Accumulation coupled with short covering and index movements. This is a low volume stock. Any major short covering and the price spikes. Any major institutional buying/selling and the price spikes one way or the other. For three days they took out the stops. Today they buy at the open and take out any sell orders - then short it back down again. Computers dueling with computers. Ban high speed trading and all of this goes away. Put the original uptick rule and a lot of this goes away. Stick a $.01 per share transaction fee on every share and it all stops almost immediately.
Could not agree with you more. Once we got below $20.20 the trades seemed to be "boxed" in until we broke through $20 ($19's unfortunately). the volume was very low. I did think we would turn around a bit due the NASDAQ index finishing green. All we need is one more Analyst to set the PPS to $25 (Wedbush is at $18) or higher. Anyway, GLTA