Lunch time bear raid Bears dumped out about a mil

Lunch time bear raid

Bears dumped out about a million shares between 12:17 and 1:19 in today's raid to clear out bids at and above 3 cents. Action started with the NITE ask sitting, and they are currently pinning showing 2.1 million at 3 cents. They are desparately trying to prevent a break above the 20 DMA by attacking 3 cent support.

My guess is that when some more bulls come back from lunch we see the 3 cents ask start to get hit with volume. This is a do or die gambit for the bears. If it works, they could delay the rally a little bit more but if it fails they really got even deeper into shorting the lows.

[IMG]http://i.imgur.com/PfDGl.png[/IMG]