People will take profits. But at the same time, larger players who would never consider KRY without a permit will now take an interest.  It will likely be volatile, but remember we will be dealing with different types of buyers who have different aspirations.

For those concerned about today's action, think about what happened on Friday....KRY closed below $2.  What that meant was that come Monday morning some accounts who play on margin, whether they used it in on KRY or not, woke up to a margin call on their account.  Logic dictates to sell the weaker hands not the stronger ones and they most probably had no real understanding of the potential of KRY.  It was logical these folks would see the red and sell since they might otherwise be forced to do it at a lower price when the margin call was forced.  The action today is indicative of that kind of retail selling.  It may last for a few days or it may turn today if the waiting buyers (yes they are there), think this opportunity is too good a chance and start buying.

The volume should be an indicator there is no real conviction behind the selling.