the sellers were short term traders:
over two hundered "swing traders" who were buzzing around as expectations of the news grew. (when larry announced for posters to p.m. him as pertains to receiving a copy of his report, he got hundreds of people who never post ...they just watch)
they strated buing at .60 with intention to sell on news
many of them bought right up to .95 cents
when the news came out, they sold just as they planned to
this is called a self-fullfilling prophicy of a sell-off on news
i was telling Frank yesterday, it did not matter a hoot how good the news might have been (and it was very good) ...we were destined for a self - off.
this scenerio is extremely common (...this culture started growing with the growth of internet and daytraders working from home , starting in around 1995-9 ...and this scenerio will continue.)
what is comforting is that those that get hurt the most are those traders who cause the sell-off in the first place ...they will never learn ....it's just like gamblers at a casino :))
cheers to all
