In my opinion, the near term demand for RFMK on th
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In my opinion, the near term demand for RFMK on the buy side has not been much at all. Ever since falling from the 200 DMA a while ago the stock has continued to fall in price on rather low volume. This typically indicates low buyer demand, if any at all, amidst normal selling pressure. The price is usually walked down in such fashion on low volume in order to "find" pockets of demand or interest in the stock but even down here at par value ($0.001) it does not seem like any investors are interested in jumping in. Blame them we cannot because the CEO has failed to deliver transparency and on promises made almost an entire year ago. It does not take an entire year to get an auditing firm to perform a simple audit on a micro cap company with very little revenues. Something is amiss. At this point, I think it is safe to assume that the CEO flat out lied to shareholders about the audit and "imminent" filing of the 10K and uplisting. We have seen many shareholder updates since August 2012 making excuses for the delays and lack of transparency. At this point, from the stock action, it seems that there are just no longer any real investors or traders looking to take a position in RFMK until or unless they can see real corporate accomplishments. The CEO is silent, no word from Cheryl Shuman, no updates on the alleged new dry herb vaporizer product, no word on the audit or the elusive 10K.
The market players use such fundamental weakness and lack of buyer interest to work on the longs and anyone who owns a position in the stock; that is their game, that's how they work. When given an opportunity, they test support levels. This is well known in the stock market. Longs should not be surprised to see trips or par value prices on low volume. Even medium to higher volume at the current prices is still not a negative indicator as we have so many MM and market playa games and shennanigans going on in this stock, there is never really anyway to tell if the volume we witness is really the give and take between a myriad market participants rather than what I have suspected for years, just a few cronies shuffling shares amongst themselves creating the allusion of real shares and real money trading hands. Remember, the stock still has a DTC chill on it so there is a whole subset of would-be traders who have not been able to play this stock. There is no telling what it can do in the future given decent to good fundamental news and/or decent to good buyer demand and price action (with REAL traders and participants and no cronies shuffling IOU naked shorts back and forth to each other using Gbot, etc).
Do or do not, there is no try.
GLTA
$RFMK
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