Posted On: 10/29/2014 6:33:10 PM
Post# of 56323
Frankly OTC, I don't see any massive selling volume in the last several months especially in light of the near 1 billion+ shares which have become eligible to enter the market since the April/May timeframe.
Following are the MONTHLY VOLUMES & CLOSING PRICES:
Jan --- 3.5 Billion --- 5.43c
Feb --- 1.956 B --- 7.71c
Mar --- 1.575 B --- 8.55c
Apr --- 873 M --- 8.9c
May --- 754 M --- 6.8c
Jun --- 263 M --- 5.37c
Jul --- 304 M --- 5.45c
Aug --- 262 M --- 6.64c
Sep --- 356 M --- 4.76c
Oct (-29) --- 294 M --- 3.4c
Prices dropping on decreasing volumes doesn't exactly scream "run-away, RUN AWAY!!!" It does scream manipulation by some shareholders and most certainly the market makers who routinely "paint the tape". That's the main reason that while I'll firmly defend well-reasoned TA on Russell 2000 stocks and larger, I don't give it a lot of credence on these PINKS. Just too many games can be played by "bigger pockets" in the OTC markets with bid-rigging and front-running whereas these guys $$$ wouldn't be a gnat's eyelash in the larger, highly liquid equities.
BTW, IMO those massive unrestricted shares held by insiders, and eligible for sale since ~April don't exactly look to me like they have been "dropped" into the market from the dwindling volume numbers which I'm seeing (as shown above). Anyway, that's my take. Cheers.
Following are the MONTHLY VOLUMES & CLOSING PRICES:
Jan --- 3.5 Billion --- 5.43c
Feb --- 1.956 B --- 7.71c
Mar --- 1.575 B --- 8.55c
Apr --- 873 M --- 8.9c
May --- 754 M --- 6.8c
Jun --- 263 M --- 5.37c
Jul --- 304 M --- 5.45c
Aug --- 262 M --- 6.64c
Sep --- 356 M --- 4.76c
Oct (-29) --- 294 M --- 3.4c
Prices dropping on decreasing volumes doesn't exactly scream "run-away, RUN AWAY!!!" It does scream manipulation by some shareholders and most certainly the market makers who routinely "paint the tape". That's the main reason that while I'll firmly defend well-reasoned TA on Russell 2000 stocks and larger, I don't give it a lot of credence on these PINKS. Just too many games can be played by "bigger pockets" in the OTC markets with bid-rigging and front-running whereas these guys $$$ wouldn't be a gnat's eyelash in the larger, highly liquid equities.
BTW, IMO those massive unrestricted shares held by insiders, and eligible for sale since ~April don't exactly look to me like they have been "dropped" into the market from the dwindling volume numbers which I'm seeing (as shown above). Anyway, that's my take. Cheers.
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