runk watch the trading now. The hedge or a trading desk is putting long shares at risk as a fence so others wishing maybe to exit will come under their ask and sell shares. Someone bought their fence of 3.5K at 1.76 and then they put a 5K at 1.79 then quickly moved that to 1.81 for safer keeping. Peeps are nibbling here either to cover or accumulate. Not sure of the amount needed as it would show on level lll or the Hegde wouldn't put that fence of shares to risk knowing someone was waiting for them to buy. If this is going back up to even $2.00 then shares at $1.80 are 10% bargain.
Lots of ideas and questions to be answered. Money decides where this goes. When more money wants in than out generally it will go up eventually. Volume creates money. The hedge can take this lower but has a big stake in the future of this equity as they create range and use that range to create capital. If its easier to take this down to do that they will. Was that bump at the start a new spot to short from? We'll see. We are getting closer each day to a turn in this. This NGSX is part of several index funds and must be bought. Look for institutional money when its added to be the catalyst that eventually sends this higher.
Runk...Take a look at this guy. Doron Breen is an attorney with power whom has signed not only for his shares but also for some other people. If you look at where the shares were purchased they are in a quite high PPS sometimes near the 9 dollar range. Looks like a good portion of the shares are in a trust. The sale of the 400K shares on June 16 were after the spike and not going into it. The address given to the owners is in Israel. Looks like the shares were a continued unwinding of his position started a year earlier with still shares left to go. He was also signing for shares in OREX. Take from it what you will. The dumping of those 400K shares after the spike helped it sell off the next day and generated the momentum that pushed this lower in the minimum.http://biz.yahoo.com/t/65/8338.html