equijohn, Just woke up to get some water and I no
Post# of 11899
Posted On: 01/07/2014 3:38:56 PM
equijohn,
Just woke up to get some water and I noticed RFMK trading back at par value in the states. It is not even morning in Hong Kong. I will do some analysis on the days trading later today but from the look of it most of the volume has gone through at par value ($0.001). There was only about 1M traded at triple 6, a few million at triple 7 and 8 then a couple tens of millions at 9 from what I can tell. For sure over 100M shares traded at or above par value today. From the quick glance through the tape I am noticing that the "action" looks quite bullish; a couple low volume bid whacks of 100 shares immediately followed by very large trades at the ask. I never like to refer to the trading as a collection of "buys" and "sells" because they are all just merely "trades". For every buyer there is a seller and vice versa, or that is how it should be anyway.
I cannot surmise why the move is happening but it appears to be primarily based on technicals. The stock has generated momentum and now it seems to be getting quite thin on the way up. It makes sense though in retrospect because as you recall, only about 250M to 400M shares had traded during the period which took the stock down from par value to triple 2's, so it stands to reason that on the way up those at specific cost basis' would likely only be taken out at certain levels before the stock would move higher.
On a more fundamental note, it does not surprise me that there could be positioning by RFMK investors in anticipation of the March deadline (promise) for the audited financials as well as the potential for uplisting, stock ticker symbol change, company name change, new product launch, etc etc. BWDIK...
Take note how the peanut gallery seems to be missing in action as the stock sky rockets. Hmmm, perhaps they are too busy BUYING?!!!! Hehehe, how embarrassing, how embarrassing!
May the force be with you.
$RFMK
Just woke up to get some water and I noticed RFMK trading back at par value in the states. It is not even morning in Hong Kong. I will do some analysis on the days trading later today but from the look of it most of the volume has gone through at par value ($0.001). There was only about 1M traded at triple 6, a few million at triple 7 and 8 then a couple tens of millions at 9 from what I can tell. For sure over 100M shares traded at or above par value today. From the quick glance through the tape I am noticing that the "action" looks quite bullish; a couple low volume bid whacks of 100 shares immediately followed by very large trades at the ask. I never like to refer to the trading as a collection of "buys" and "sells" because they are all just merely "trades". For every buyer there is a seller and vice versa, or that is how it should be anyway.
I cannot surmise why the move is happening but it appears to be primarily based on technicals. The stock has generated momentum and now it seems to be getting quite thin on the way up. It makes sense though in retrospect because as you recall, only about 250M to 400M shares had traded during the period which took the stock down from par value to triple 2's, so it stands to reason that on the way up those at specific cost basis' would likely only be taken out at certain levels before the stock would move higher.
On a more fundamental note, it does not surprise me that there could be positioning by RFMK investors in anticipation of the March deadline (promise) for the audited financials as well as the potential for uplisting, stock ticker symbol change, company name change, new product launch, etc etc. BWDIK...
Take note how the peanut gallery seems to be missing in action as the stock sky rockets. Hmmm, perhaps they are too busy BUYING?!!!! Hehehe, how embarrassing, how embarrassing!
May the force be with you.
$RFMK
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