argued here for several years that the Wall Street trading community is
not interested in this stock and just ignores it. All trading is
local. Main Street, Small Town, USA.
yesterday's sorta unusual activity (a million shares traded, yeah, only
valued at @$60,000, but for PVCT, that's real money these days) I
received a number of private requests (only 4) for my take. A longish
piece got lost in Computerland so I posted a brief few words. I could
hardly wait for today's opening. Would the unusual activity continue or
would yesterday prove to be just another mirage, we've experienced so
many of those.
opened with a jump to .068, a nice gain from yesterday's close but I
shook my head, that gain an MM signal to me for a down day. But the sp
held up pretty nicely throughout the first half of the session though
volume was fairly light. Shortly after 2 pm, a 44,000 share smack in
the face, knocked the sp down to a good-sized loss on the day. And,
by-the-way, that trade was one of only two trades ALL DAY at the Bid.
According to the way IHub labels activity there were 6 times as many BUY
trades as SELL trades today. The sp did bounce back up to the .065 area on decent volume. Yet, just a few minutes before 3pm a
1,000 share sell at .062 ($62) put us down for the day. But with a
whole hour to go, surely someone would step in at some point to close us
back on the upside. Wouldn't that be your expectation after yesterday?
watched as the final 60 minutes ticked off the clock and it was dead
silence in the trading arena. No buys, no sells, no activity. 3:30
nothing, no trades. 3:45, nothing, no trades. After
yesterday's semi-excitement, today just another reminder to me that our
stock trades on Main Street, not Wall Street and my only hope was that
one of you out there would step in at the last moment to save what was
left of yesterday (in
you're wondering, I have sufficient funds in my trading account to buy
10 shares and the Powers That Be refuse to acknowledge the sp effects of
such trades in the last minutes of the day, I know from personal
experience. They DO count the 10 shares in the volume totals!). And so
a BIG smile lit up my face when one of you DID step in with less than 2
minutes remaining, a 10,000 share buy to close us UP on the day at
Such, my friends, is how life is for us PVCTers. A soap opera about Main Street, Small Town, USA.