Re: Where is the Lake#### guy/gal
in response to
by
posted on
Sep 11, 2007 04:03PM
I wish I could give you that info for today... broken down as I usually do. I know that DABOSS usually can post time and sells as well, and have noted he has been able to indicate which trades were at the bid. Perhaps he has the day's data archived.
FWIW, I was monitoring the trades through the day.... just wasn't able to log them in a recordable format all today... but most of what I did see while I did have the screen up were at the bid.
My opinion... today we saw the Market Makers (and others) buying back the shares they sold yesterday which they did not have... in otherwords, they were filling some orders yesterday by selling shares they did not have at the time. It is interesting to note we lost .03 on less than 25% of the volume traded yesterday however. By walking the price down on low volume two things are accomplished by those looking at closing prices only... loss of investment (especially if you bought yesterday at .22) and it gives the impression to those who held since .15 that they can get out now..... while the price is good but still dropping... rather than holding until the company really gets its IP portfolio monetized, as well as its IFE products in the marketplace. It also discourages those who bought at .22 from holding... no one like to see their investment drop over 10% in one day... especially those who bought on news looking for a quick buck.
However, most of the stockholders here (in this forum, anyway) already know what lies for the future... which is one reason this stock keeps outperforming the NAZ, S&P as well as the Dow over the 3/6/12/24 month periods (longer term periods). There are still more shares being held than sold... other than spikes which occur such as earlier in the year... the long term trend over the past two years has been a significant return... since there are fewer sellers overall. (And I, for one, say NO SALE at these levels... I have my price... and I know I'll get it someday...)
Here's where I think pps goes with trading activity at this point... market makers have this stock shorted quite a bit (as DABOSS said, the industry was new, no one really knew who was going to last; what the definition of results was at the time; or EDIG has a law firm that now feels there is a strong patent infringment case against at least 1 of 174 companies) ...I don't have the numbers on shares shorted at this point, so this is a Non-SWAG. They are exiting their short positions slowly... but as quick as they can by holding down the price... look at last weeks .195 close 13 seconds "after hours" when the actual posted close was lower... and that .195 was a block of 40,000 shares. Slowly they are exiting... when they do... and as the company is releasing news (and DM filing suits in measured time) they are using this opportunity of "slow news" to get out of the short positions... since slowly they realize that EDIG is here to stay and has the patents.... and when 174 companies start settling... the income will be reflected inthe pps.
Next level of shorted resistance will be in the $5.00 range... this is where retail (day-traders) lose their shirts by shorting stocks that reach the $5.00 level... typically they are able to short stocks when they reach this level.... by then the "smart money" has exited the short position and has transferred their short shares to "dumb money".... which IMO, includes those new here who bought yesterday and sold today hoping for a quick return today... then selling when the price started dropping today. Look back at the period from Dec. 20, 1999 to Jan. 24, 2000. Here's where the prices went:
DEC 20, 1999. $1.70
JAN. 04, 2000. $4.70 (276% gain in 11 trading days)
Now EDIG reached the $5.00 level... and smart money was out of the short position...
JAN. 24, 2000. $22.75 (484% gain in 13 trading days, total of 1338% by holding on to your original $1.70 shares from Dec. 20 the additional 13 days from JAN. 4, 2000.)
Those who sold today since the price was dropping after buying yesterday that should receive a "Thank You" card from your Market Maker. It's the least they can do...
Anyway, that's just my rambling opinion and I could be way off... but I was here back around then and while I made a decent profit at the time, I sold back then WAY TOO EARLY not knowing that information at that time that I have learned since then...
If I had bought at .10 21 months ago and sold yesterday at .22, I'd be as happy as I was in '99. But I don't want to kick myself again as I did in 2000.