REDG recent trading: The MMs handling the conve
Post# of 1674
Posted On: 09/10/2015 8:08:28 PM
REDG recent trading:
The MMs handling the convertible debt notes due had been trying to sell on the ask and when nobody buys on the ask they would whack the bid to a certain extent and also sell some for 5-decimal place prices without detracting from the bid.
For the last few trading days, there has been no obvious large-scale note selling.
The bid has grown to 100M+ at .0003.
The ask has about 20M at .0004 in GTCs and up to another 30M put up as day trades each day by 1-tick flippers.
In my opinion, once those wanting in or more prior to the start of the main PR campaign on the run up to the GSL launch on November 4 will start to hit the ask once they are confident that the note holders won't provide buying opportunities at .0003.
When that starts, there won't be much available at .0004 if people start buying 5M>15M at a time and, provided momentum is maintained, flippers who got in at .0003/.0004 will probably not stack the ask as there should be a decent continued run up once people realize how big the GSL revenues will be.
I anticipate that most longs - many of whom have been following REDG for up to 3 years - will hold at least until the 1Q financials in 2016.
The MMs handling the convertible debt notes due had been trying to sell on the ask and when nobody buys on the ask they would whack the bid to a certain extent and also sell some for 5-decimal place prices without detracting from the bid.
For the last few trading days, there has been no obvious large-scale note selling.
The bid has grown to 100M+ at .0003.
The ask has about 20M at .0004 in GTCs and up to another 30M put up as day trades each day by 1-tick flippers.
In my opinion, once those wanting in or more prior to the start of the main PR campaign on the run up to the GSL launch on November 4 will start to hit the ask once they are confident that the note holders won't provide buying opportunities at .0003.
When that starts, there won't be much available at .0004 if people start buying 5M>15M at a time and, provided momentum is maintained, flippers who got in at .0003/.0004 will probably not stack the ask as there should be a decent continued run up once people realize how big the GSL revenues will be.
I anticipate that most longs - many of whom have been following REDG for up to 3 years - will hold at least until the 1Q financials in 2016.
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"Per Ardua Ad Astra" - "Through Adversity To The Stars"
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.