For once I can agree with you some what. Obviously the large short position in the stock and the paid bashers on this board have a huge hand in the past few weeks price drop. Margin calls on VHC could be something interesting to consider but under $2 ETAK was not a marginable stock anyway but other margins calls could force a sell. However, I am buying now but not chasing the stock. Today I put in 20K share blocks at 1.05, 1.09, .11, .15 and every time the MM took the price higher. So I removed it and got pulled into a con call. When I came back it was closed at $1.14. Hopefully I get a chance tomorrow.
Sirius, I missed it too. I think as someone else said the VHC margin calls might have also played into it. Busy as I am I missed the $1 ps chance too. But clearly, whether the price drop was orchestrated as you say or due to VHC margin calls or both, as soon as it dropped under $1 the sudden buying of nearly 170K of shares in 20 minutes speaks volumes about the real story here and addresses quite adequately the bashers' spin.
bottoms are gut wrenching - puke out the stock until there is no more purging to be done.
I hate to use the "M" word - so I won't. Instead - let's see if we can close neutral to positive on the day - it would be a much stronger sign that we've probably turned the corner on price action. The sub 1.00 intraday is less significant than if it closed there. There will be enough volume today to wipe out any manipulation on the plus or minus side of the equation.
It has all the makings to be a reversal if the price is supported here.
I do wish I could say i bought at the bottom - but missed the bottom by 15 minutes (and 15%) - right at the levels here.
Greg Manning Auctions had this kind of circumstance with so much of the stock being held by an owner + a short circumstance. It took 2 years before it resolved itself, but when it did, it was magnificent. I have never seen such a perfect storm for a short position than Greg Manning based on the # shares in float /average daily volume and # of days to cover.
ETAK's number of days to cover is the most significant when considering the unwinding of a short position should the shorts need to cover.
Let's hope that those who buy here resist selling at small profits to give the shorts an out. The Greg Manning shareholders really made the shorts work for it.