Pattyp,I don't think what we are seing is what you might call...

Pattyp,I don't think what we are seing is what you might call 'normal market action'.
For some time now unrealistic bids & asks have been on the market depth.

There has been what you could only describe as a concerted push to drive prices down to start with then a seemingly normal period where prices move up slowly as you would be expecting but then something changes.
'Someone ' moves in and sells the price back down again. (Yes, loses money.)
Then a large placement, say 20-25,000 is put on 'sell' at this low price. This caps the market and no one needs to pay more for some time. Eventually this block is sold and some one decides to buy a few at the new higher ask!
Not on. Another block is quckly offered at the lower level. This happens repeatedly, pegging the price down and destroying the confidence of 'normal' traders, assuming there is such a thing.
Then, 'voila', there is a little rash of buying and the price climbs a bit.
Nervous holders decide they've had enough and a selling frenzy starts, this moves the price down strongly and I wonder who is buying?

If you were a 'big player' and wanted to build a serious holding in this stock you could employ a broker or pro trader to play this game for as long as it takes. Buying a swag at low prices, then paying extra for some to lift price and confidence a little. Now capping with a block of stock on offer at the new high. As these dry up selling things down again, bringing back the fear. Picking up another good quantity at the bottom and so on and so on until you have filled the buyers order.
Regular market players can't work out what the hell is going on.
When finally satisfied the patient 'buyer' goes away and slowly normality returns.
This sort of game has to be played during a lull in the market for the particular stock. No good trying it like say, in a few weeks time and GDY might announce the "Fantastic results obtained from Closed Loop Tests".or whatever.

Clues to look for. Abnormal behaviour in Market Depth with an unnatural number of shares being placed on offer.
Like a block of 20,000, which caps the price rising.

A repetition of the slow rise up followed by a strong sell down again.
If you have shares you want to sell and the price is moving up would you suddenly rush in and dump them all at once 'at market' and have to take a lower price for many to fill your order? No, you'd put them on sell at or just below this new high.
If you are able to view the market depth see what you think.

Anybody else got a take on this?


geojac