Level 2 looks to me like there is a lot of selling pressure in the high 1.40's and low 1.50's. This is what resistance looks like in the real world.
The good news is that once those sell orders have been filled, that resistance will become support, and the likelihood we will see 1.30 again will continue to decrease.
I have a pric point that I will sell at... I am dropping my higer priced shares...
You have nerve complaining about my posts... your posts make the MM posts seem valuable so put me on ignore and neither of us will see each others posts...
A few pennies matter when it happens day after day. Shakes confidence. I think YMI is a solid company, and I'm not that concerned about the day to day manipulations in terms of lost money, because I know there's no foundation to the large price fluctuations this stock sees. But that's what irritates me about it. There's no foundation for it. It's just someone out there driving things down to trigger some stops (which they can see, which is necessity, but dirty) and incite a little panic selling if they can, then running it back up to make a bit of profit in between PRs, and accumulating some inventory for the inevitable PRs that will come out. Overall, it can impact my investment when people aren't comfortable owning the stock because of the wild fluctuation. But, that is the art of manipulation. If they are too flagrant, they hurt the company they're working for, which isn't in anyones interest. Unfortunately, YMI didn't hire much of an artist.
you are outright scary...
The bread thing was when you are buying its nice to buy cheap... furthermore bakers bake bread they don'y buy it a day old...
have you any conviction in your moves... why do a few pennies matter so much to you... and it sure doesn't take a market maker to move the stock for pennies... a round turn trade on this stock costs me 1.3 cents so I could make money in my roth account the same way, although I might be suspected of being a "MM" myself then. I agree with billa--- on how tiresome the 15 MM posts a day are
As far as what you call walls I could put them up myself and trade pennies, in fact when the shares go back to the mid 1.50's I'll put up a small wall of my own and probably reduce my holdings to 100,000 to 130,000 shares... I have held YMI for many years but the recent small (2.5m) offering and the buy and sell tactics of Allan look more suspicious than any walls do.
Final blow is no acknowledgement of inquires to IR at the YMI email contact point.
What I mean by wall is resistance that is constantly pumped at a certain level, never rising above a certain price, but disappears when the buying pressure comes off. Then the sell-off blocks come the next day, volume willing. And the bread analogy? It's more like being a baker, and watching the bigger baker sell at a loss to keep you from being able to make a profit. Except he's not selling at a loss, because he'll actually be buying that bread that he sold you tomorrow, cheaper than what he sold it to you for, possibly even from you, if he can scare you enough into thinking that bread isn't as valuable as it was. Or something like that. Screw the bread analogy, it's worthless in the markets.
On another note, I laugh when people say the whole MM manipulation thing is a myth. There's money to be made by pushing pennies around; greed is the only master that is served in a free market, so of course there is manipulation. Especially considering the very loose "regulation" the markets have. The SEC is a nutless joke. As are those who believe that there is some form of integrity in the markets.
Disagree with you on most accounts. First of all this type of stock does not trade with the market. So any dip it incurred was simple a shakeout by MM. Second of all when there was a spick in April it was on great news, go back and look for yourself. Not only was ther news, but for 3 straight weeks there was over 1 million in volume. Once again, the spike up had nothing to do with the stock market.
The only news I can see in March and April for YMI is Skymark initiating coverage and a secondary.
As for the market dip in June, look at any chart for any stock, and you will see a dip.
Whether YMI "trades with the market" depends on how a particular trader understands a particular chart in a particular time frame and what that stock does on a particular day. Sometimes stocks trade "with the market," other times they don't. It depends on things like rumors and news.
I am trying to figure out why a person who believes a conspiracy of market makers are manipulating a stock not only would buy it, but would also append a "strong buy" recommendation to others in his tirades about the crooks who are preventing him from making money.
HLCS today in an example of what happens when truly game-changing news is released. Do you think the market makers are manipulating this run? Do you think it will be the market makers, not the ebbing of buying pressure, that will end it?
That dip down into the 1.10's in June was part of the market-wide panic that was going on at that time about European sovereign debt. Just about any chart you look at has that dip in June.
I was glad to see it and took advantage of the opportunity to average down with a buy at 1.10.
If you look at the chart before and after that dip, YMI was trading as a 1.30 stock. The spike on no news in April was a spike on no news. People who said we'd never see 1.38 again at that time seem to have been basing their prediction on wishful thinking. People fantasize a lot about the stocks they own.
We are building support in the 1.40's on pretty impressive news, and we might even see a little run from here.
A positive announcement concerning OFAC and/or statistically significant positive Oncoscience results would get us out of the 1's on massive volume.
The last time I remember YM stock not moving much northwards with buying and at the same time being propped up on the downside when sellers were a plenty they did a ....I hate to say it again... Financing
I suspect another may be in the works. Speculation only.
Regardless it is not going to affect my position at the moment.
Next financing will not be announced until it is already completed.
At market price sales.( re read the terms)
That is one of the benefits of the way it is structured.
Stealth financing. A good tool to have in the arsenal.
Price would probably take a hit after announced completion of offering.
But not as bad as a pre-announced equity offering.
Any dip on that finance completion announcement could be a good time to buy.
They should have enough money for the rest of the year though.
Just speculating here.