the price action today and for the last few days or so has been, IMO, large insto investor selling out, rather than the market not responding.
the top of the sell stack is constantly being topped up with large sell orders of 1-2.5mil in the options- over and over. the buyers are there, they are buying into the sell stack but it is continually topped up whenever we get a glimpse of blue sky, capping GDNOA at ~.008.
IMO we won't be moving far until this seller has finished getting out, but once he's out we'll know pretty quickly - the shackles will be off and we'll start moving freely, welcoming buyers who might be currently waiting off-screen.
wish i knew how long this is going to take - my options were worth .012 on 8/3/10 on far lesser news!
Julian
GDN Price at posting:
13.6¢ Sentiment: Hold Disclosure: Held
