How does a stock rise 23% in six minutes? Well, it happened on Friday with SFMI. If you were watching closely all day, you could almost see it setting up....2 previous days of upside thrust with volume, and a Friday accumulation and retrace needed for positioning into the next week if the rally is to continue or big news expacted soon. It happened in the last 6 minutes of trading!
That six minute volume was nearly 600,000 shares and more than just a few big trades.....400,000 buy volume and only 170,000 sell volume. Yes, there was likely some week end positioning, but it was obviously not profit taking. And could there have been short covering after a 2 day RALLY???
So, what was that? Well it was confirmation that more than just business as usual is going on here. "It was what it was until it wasn't". Something different is up and I wont be concerned much if SFMI retraces a bit early next week. Very likely news with substance is near and the share price is headed for $.075-.10.....INITIALLY!
The previous move up to over $.07 was aborted for reasons only the MMs and SFMI know, but this has the ring of something more sustaining. We will know by Thursday at latest.....stay tuned.
Oh, yes....20,000 of those 600,000 share came to papa at $.049....pic
