Re: House 7-New Year Lows
posted on
Nov 03, 2008 05:16AM
Producing Mines and "state-of-the-art" Mill
Given the news on Friday, I don't think this will be about institutional investing.
I was just looking at the market depth and seeing the orders jostling about. The 1,000,000 shares on the bid at .005 is interesting. the 717,000 on the bid at .02 in 3 orders is too.
Think about this for a mere 14 grand a guy could hold 700K of LBE
Now is the time you will see the short term traders play around, This kind of price etc is not institutions buying imho. The may be on the sell if there are any still here, but I think now you will see the gamblers trying to flip around and make 10-40% in a daytrade.
Now the last thing is whether LBE has future? If it does there will be those buyers hovering at these prices as well.
The closest support hovers/centers around the nickel mark. .05