Was hoping it would stay above .08. but lost ground 3 days in a row. The penny stock market world pretty much sucks. I now think it will need some good news to make any kind of push to .15 this quarter.
It's nothing but chart-followers trading!! Three-step drop action, a standard action where day traders dominate the activity. Now it will hover around 8 cent for a while and may get an upward move. There is nothing important happening!! Just accumulate more whenever it hits points below 8 cents.
Traders buy now and sell whenever it hits points above 9 cents, making a penny. If one of those traders does that for say 100K shares, he makes a thousand bucks - not a bad return for an investment of 8000 bucks in just a month or less!! This is how they make their living!!! Do not read too much into this type of swings.