this thing prints .70. Too much volume to hold it back. There were millions upon millions traded between 23-31 cents from the 2.2mm the day it was delisted and 6 months hence. Those folks, like me, are enjoying up to 200% gains at .65. MM's are lined up all day in the 64's and then finally ARCA shows their hand on the bid for the second day of the rally. UBS laying back on the bid but surely drilling the ask. The only reason we didn't do yesterdays volume was there was no 215k block. I predicted 2mm for the week and we have surpassed that in 2 days. MACD is still low and tight-no ballooning at all, RSI on daily and weekly still below 70, and BB's on weekly haven't even been breached yet. I think we print 75 this week. I knew Forbes readers have serious firepower and someone said they might spend 1k each if they became buyers. These folks have big gains across the market and are paring them for the likes of JSDA. Sounds too good to be true-but this thing is just getting started. Volume always proceeds price on big moves0that is a market axiom. This is a dollar stock all day long, and the engine is revved-with the clutch about to dump. Don't fight the tape. Don't fight the dummy.
Unless that was robot trading yesterday. It kind of seemed like it. those programs trade back and forth for a fraction of a penny gain. Not like it was 20 years ago... Monday's move may have brought their attention.
alg trading is done by the likes of DE Shaw, GS, and the other huge institutions. These are not the type of investors involved, therefore the avg forbes reader is not using algorithmic trading software.
I hope that clears up the issue for you.