IMO today's action is yet another example of someone is trying to hold the price down. It gets above .40, someone looks at level 2, sees exactly how many shares are lined up on the bid, dumps just enough to drop it down a few cents, then throws a huge ask up there to try to discourage people from buying.
The bottom line is that some buyers need to step up. Throwing a 500k bid up there is great, but until the buyers stop just sitting back and waiting for the sellers to come to them, the stock price is range-bound at best. The company needs to announce enough positive news to create enough demand for the shares that the people who are accumulating aren't able to sit back and just wait for people to be bored/scared out and actually have to pay up if they want shares.
AdamEricsom, you've said that it's difficult for someone to accumulate size without driving the share price up. There are over 500k shares just sitting at .368. If someone is interested in accumulating size without driving the share price up, seems to me that this would be a perfect opportunity, wouldn't it?
There are also 250k shares on the bid at .36 so it seems odd to me that with such a small spread the volume is not much higher. If someone really wanted to get rid of/buy all of those shares, I doubt $2000 is keeping them from doing just that ($250,000*.008). Seems fake to me.
It means the terms are not favorable if there a deal at all. Look at the price its dropping like a rock. Told you guys this stock is headed toward the .20's. No one is going to give them an loc. That is just more pumping by the pumpers. Watch and see what excuses they come up with when it doesn't happen. Mark it.