I've been watching this stock for a few days now. I've also made acceptable profits just trading it. Not as much as if I had held, but profit is profit right?
Anyways what I've noticed is pretty clear bid ask manipulation. I think it's due to the stock being quite cheap but with very little stock on hand. Usually stocks that trade in this range has tens of millions of stock on hand (TNT for eg).
So often yesterday I saw big "buy walls" 500k-800k large a couple of cents under asking price. To give the illusion there was security. Once the price dipped half or 1 cent, those buy walls disappeared to a lower leg.
In regards to this morning. I also saw huge buys pushing the price up to 44 opening at one stage. At around 9:58 those were cancelled and it opened at 41. It is a bit suspicious but as a trader the only thing we can do is go with the flow. Look at Kodak for eg. Clear insider trading but hey if you profited you profited and if you didn't you can be jelly.
AR9 Price at posting:
41.5¢ Sentiment: None Disclosure: Not Held
