Monday, June 8, 2009

Monthly Share Volume Report and what I would like to see

The monthly share volume report has been out for a week, but I am just getting around to taking a look. As expected we had massive volume in May - the highest volume ever. Total Share Volume was 642,366,991. This is over 128% of our total authorized shares trading hands in a single month. Can you say "day traders??" We had 21 separate market makers handle the stock during the month - also a new record high.

We thought we had massive trading in April, and we did. But the May trading ballooned until we met our OS limit. Since then we have certainly not had any 50Million share days. But the trading has still continued way above average. With a little over 7Million a day averaged so far this month, I estimate we may see about 156Million shares traded in the 22 trading days of June. As you can see, this is down from the "abnormality" of May - but up from any other month. Since we have hit our max OS in May, none of this months trading is dilution - it appears to be all legitimate volume based on increased investor/speculator/day trader interest.

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We definitely had a jump up since I called a move before trading last Thursday.
Now I would like to see some "gaps up" to build off that pendant formation. Note we brushed the top of the upper bollinger band today and we are once again above both the 20 and 50 day MA. How about a "pop" through that upper band and a move above the top of our flag pole at .0145? That would freshen things up a bit. We could sure use some solid "good news" from the PR department right about now while we are still sitting sweet. Hurry before these short term technicals turn to mush. . . - lol
Good Luck to Investors,
SkunK

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