Day started very bullish and about 50k shares of OVTI were bought at $12.50 as soon as the market was opened. Most volume of the day was in $12.44 to $12.50 range. One or more hedge funds decided to stop OVTI at any price at $12.50. It was planned and communicated to each other by hedge funds. There is a secret sign to start the attack. The secret sign is when a few trades happen with some odd number of shares like 231. They put a wall at $12.50 first. They know all the tricks. 1- Friday is a low volume day and usually institutions do not buy after lunch on Friday (go home early for weekend). 2- OVTI ran in past 3 days and some traders are willing to take some profit. 3- 50 day moving average was sitting at $12.50. 4- OVTI was done its buying in the morning. 5- There was at least one stop loss at $12.38(no volume from $12.40 to $12.32)
The shorts paid a heavy price to push it done and they hurried to cover before the market close. That is the reason we closed green.
The dam has opened and OVTI cannot be stopped from moving up any more. This is a fact by looking at all the recent daily trades.
Shorts cannot afford to pay heavy price like this Friday and they have to come up with a new plan. Time is not in their favor and daily buyback is a nail in their coffin.
I watched it all day it could not break 12.5 then after about 1 on very light volume it went down 15 to 20 cents easy to see whats happening on a friday afternoon if the markets not down big at the open monday i think it opens back rght at 12.5