Very helpful. Thanks! I'm one of the long term holders and I'm really counting on this little bank to show continued improvement that will drive up the share price....permanently. I guess I'll have to be patient.
Thank you so much for your insight. This board is not very active. I guess folks are just waiting....
MF, I think it was a trading rally, not a rally grounded in fundamentals. If you go back to the first message in this thread, you will note that a technical analysis was published that ranked the common as grossly oversold. That probably triggered alot of short-term traders to take a position in the common driving up volume and price. At under $1.20/share, the common was the perfect speculative play - low entry cost and marginal loss even if a position was wiped out. The fact that most of the total common outstanding seems to be held by long-term investors who do not seem to actively increase or decrease their positions, meant that only a small float was available for "trading" at any time. This accelerated the price movement to the upside because there was a structural shortage of sellers. Conversely, this same small trading float contributed to the sharp price decline when traders decided to cash out because there was a structural absence of buyers. To be honest, I would not be surprised to see this pattern repeat itself if another external report makes the common speculatively attactive. Trader behavior can be very Pavlovic and herd-like.
Just my insights and thoughts. I hope they are helpful.
the recent volume and price movement indicates there is a player in the wings? does anyone have a thought on what is happening and when the news might break? looks like this one may be over so with a shot gun wedding. surely before quarter results are released?