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Message: FINRA

Re: FINRA

in response to by
posted on Oct 07, 2009 03:19PM

I'm not a TA guy, but I like the way the trading has gone the past week or so. Lots of buying at the ask, not much selling on the bid. And almost none of the undercutting of the ask we saw incessantly since this thing originally headed down to .02. Have the shorters given up? I don't know, but the sellers have exhibited more patience, sitting on their bid and waiting for the buyers to come to them instead of lowering the ask chasing the buyers. And when all available at one price is sold, the price moves methodically up to the next level. Nice. At some point, there will be less available at each price point and this will start gapping up. Not necessarily gaps that need to be filled, but moves of .002, .005, or eventually .01 once the price is high enough.

Sweet.

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