ties to any rational fundamental value, I think the price can be pushed up significantly.