ST, I don't agree with any of that. For a start 120% of all...

ST, I don't agree with any of that. For a start 120% of all issues shares were traded in the first 9 days of trading....but this includes all shares issued to vendors and seed investors and I would assume that for the most part seed investors hung on through that early period. That means all old shares traded twice over during those first days.....and at a very good premium to the issue price I might add. I would say that over hangers would be the reason VPC failed to exceed the high reached on day two of trading. Secondly I have also read extensively on gaps and I have NEVER seen it written that the previous close sets the gap. You and rockme and the only two sourced of this closing price theory that I have ever encountered. I have even heard an argument that a gap like the one between Feb 15th with its high of 5.2c and Feb 16th with a low of 5.3c is not a gap because all prices were touched. I personally don't like that theory as a gap is still visible on the chart. In this case it is academic as we had that down spike to 5.1c and closed that one regardless of what theory you believe in.