Wolfie,
Not sure if I answered your chart question. I am seeing very similar action to how PHOT traded at these levels. In fact, Fridays close was very positive. Bears again tried to break the .075 level and encountered hidden, silent, quiet buying once again. Now that the Naked Short Selling rule is in effect looks like its going to take alot to move this to the downside. Meaning, a silly Seeking Alpha article will make no difference to the stock price. An unsubstantiated rumor will make no difference. Why? Lets say I was starting a false rumor. In the past I could spread the rumor and then go short the market Naked making it look like everyone was selling. This would in turn start the panic. Now, that I can't do that I have to rely on people actually selling their shares. I can't get the ball rolling myself. The only ones who can try are the mm's and they are not in the business of doing that. MM's will cap the market in order to cover the shares they sold to provide liquidity or they may lower their bids if they see sell orders coming in to get a better spread but they will always bring it back up. MM's will not hurt the market as they need us to keep giving the business. JUST MY TWO CENTS FROM BEING AN MM..
Not sure if I answered your chart question. I am seeing very similar action to how PHOT traded at these levels. In fact, Fridays close was very positive. Bears again tried to break the .075 level and encountered hidden, silent, quiet buying once again. Now that the Naked Short Selling rule is in effect looks like its going to take alot to move this to the downside. Meaning, a silly Seeking Alpha article will make no difference to the stock price. An unsubstantiated rumor will make no difference. Why? Lets say I was starting a false rumor. In the past I could spread the rumor and then go short the market Naked making it look like everyone was selling. This would in turn start the panic. Now, that I can't do that I have to rely on people actually selling their shares. I can't get the ball rolling myself. The only ones who can try are the mm's and they are not in the business of doing that. MM's will cap the market in order to cover the shares they sold to provide liquidity or they may lower their bids if they see sell orders coming in to get a better spread but they will always bring it back up. MM's will not hurt the market as they need us to keep giving the business. JUST MY TWO CENTS FROM BEING AN MM..
