Re: WoW!
in response to
by
posted on
Feb 11, 2011 12:15PM
Paramagnetic Beads and QL Analyser are Proprietary Products
Fink,
The greater question may be who the big seller is. The complete lack of follow through on that block trade makes any further sustained move to the upside unlikely near term. It sounds much more to me like the MM collected a number of small buy orders and filled a big sell order once the size was available. Remember that every trade involves both a buy side and a sell side. Only the MM's (and someday the SEC) knows which side had the block order.
But perhaps you should ask yourself how convenient the timing of all the recent "news" would be for someone looking to unload a large number of shares at once in a thinly traded stock (look at today's volume). And if it was someone that obtained their shares at 50 cents they doubled their money very quickly. If there is anything devious going on with short or naked short sellers, it could well be someone taking their profits now knowing they can cover their position with "gifted" shares at a later date of their choosing once any restrictions are lifted. Doing so would preclude any further gains while both positions are held but it locks in a very nice profit and could preclude any further erosion of their instant gains if the stock, in fact, returns to the 50 cent area.
But of course, all will be known as soon as the SEC and DOJ get around to completing their investigations of manipulation and illegal activity in this stock as has been promoted by the NSS fantasy crowd. In the meantime, a healthy skepticism is prudent, in my opinion. Good luck with your investment.
Jag-This