The stock has gone up slowly on heavy volume with no pullbacks. Penny by penny someone slowly clears out the offers. That is how a stock trades when someone wants shares (not just to move the stock). They must want the shares reasonably quickly as well...otherwise it would be beneficial to buy for a while then step out and see if the stock retreats. Hopefully this continues, but it is only .37 cents, 50 minutes, and 425,000 shares. It is way to early to see how much this guy really wants, but this is definitly not bad news for longs.
The buyer should be asking that the shares be delivered. Sadly its possible that sales could be naked shorts protecting their previous naked shorts.
I would like to here a good argument on the value of shorts that justify their existance. Let alone naked shorts. Also, what do other markets do about naked shorts???? Does anyone know????? Do they allow this world wide???? Wouldn't this leave it open for financial terrorism??? What do makets in other parts of the world do???