Meaningless and of marginal entertainment value. About half the time it's up a few cents and about half the time down a few cents. Seems to me it is just small orders with instructions to either "buy at close" or "sell at close". Why anyone would do this is beyond me.
Seems we are straddling the 50dMA. Nice that Q4 is almost over and we can start a new clean FY on April 1st with a full year of SPEED and solid guidance. Will be interesting to see if they do indeed tighten guidance when they report in early May. If my memory is correct, Willis said they would at the last cc. I doubt we go over $3 before Christmas yet likely over $4 by next May. Cheers.
Anyone wanting a boring SURE THING +50% gain over the next 18 months should just buy BAC (even today) and forget about it. I've been buying it for a year plus and selling covered calls and keep losing my shares....but I keep on buying it back. Time to forget about the cov calls and just buy a pile and lock it away.
Just watch the stock today - will head down during the morning on low volume, stay there most of the day, then come back towards the end of the day. If not, oh well, just some mild entertainment I've had this week.
On BAC - wouldn't touch it. There are many other lesser-followed, stronger banks out there in both the large banks (STI) and many, many smaller regional and community banks that are turning in simply great results, have great dividends, are growing, will be increasing dividends (because they are now generating so much profit), insiders are buying, and nobody is following them. I am, and have been building up a diversified position across them. Those I can sleep well with and come back to in a year or two and be looking at big gains.
What "pattern" might you be seeing? If it's the drop off in price at days end, then that is quite typical for Navarre. Usually it occurs with a 100 share trade. Some have pointed this out here before, calling it "painting the tape". Today's drop was the result of a 1000 share trade or 20% of today's volume. Likely a limit buy order sitting their waiting to be filled. Maybe the Roth conference will get the stock volume up, these conferences usually do. I see that Pixelworks will be participating in the conference also. Another of Becker Drapkin investments.
I do see some resistance in the low to mid 1.95's or the lower part of the channel. Hope it holds.