I agree, the daily short sale transactions were ve
Post# of 11899
I agree, the daily short sale transactions were very low compared to the total volume. Todays action consisted of light volume, not many flippers or shorters and one or a few sellers dumping at lower and lower prices.
20120926|RFMK|2876815|0|16916801|O
It is no surprise that there is systematic dumping of shares each time the stock bumps up against the 200 day moving average. The stock has come up to the 200 DMA twice before and failed to close above it so this is a third time. There was accumulation for many weeks between the .0007 and .0021 range, so some are systematically taking ~50% to ~100% gains off the table, which is no surprise. This is natural and healthy. The main issue which causes confusion though is that we get these days interspersed in the weekly tape that are high volume days with a lot of price and volume manipulation via a high level of short sales vs total volume, so it looks like day in day out of constant dumping but it is not; its a mix. When we do have periods of massive accumulation, you will see the candles stack up very bullishly on heavy volume and the PPS sky rockets; has occurred a few times now already. I have stated many times that the 200 DMA will be the key and that it will provide heavy resistance, especially the longer it takes to break through. It will take a longer rather than a shorter amount of time to break if the daily volume is low, remember the float is about 1B shares. It would take enough time to churn through those taking profits at these levels for several months in order to reset the myriad cost basis's for all the lots held by unique participants, OR, the daily volume would have to sky rocket and be bringing in at least a couple hundred new investors into RFMK, to eventually break the 200 DMA. I think only the 10K and audit could potentially bring in new investors along with exposure like what is happening tonight with the CBS TV spot featuring the CannaCig. We shall see.
GLTA!
$RFMK!