Seeking Alpha

H. T. Love's  Instablog

H. T. Love
Send Message
Spent over 30 years in computer systems work, many different functions. Owned my own business for awhile. Got tired of it (managing employees is not my baliwick) and stopped doing it professionally. Did other things, off and on, for some more years and finally bumped into this investing/trading... More
View H. T. Love's Instablogs on:
  • AXPW: Intra-Day Trade & Buy:Sell Inflection Point Charting Beginning 08/01/2014

    Links to blogs older than the 01/01/2014 version, PIPE discussions, one year charts will be found only in that and older blogs. Most historical short sales related stuff has also been chopped.

    In the below chart the volume is inverted to enhance readability! Be aware when you view it!

    (right-click and open in new tab, position cursor over image to be able to zoom and scroll)

    AXPW Intra-day Statistics Chart 20140821

    Next are modified inflection point calculation charts bracketing a price chart for comparison.

    The next two identically calculated inflection points are calculated differently from the original above. I have two different presentations of this newer version. The top one has all periods on the same scale. The bottom one has longer periods on the left scale and shorter periods on the right scale. The hope is that shorter period changes will be easier to spot. More work to do, this is a start, hopefully.

    Other changes I want to try are still waiting for me to work on them.

    (right-click and open in new tab, position cursor over image to be able to zoom and scroll)

    AXPW Intra-day Statistics Chart Test IP Calculations 20140821

    Older stuff for "2013 Dly Sht % of 'sells' values", Weekly 85% price summaries going back to 6/14/2012, and some day-to-day VWAP changes stuff going back to 10/09 are available in AXPW: Intra-Day Trade & Buy:Sell Inflection Point Charting Beginning 10/1/2013.

    Believing that the PIPE financing has run it's course, I'm not going to post stuff related that any more. The calculations will still be available if needed though.

    08/21/2014: EOD stuff partially copied to the concentrator.
    # Trds: 44, MinTrSz: 150, MaxTrSz: 90000, Vol: 597450, AvTrSz: 13578
    Min. Pr: 0.0850, Max Pr: 0.0900, VW Avg. Tr. Pr: 0.0880
    # Buys, Shares: 22 189450, VW Avg Buy Pr: 0.0891
    # Sells, Shares: 22 408000, VW Avg Sell Pr: 0.0874
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:2.15 (31.71% "buys"), DlyShts 57000 (09.54%), Dly Sht % of 'sells' 13.97%

    We need to hire a new painter - the close was right in line with trading of the last half hour, which ranged from $0.0875 to $0.0896. Yes, there was a buy at 15:59:23 of 1,800 shares for $0.0896 but the four trades before it, latest to oldest, were $0-.0875 (15K), $0.0876 (10K),$0.0895 (10K) and $0.0895 (1k). These all happened from 15:56 to 15:59. The trade before that sequence was a sell at 15:28 of 25K for $0.0875.

    I continue to think there's a decent chance that for the moment the $0.085/6 potential support will hold up, due to negative signs weakening and next week we go into the period of the month when we've traditionally seen prices stabilize and even improve slightly sometimes.

    At last it looks like the low-volume days I thought would be needed to slow the descent are taking effect. Here's VWAP percentage changes 8/13 through today, 8/20: 0.74%, -3.56%, -1.62%, -5.18%, -0.31%, -1.75% and -00.65%. The effects of the last high-volume day on 8/18 should be almost totally gone now. As suggested yesterday "that effect should begin to dissipate tomorrow as daily short sales percentage starts an up leg again". Daily short percentage now has two consecutive increase, but are still at very low levels. That should change today or tomorrow. If it does, our chance of staying above $0.085x-$0.086 and, more importantly, $0.08 continues to improve.

    There were really no outliers today. The high and low trades both had some volume and were within range of other trades with similar prices and volume.

    On the traditional TA front, we had a very narrow spread that resulted in a hammer, indicating a bullish reversal 60% of the time, only a bit better than random, according to Bulkowski. Unfortunately he also notes that when reversal does occur the rise is not very strong, "... ranking 65 out of 103 candles where 1 is best". We also have four consecutive days of lower highs and two of those days with lower lows. Today had rising volume on a lower trading range and now six consecutive days of lower VWAP. I think this supports the weak appreciation if we do get a reversal.

    However, the Bollinger band lower extreme, $0.0846, has contacted our low now. This offers the possibility that a tendency to revert to the mid-point may show up. With the upper extreme at $0.1114 the mid-point would be ~$0.093. The limits are still widely spread and converging (upper dropping significantly faster), so the mid-point will change.

    The adjusted trend lines' resistance today is ~$0.102 and the support is ~$0.076. So our current trading range is almost smack-dab in the middle right now. So this doesn't add any directionally suggestion right now. The potential support from the recent intra-day lows of $0.0851 and $0.086 seems to be operational right now. But we know from past experience that can be fleeting. The best hope that it may hold strongly lies with ...

    The 600K $0.085 bid from NITE appeared today at 12:28. Again, it was probably there all day but was masked by better bids from NITE until then. By 12:44 it was masked by better bids again.

    Most of the oscillators I watch were slightly weaker today with the exceptions being RSI and MFI, which remained essentially flat.

    My non-traditional stuff remains negative but the move towards less negativity continues. My original calculations have five periods marginally improved and one minimally weaker. The newer calculations have the same profile today and having been improving for three days now.

    There were two AH trades for 10K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 587,450 to 597,450 and would lower the short percentage from 09.70% to 09.54%. If the shares are also added to the short sales, the short volume moves from 57,000 to 67,000 and the short percentage would be 11.21%.

    Daily short percentage had its second day of (very small) increase now. I think this indicates the effects of the high-volume wide-spread days are now fading. I expect a sizable jump up in the percentage either today or tomorrow if volume remains low and/or spread stays relatively "tight". Consider that "real" short could be slightly higher as noted in the prior paragraph.

    ARCA was absent today.

    Buy percentage deteriorated as prices VWAP dropped. This is the third day of "flip-flop" in the buy percentage behavior. All I can guess is that the sellers, and very likely, short-term long MMs being most of those, are still predominant. Yesterday I thought the sellers might be backing off, at last. Today puts that assessment in question. From 8/7 onward the selling was 58.75%, 75.21%, 76.95%, 68.46%, 81.10%, 90.57%, 84.14%, 55.44%, 47.7% and 68.3% today.

    Today's low, high, VWAP, trade volume, and daily short sales moved 2.41%, -4.26%, -00.65%, 18.55% and 30.49% respectively. Price spread today was 5.88% vs. 13.25%, 7.05%, 11.74%, 19.89%, 9.38%, 8.85%, 21.89%, 11.94% and 10.28% on prior days.

    The larger trades (>= 15K) occurred on 13 of the 44 trades, 29.55%. These 396,323 shares were 66.34% of day's volume, and traded at a VWAP of $0.0879. 4 of the larger trades, 30.77%, were buys of 101,323 shares, 25.57% of the larger trades volume, and traded at a VWAP of $0.0889. 9 of the larger trades, 69.23%, were sells of 295,000 shares, 74.43% of the larger trades volume, and traded at a VWAP of $0.0876.

    The other 31 trades, 70.45% of the day's trades, traded 201,127 shares, 33.66% of the days volume. The VWAP was $0.0880. 18 trades, 58.06%, were buys and accounted for 88,127 shares, 43.82% of the smaller trade volume, and traded at a VWAP of $0.0894. 13 trades, 41.94%, were sells and accounted for 113,000 shares, 56.18% of the smaller trade volume, and traded at a VWAP of $0.0870.

    Here's a trading breakdown by arbitrary time-frames.
    09:58-10:05: 095150 shrs, 15.93% of vol, VWAP $0.0900, 000.2% buys
    10:31-12:01: 081000 shrs, 13.56% of vol, VWAP $0.0880, 006.2% buys
    12:09-12:53: 219000 shrs, 36.66% of vol, VWAP $0.0883, 057.5% buys
    12:55-13:44: 069500 shrs, 11.63% of vol, VWAP $0.0856, 015.1% buys
    14:12-15:28: 085000 shrs, 14.23% of vol, VWAP $0.0865, 029.4% buys
    15:56-15:59: 037800 shrs, 06.33% of vol, VWAP $0.0882, 033.9% buys
    16:05-16:05: 010000 shrs, 01.67% of vol, VWAP $0.0897, 100.0% buys

    Here's a trading breakdown by arbitrary price range.
    $0.0850-$0.0854: 083000 shrs, 13.89% of vol, VWAP $0.0853, 000.0% buys
    $0.0860-$0.0861: 108500 shrs, 18.16% of vol, VWAP $0.0860, 031.8% buys
    $0.0875-$0.0876: 095000 shrs, 15.90% of vol, VWAP $0.0875, 000.0% buys
    $0.0880-$0.0880: 061000 shrs, 10.21% of vol, VWAP $0.0880, 000.0% buys
    $0.0894-$0.0899: 121800 shrs, 20.39% of vol, VWAP $0.0897, 100.0% buys
    $0.0900-$0.0900: 128150 shrs, 21.45% of vol, VWAP $0.0900, 025.9% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line. See the 8/15 EOD post for some exceptional conditions that were seen.
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%
    08/08 $0.0957 -01.48% 24.8%
    08/11 $0.1010 +05.52% 23.0%
    08/12 $0.0998 -01.21% 31.5%
    08/13 $0.1005 +00.74% 18.9%
    08/14 $0.0969 -03.56% 09.4%
    08/15 $0.0953 -01.62% 15.5%
    08/18 $0.0904 -05.18% 43.8%
    08/19 $0.0901 -00.31% 37.1%
    08/20 $0.0885 -01.75% 51.3%
    08/21 $0.0880 -00.65% 31.7%

    Here's my newer inflection point calculations. We went from all periods showing less weakening to five doing so and that continues. Volume again improved a bit, so even though they were marginal moves I think we can see this as continued improvement, i.e. "a trend to slower weakening", but not strengthening yet.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74
    -117.43 -0237.84 -0378.85 -0755.29 -01625.42 -05065.95
    -043.90 -0135.30 -0287.64 -0508.36 -01119.94 -03518.08
    -048.11 -0159.69 -0343.40 -0592.95 -01467.36 -04294.03
    -090.71 -0175.62 -0379.23 -0653.06 -01563.56 -04442.46
    -127.20 -0219.59 -0478.65 -0796.09 -02014.51 -05687.78
    -213.56 -0346.24 -0590.92 -0929.86 -02269.98 -06180.82
    -228.96 -0302.19 -0717.36 -1085.17 -02658.70 -07442.64
    -218.93 -0282.36 -0691.61 -1072.74 -02349.09 -06946.85
    -175.00 -0284.99 -0657.58 -1053.02 -02330.95 -06797.51
    -155.54 -0288.76 -0636.48 -1006.68 -02154.14 -06267.86

    "Dly Sht % of 'sells'" and inflection point changes here are omitted from the concentrator.

    On my ORIGINAL inflection point calculations, readings for 5, 10, 25, 50, 100 and 200 day periods:
    ---- 1-day change ----
    08/12 +07.6% +00.2% -01.9% -01.7% -02.2% +00.9%
    08/13 -80.3% -07.3% -08.1% -07.7% -02.8% +00.2%
    08/14 -27.9% -07.4% -06.9% -04.8% -00.8% -00.4%
    08/15 -66.8% -54.9% -21.4% -15.5% -08.3% -02.4%
    08/18 +03.9% +24.2% -05.3% -02.7% +02.5% +00.4%
    08/19 +00.8% +02.3% -01.2% -03.4% +05.4% +00.6%
    08/20 +21.0% -00.7% +03.8% +01.3% -00.3% +01.5%
    08/21 +06.9% -06.4% -02.9% -01.3% -00.3% +00.8%
    ---- 5-day change ----
    08/12 +011.4% +019.3% -134.1% +105.4% -004.2% -018.7%
    08/13 -088.0% -018.6% -498.4% -2264.7% +000.5% +001.0%
    08/14 -394.9% -015.2% -030.3% -044.6% +023.1% -040.2%
    08/15 -155.9% -263.8% -099.7% -215.4% -065.7% -119.8%
    08/18 -088.2% +028.0% -014.3% -064.9% +032.2% -132.8%
    08/19 -002.0% +008.4% +000.1% -008.2% +069.5% -020.5%
    08/20 +058.9% +019.6% +027.8% +024.7% +072.4% +080.3%
    08/21 +064.2% -002.6% +009.2% +011.8% +048.8% +397.3%
    ---- 5-day rate of change ----
    08/12 +004.5% +010.3% -066.1% +122.2% +037.4% -058.1%
    08/13 -156.3% -012.5% -204.7% -028.8% -034.4% -004.1%
    08/14 -145.5% -010.2% -054.0% -011.5% +095.4% -120.1%
    08/15 +050.5% -114.7% -085.8% -047.8% -525.0% -731.0%
    08/18 -277.2% -531.5% -115.9% -471.7% +142.7% -099.6%
    08/19 -005.2% -005.6% +019.0% -022.8% +630.4% +011.5%
    08/20 +069.5% +019.0% +059.1% +037.3% +025.0% +019.4%
    08/21 +111.8% +007.7% +043.6% +022.8% -021.1% +062.1%

    On my NEWER inflection point calculations, for those same periods:
    ---- 1-day change ----
    08/12 -009.58% -018.03% -019.39% -016.64% -031.02% -022.06%
    08/13 -088.54% -009.98% -010.43% -010.14% -006.56% -003.46%
    08/14 -040.24% -025.04% -026.21% -021.90% -028.84% -028.03%
    08/15 -067.89% -057.67% -023.46% -016.80% -012.68% -008.67%
    08/18 -007.21% +012.72% -021.40% -016.70% -017.12% -020.42%
    08/19 +004.38% +006.56% +003.59% +001.15% +011.65% +006.66%
    08/20 +020.07% -000.93% +004.92% +001.84% +000.77% +002.15%
    08/21 +011.12% -001.32% +003.21% +004.40% +007.59% +007.79%
    ---- 5-day change ----
    08/12 -024.50% -026.67% -054.43% -039.23% -052.58% -044.67%
    08/13 -074.86% -021.50% -058.03% -031.27% -034.60% -026.29%
    08/14 -263.72% -065.76% -240.01% -125.56% -174.78% -123.50%
    08/15 -102.69% -299.31% -094.92% -212.74% -053.24% -093.87%
    08/18 -092.50% -053.96% -102.63% -230.42% -138.73% -252.02%
    08/19 +007.70% +026.50% +018.97% +016.82% +042.70% +032.40%
    08/20 +050.65% +010.85% +020.06% +016.64% +012.97% +011.23%
    08/21 +066.39% +036.75% +043.30% +047.35% +081.80% +075.37%
    ---- 5-day rate of change ----
    08/12 -077.64% -041.48% -084.26% -054.86% -120.08% -089.29%
    08/13 -459.07% -015.54% -134.40% -030.46% -015.34% -073.99%
    08/14 -098.78% -073.50% -859.49% -174.07% -283.34% -2215.21%
    08/15 +030.93% -375.16% -030.41% -059.42% -011.64% -013.48%
    08/18 -123.39% -207.05% -152.06% -391.14% -143.42% -151.88%
    08/19 +015.29% +026.60% +036.20% +027.47% +048.05% +039.82%
    08/20 +060.41% +017.48% +033.24% +022.47% +023.65% +019.60%
    08/21 +116.86% +053.93% +086.23% +074.97% +121.13% +099.90%

    Rolling 5-day ORIGINAL inflection point calculation aggregate change:
    ******* ******* *5 Day** *10 Day * * 25Day ** 50 Day **100Day* 200 Day
    08/12 5 Day +0827.51 +0820.82 -0103.82 +0012.30 -1729.70 +2081.52
    08/13 5 Day +0099.38 +0668.55 -0621.32 -0266.30 -1720.20 +2102.12
    08/14 5 Day -0293.11 +0567.03 -0809.82 -0385.19 -1323.02 +1257.16
    08/15 5 Day -0750.08 -0928.87 -1617.05 -1214.79 -2192.69 -0248.59
    08/18 5 Day -1411.83 -0668.73 -1848.04 -2003.59 -1485.86 -0578.64
    08/19 5 Day -1440.10 -0612.58 -1846.32 -2168.59 -0453.68 -0697.50
    08/20 5 Day -0591.74 -0492.36 -1333.74 -1632.74 -0125.38 -0137.59
    08/21 5 Day -0211.87 -0504.97 -1211.62 -1439.65 -0064.19 +0409.06

    Average change/day, 5 days
    ____ **5 Day *10 Day *25 Day *50 Day 100 Day 200 Day
    08/12 +166.84 +372.17 +066.53 +290.65 -209.44 +196.40
    08/13 -093.96 +325.75 -069.68 +206.91 -281.39 +188.37
    08/14 -230.65 +292.64 -107.29 +183.04 -013.08 -037.85
    08/15 -114.26 -042.97 -199.37 +095.61 -081.77 -314.58
    08/18 -430.99 -271.38 -430.48 -355.34 +034.94 -627.91
    08/19 -453.52 -286.68 -348.50 -436.18 +255.20 -555.80
    08/20 -138.23 -232.18 -142.48 -273.29 +318.96 -447.94
    08/21 +016.25 -214.40 -080.36 -210.89 +251.77 -169.62

    Rolling 5-day NEWER inflection point calculation aggregate change:
    ******* ******* *5 Day** *10 Day * * 25Day ** 50 Day **100Day* 200 Day
    08/12 5 Day +0115.25 +0202.34 +0185.17 +0317.74 +0860.09 +3319.52
    08/13 5 Day +0028.97 +0158.84 +0077.71 +0218.39 +0562.50 +2446.98
    08/14 5 Day -0047.43 +0054.39 -0108.80 -0055.82 -0420.63 -0575.05
    08/15 5 Day -0096.13 -0108.40 -0212.07 -0174.57 -0644.56 -1114.86
    08/18 5 Day -0185.06 -0166.89 -0429.72 -0576.81 -1538.76 -3924.57
    08/19 5 Day -0170.82 -0122.67 -0348.21 -0479.79 -0881.73 -2652.82
    08/20 5 Day -0084.29 -0109.37 -0278.35 -0399.96 -0767.39 -2355.04
    08/21 5 Day -0028.33 -0069.17 -0157.83 -0210.59 -0139.63 -0580.08

    Average change/day, 5 days
    ____ **5 Day *10 Day *25 Day *50 Day 100 Day 200 Day
    08/12 +0006.13 +0046.84 +0015.41 +0054.53 -0055.80 +0126.22
    08/13 -0022.02 +0039.56 -0005.30 +0037.92 -0064.37 +0032.83
    08/14 -0043.77 +0010.48 -0050.87 -0028.09 -0246.74 -0694.41
    08/15 -0030.23 -0028.84 -0066.34 -0044.78 -0275.46 -0788.01
    08/18 -0067.54 -0088.56 -0167.20 -0219.93 -0670.53 -1984.87
    08/19 -0057.21 -0065.00 -0106.68 -0159.51 -0348.36 -1194.47
    08/20 -0022.65 -0053.64 -0071.21 -0123.67 -0265.98 -0960.41
    08/21 +0003.82 -0024.71 -0009.81 -0030.95 +0056.20 -0001.01

    Dly Sht % of 'sells' values JIC it turns out to be useful...
    ============ 2014 ===============
    Mon. 06/02 92.28% 106.34% 21.82% 68.00% 78.39%
    Mon. 06/09 394.94% 36.50% 20.32% 3.25% 59.37%
    Mon. 06/16 3.08% 20.04% 115.38% 123.91% 41.58%
    Mon. 06/23 1.32% 14.66% 42.12% 4.77% 0.00%
    Mon. 06/30 14.06% 35.73% 189.65% 12.10%
    Mon. 07/07 49.36% 80.69% 51.65% 0.96% 25.44%
    Mon. 07/14 710.00% 96.53% 18.18% 12.08% 148.85%
    Mon. 07/21 43.30% 27.77% 115.18% 95.82% 55.57%
    Mon. 07/28 32.52% 8.48% 2.38% 0.86% 40.17%
    Mon. 08/04 5.34% 38.72% 115.70% 3.27% 62.02%
    Mon. 08/11 1.46% 22.26% 0.97% 56.36% 14.46%
    Mon. 08/18 27.74% 13.61% 18.18% 13.97%

    ============ 2014 ===============
    Mar Avg: 85.68%, min: 16.78%, max: 335.39%
    Apr Avg: 51.85%, min: 10.59%, max: 153.62%
    May Avg: 87.09%, min: 05.48%, max: 558.01%
    Jun Avg: 60.10%, min: 00.00%, max: 394.94%
    Jul Avg: 82.38%, min: 00.86%, max: 710.00%
    Aug Avg: 28.98%, min: 00.97%, max: 115.70%

    0821 Vol 0587450, Sht 0057000 09.70% LHC 0.0850 0.0900 0.0896 b:s 1:2.15[144]
    0820 Vol 0503951, Sht 0043680 08.67% LHC 0.0830 0.0940 0.0909 b:s 1.04:1
    0819 Vol 0262106, Sht 0022328 08.52% LHC 0.0880 0.0942 0.0925 b:s 1:1.69
    0818 Vol 1619708, Sht 0249145 15.38% LHC 0.0860 0.0961 0.0942 b:s 1:1.27
    0815 Vol 1458550, Sht 0177450 12.17% LHC 0.0900 0.1079 0.0974 b:s 1:5.42
    0814 Vol 0402968, Sht 0205700 51.05% LHC 0.0960 0.1050 0.0998 b:s 1:9.60
    0813 Vol 0627170, Sht 0005000 00.80% LHC 0.0960 0.1045 0.0966 b:s 1:4.29[143]
    0812 Vol 0213943, Sht 0034130 15.95% LHC 0.0900 0.1097 0.1000 b:s 1:2.17[142]
    0811 Vol 0498964, Sht 0005617 01.13% LHC 0.0955 0.1069 0.0991 b:s 1:3.34
    0808 Vol 0336537, Sht 0156963 46.64% LHC 0.0905 0.0998 0.0960 b:s 1:3.03
    0807 Vol 0260112, Sht 0005000 01.92% LHC 0.0960 0.0998 0.0963 b:s 1:1.57
    0806 Vol 0120924, Sht 0048450 40.07% LHC 0.0880 0.0954 0.0940 b:s 1.89:1
    0805 Vol 0731659, Sht 0157826 21.57% LHC 0.0851 0.1000 0.0892 b:s 1:1.46[141]
    0804 Vol 2122199, Sht 0083000 03.91% LHC 0.0851 0.1100 0.0870 b:s 1:2.86
    0801 Vol 1072276, Sht 0174305 16.26% LHC 0.0961 0.1099 0.1000 b:s 1.47:1
    0731 Vol 0287546, Sht 0002000 00.70% LHC 0.1010 0.1069 0.1031 b:s 1:4.18
    0730 Vol 0340156, Sht 0007100 02.09% LHC 0.1000 0.1087 0.1060 b:s 1:7.22
    0729 Vol 1000682, Sht 0046100 04.61% LHC 0.1005 0.1169 0.1049 b:s 1:1.19
    0728 Vol 2101508, Sht 0475523 22.61% LHC 0.1010 0.1270 0.1049 b:s 1:2.32
    0725 Vol 1240998, Sht 0472689 38.09% LHC 0.1100 0.1329 0.1151 b:s 1:2.18[140]
    0724 Vol 0357810, Sht 0174600 48.80% LHC 0.1270 0.1349 0.1300 b:s 1:1.04
    0723 Vol 0099869, Sht 0043769 43.83% LHC 0.1300 0.1330 0.1324 b:s 1.63:1
    0722 Vol 0169923, Sht 0023323 13.73% LHC 0.1300 0.1335 0.1310 b:s 1.02:1
    0721 Vol 0546751, Sht 0155300 28.40% LHC 0.1300 0.1379 0.1301 b:s 1:1.91
    0718 Vol 0321777, Sht 0168000 52.21% LHC 0.1330 0.1398 0.1398 b:s 1.85:1
    0717 Vol 0126800, Sht 0011500 09.07% LHC 0.1193 0.1400 0.1350 b:s 1:3.01
    0716 Vol 0452300, Sht 0058457 12.92% LHC 0.1333 0.1500 0.1399 b:s 1:2.46
    0715 Vol 0078025, Sht 0036900 47.29% LHC 0.1362 0.1500 0.1400 b:s 1.04:1
    0714 Vol 0104900, Sht 0063900 60.92% LHC 0.1394 0.1441 0.1400 b:s 10.66:1
    0711 Vol 0138100, Sht 0027600 19.99% LHC 0.1390 0.1444 0.1406 b:s 1:3.67
    0710 Vol 0075100, Sht 0000600 00.80% LHC 0.1391 0.1500 0.1402 b:s 1:4.96
    0709 Vol 0336501, Sht 0110951 32.97% LHC 0.1401 0.1488 0.1488 b:s 1:1.77
    0708 Vol 0219704, Sht 0093722 42.66% LHC 0.1377 0.1600 0.1450 b:s 1:1.12
    0707 Vol 0500365, Sht 0176325 35.24% LHC 0.1350 0.1600 0.1400 b:s 1:2.50
    0703 Vol 0170436, Sht 0013640 08.00% LHC 0.1400 0.1499 0.1499 b:s 1:1.95
    0702 Vol 0073052, Sht 0037929 51.92% LHC 0.1417 0.1489 0.1450 b:s 2.65:1
    0701 Vol 0326007, Sht 0089879 27.57% LHC 0.1400 0.1600 0.1411 b:s 1:3.38

    [140] There was one after-market trade of 400K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 1,240,998 to 1,640,998 and would lower the short percentage from 38.09% to 28.80%. If the shares are also added to the short sales, the short volume moves from 472,689 to 872,689 and the short percentage would be 53.18%.
    [141] There's 10K fewer shares reported on the FINRA data than I have from ETrade Time and Sales panel and ADVFN Trades screen. I double-checked both ADVFN and ETrade Pro time and sales and can not identify the extra 10K. My assumption is it must have been a cancled trade, incorrect reported trade size, or an erroneously double-reported trade. I've adjusted for this by subtracting 5K from both the buys and sells and removed 10K from the total volume.
    [142] There was one AH trade for 10K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 213,943 to 223,943 and would lower the short percentage from 15.95% to 15.24%. If the shares are also added to the short sales, the short volume moves from 34,130 to 44,130 and the short percentage would be 19.71%.
    [143] There was one AH trade for 10K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 627,170 to 637,170 and would lower the short percentage from 00.80% to 00.78%. If the shares are also added to the short sales, the short volume moves from 5,000 to 15,000 and the short percentage would be 2.35%.
    [144] There were two AH trades for 10K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 587,450 to 597,450 and would lower the short percentage from 09.70% to 09.54%. If the shares are also added to the short sales, the short volume moves from 57,000 to 67,000 and the short percentage would be 11.21%.

    08/20/2014: EOD stuff partially copied to the concentrator.
    # Trds: 56, MinTrSz: 180, MaxTrSz: 100000, Vol: 503951, AvTrSz: 8999
    Min. Pr: 0.0830, Max Pr: 0.0940, VW Avg. Tr. Pr: 0.0885
    # Buys, Shares: 25 258694, VW Avg Buy Pr: 0.0892
    # Sells, Shares: 30 240257, VW Avg Sell Pr: 0.0877
    # Unkn, Shares: 1 5000, VW Avg Unk. Pr: 0.0940
    Buy:Sell 1.08:1 (51.33% "buys"), DlyShts 43680 (08.67%), Dly Sht % of 'sells' 18.18%

    Our painter was on the job today with two buys for $0.0909 (the best they could do today I guess) totaling 7K shares at 15:57. If those two trades, which BTW occurred sequentially as the last trades of the day, hadn't occurred our close would have been $0.0861. There were two more buys at that price totaling 7K at 15:41 and 15:47. They were wrapped in surrounding sells of $0.0861.

    I've noted sub-$0.09 VWAP seemed near. The last two days were close with VWAPs of $0.0904 and then $0.0901. Today it was $0.0885.

    On 8/15 I also said "... we have entered short-term consolidation. Short-term is the operative word here. I don't believe we'll make medium-term. I'm not saying a close below $0.09 right away, but it sure looks like that's coming soon". There but for the grace of "paint" went us ... today.

    Regardless of all that, I think there's a decent chance that for the moment the $0.085/6 potential support will hold up. It's not due to a lot of positive signs, but rather due to negative signs weakening and next week we go into the period of the month when we've traditionally seen prices stabilize and even improve slightly sometimes.

    On Monday, 8/18 I said it's going to take some low-volume days to stop this trend as high-volume days bring weakness but low volume likely wouldn't stop it immediately, but only slow the descent initially. Here we are two days later and we had two low-volume days, ~262K and ~504K, and it's hard to say if that's the case ATM. Here's VWAP percentage changes 8/13 through today, 8/20: 0.74%, -3.56%, -1.62%, -5.18%, -0.31% and -1.75%. Some of this could be hangover from the last high-volume day on 8/18. If so, that effect should begin to dissipate tomorrow as daily short sales percentage starts an up leg again. If it does, our chance of staying above $0.085x-$0.086 and, more importantly, $0.08 improves.

    Part of this improvement in chance of holding above those levels could be because we'll shortly be entering the last week of the month when some price stability, and sometimes even small improvement, is seen.

    The day's low was one of the outliers today, a sell of 4,257 shares for $0.0830 at 12:19. The next higher price was $0.0850, which was 1 sell for 10K. It was near to the next higher trades range of $0.086 which had several trades and ~37K shares traded. On the top end the day's high of $0.0940 was set by two trades, a sell and unknown, totaling 13K shares. The next two prices down, both sells, were in the first 23 seconds at $0.0925 and the $0.0917. Each was a quantity of 2K. $0.0910 had a few trades with a little volume and was in range of some decent volume seen at $0.0909.

    If I were looking for a better representation of the day's behavior I think a low of $0.085 would be OK and a high of $0.0910 would serve.

    On the traditional TA front, we had a wider spread (barely) even with the outliers discounted. We also have three consecutive days of lower highs and two of those days with lower lows. This ignores outliers which we have almost every day. Fortunately it's on substantially lower volume, compared to last Friday and Monday. Unfortunately, the lower open, close, high and low today is with increasing volume. Add in a VWAP that's fallen for the fifth consecutive day and went below $0.09 today.

    None of that suggests anything positive yet.

    With the adjusted trend lines from yesterday, the resistance today is just below ~$0.10 (~$0.099?) and the support is ~$0.0775. There is potential support from the recent intra-day lows of $0.0851 and $0.086 and if we throw out the outlier low today it looks like it might hold. We had good volume at $0.086 and above and today we still have additional hope because ...

    The 600K $0.085 bid from NITE appeared today at 12:19. Again, it was probably there all day but was masked by better bids from NITE until then. By 12:23 it was masked by better bids again. We should remember that last time we had such a situation, with ~784K aggregate in bids at a low support level IIRC, we chewed through that support in just a few days.

    Most of the oscillators I watch were "flattish" today. ADX related and full stochastic weakened a bit and momentum had a small up tick.

    The Bollinger band extremes are still widely spread and converging with the upper limit descending very quickly. Today the upper and lower limits are $0.1188 and $0.0812.

    My non-traditional stuff remains negative but the move towards less negativity continues. As with yesterday, all improvements were relatively small and all readings are still strongly negative. But with improved volume we can add a little confidence to what they suggest. IMO, just a slowing of price descent and maybe even support at that $0.085/6 level. The original calculations are also showing improvement.

    Yesterday daily short percentage dropped to 8.52% directionally in line with the buy percentage's drop to 37.12% from 43.8%. Today buy percentage rose to 51.3% and daily short percentage rose to 8.67%. This is effectively zilch. I think this is still from the two consecutive "high-volume, wide spread" days on Friday and Monday. I think these effects will be gone tomorrow, 8/21, and we should see the daily short percentage start to behave normally (i.e. choppy leg up beginning) and that should help remove some of the downward pressure.

    This would be in line with my "If volume remains low the daily short percentage should begin to recover to normal levels in a day or two and price may begin to stabilize".

    ARCA was absent today.

    Buy percentage improved as prices VWAP dropped, unlike yesterday. The sellers may be backing off, at last. From 8/7 onward the selling was 58.75%, 75.21%, 76.95%, 68.46%, 81.10%, 90.57%, 84.14%, 55.44% and 47.7% today.

    Today's low, high, VWAP, trade volume, and daily short sales moved -5.68%, -0.21%, -01.75%, 92.27% and 95.63% respectively. Price spread today was 13.25% vs. 7.05%, 11.74%, 19.89%, 9.38%, 8.85%, 21.89%, 11.94%, 10.28% and 3.96% on prior days.

    Using a low and high of $0.085 and $0.091 respectively, our ... low change would be -3.41% instead of -5.68%, the high change would be -3.40% instead of -0.21%, and the spread would be 7.06% instead of 13.25%.

    The larger trades (>= 15K) occurred on 7 of the 56 trades, 12.50%. These 274,491 shares were 54.47% of day's volume, and traded at a VWAP of $0.0879. 2 of the larger trades, 28.57%, were buys of 150,000 shares, 54.65% of the larger trades volume, and traded at a VWAP of $0.0883. 5 of the larger trades, 71.43%, were sells of 124,491 shares, 45.35% of the larger trades volume, and traded at a VWAP of $0.0874.

    The other 49 trades, 87.50% of the day's trades, traded 229,460 shares, 45.53% of the days volume. The VWAP was $0.0893. 23 trades, 46.94%, were buys and accounted for 108,694 shares, 47.37% of the smaller trade volume, and traded at a VWAP of $0.0903. 25 trades, 51.02%, were sells and accounted for 115,766 shares, 50.45% of the smaller trade volume, and traded at a VWAP of $0.0881. 1 trade, 2.04%, was unknown and accounted for 5,000 shares, 2.18% of the smaller trade volume, and traded at a VWAP of $0.0940.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-10:21: 029257 shrs, 05.81% of vol, VWAP $0.0889, 013.7% buys
    10:56-11:16: 050700 shrs, 10.06% of vol, VWAP $0.0915, 049.3% buys
    11:17-12:10: 052934 shrs, 10.50% of vol, VWAP $0.0900, 048.4% buys
    12:18-12:33: 171000 shrs, 33.93% of vol, VWAP $0.0877, 064.6% buys
    12:56-12:57: 025560 shrs, 05.07% of vol, VWAP $0.0900, 100.0% buys
    12:59-15:39: 159000 shrs, 31.55% of vol, VWAP $0.0875, 034.6% buys
    15:41-15:57: 015500 shrs, 03.08% of vol, VWAP $0.0901, 083.9% buys

    Here's a trading breakdown by arbitrary price range.
    $0.0830-$0.0830: 004257 shrs, 00.84% of vol, VWAP $0.0830, 000.0% buys
    $0.0850-$0.0861: 054243 shrs, 10.76% of vol, VWAP $0.0858, 000.0% buys
    $0.0870-$0.0884: 239257 shrs, 47.48% of vol, VWAP $0.0878, 044.1% buys
    $0.0890-$0.0909: 174194 shrs, 34.57% of vol, VWAP $0.0899, 077.0% buys
    $0.0910-$0.0917: 017000 shrs, 03.37% of vol, VWAP $0.0911, 100.0% buys
    $0.0925-$0.0925: 002000 shrs, 00.40% of vol, VWAP $0.0925, 100.0% buys
    $0.0940-$0.0940: 013000 shrs, 02.58% of vol, VWAP $0.0940, 000.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line. See the 8/15 EOD post for some exceptional conditions that were seen.
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%
    08/08 $0.0957 -01.48% 24.8%
    08/11 $0.1010 +05.52% 23.0%
    08/12 $0.0998 -01.21% 31.5%
    08/13 $0.1005 +00.74% 18.9%
    08/14 $0.0969 -03.56% 09.4%
    08/15 $0.0953 -01.62% 15.5%
    08/18 $0.0904 -05.18% 43.8%
    08/19 $0.0901 -00.31% 37.1%
    08/20 $0.0885 -01.75% 51.3%

    Here's my newer inflection point calculations. We went from all periods showing less weakening to five doing so. Volume was improved a bit, so even though they were marginal moves I think we can see this as continued improvement, i.e. "a trend to slower weakening", but not strengthening yet.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74
    -117.43 -0237.84 -0378.85 -0755.29 -01625.42 -05065.95
    -043.90 -0135.30 -0287.64 -0508.36 -01119.94 -03518.08
    -048.11 -0159.69 -0343.40 -0592.95 -01467.36 -04294.03
    -090.71 -0175.62 -0379.23 -0653.06 -01563.56 -04442.46
    -127.20 -0219.59 -0478.65 -0796.09 -02014.51 -05687.78
    -213.56 -0346.24 -0590.92 -0929.86 -02269.98 -06180.82
    -228.96 -0302.19 -0717.36 -1085.17 -02658.70 -07442.64
    -218.93 -0282.36 -0691.61 -1072.74 -02349.09 -06946.85
    -175.00 -0284.99 -0657.58 -1053.02 -02330.95 -06797.51

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/19/2014: EOD stuff partially copied to the concentrator.
    # Trds: 47, MinTrSz: 357, MaxTrSz: 20000, Vol: 262106, AvTrSz: 5577
    Min. Pr: 0.0880, Max Pr: 0.0942, VW Avg. Tr. Pr: 0.0901
    # Buys, Shares: 18 97306, VW Avg Buy Pr: 0.0913
    # Sells, Shares: 28 164100, VW Avg Sell Pr: 0.0894
    # Unkn, Shares: 1 700, VW Avg Unk. Pr: 0.0909
    Buy:Sell 1:1.69 (37.12% "buys"), DlyShts 22328 (08.52%), Dly Sht % of 'sells' 13.61%

    I've noted sub-$0.09 VWAP seemed near. Yesterday was close with a VWAP of $0.0904. Today we inched nearer with a VWAP of $0.0901.

    I opined yesterday "I think it's going to take some low-volume days to stop this trend because recently all high-volume days bring weakness". Low volume likely will not stop it immediately, but only slow the descent initially.

    On the traditional TA front, a reduced spread with a lower high and higher low on reducing volume, ~402.9K, ~1.5MM, ~1.62MM and ~262K, finally suggests that the downside is nearing its limit. Not that we're there yet, but the big push is over and now we should see any creep lower as only low-volume and incremental. The recent lows of 8/4 and 8/5 of $0.0851 and $0.086 on 8/18 might offer some support but we need to be mindful that our history is to always make new all-time lows. If that holds we will go below the 1/16/14 $0.08 intra-day low and bounce back.

    Since we seem to be repeating the many-months pattern of weakness in the middle weeks of the month, holding at or above these recent lows seems problematic. The reducing volume offers some hope though.

    From a comment I made in the concentrator: "Out [sic] painter was aggressive today, taking out 16,571 share at $0.0915 and 6,500 at the resulting "uncovered" $0.0925. Still ended down 1/8% [sic] though. The rest of the trading took some of the shares that resulted in a VWAP of $0.0901 for the day - 2.59% lower than the close". Of course, "down 1.8%" was intended.

    Ignoring the paint, today would have closed at $0.0900, again, on a 20K sell at 15:54.

    That was fortunate too because a lot of trading in the last hour, including as late as 15:50, was in the low $0.088x area.

    Regarding the descending trading channel resistance, I've adjusted both the resistance and support to better fit the price activity. Both have more touch points as a result, offering a higher level of confidence that they are valid.

    With the adjusted lines, the resistance today is ~$0.10 and the support is ~$0.078. It's important to remember that support is significant only if we make a full traversal of the channel as we complete this down leg. Right now there is potential support from the recent intra-day lows of $0.0851 and $0.086. With three touches it could be strong enough to hold but history suggests otherwise. But there's additional hope because ...

    The 600K $0.085 bid from NITE appeared today at 14:32. It was probably there all day but was masked by better bids from NITE until then. By 14:42 it was masked again. We approached it with yesterday's low of $0.086. Normally a bid this size has a lot of slightly better bids piled up above it and it takes a while to work through them. With low volume, if it continues, we might stay above $0.085x long enough for some catalyst to push price up again.

    However, last time we had such a situation, with ~784K aggregate in bids at a low support level IIRC, once we got to them we chewed through them in just three days or so. Since I don't see that much has improved, other than the recent adjustments to the allowed selling rate from the new 1:1.7 warrants exercise, I can't put a lot of faith in this $0.085 level holding all that much longer.

    Most of the oscillators I watch weakened marginally again. The ones that didn't were again MFI and momentum, which still appear mostly flat.

    The Bollinger band extremes are still widely spread and converging with the upper limit descending very quickly. Today the upper and lower limits are $0.1251 and $0.0790.

    My non-traditional stuff remains negative but the move towards improvement continues, with the newer calculations going from yesterday's four periods improved and two weakened to all periods showing reductions in weakening. All improvements were relatively small and all readings are still strongly negative. All this was on low volume so we do have to be a bit skeptical that this is anything but noise yet.

    The original version has four improved periods and two weakened.

    Yesterday I noted "... buy percentage went from 15.5% to 43.8% and daily short sales went from 12.17% to 15.38%. With a second high-volume day, albeit with reduced spread, daily short sales percentage will continue to struggle to move up at least an additional day". Today daily short percentage dropped to 8.52% directionally in line with buy percentage's drop to 37.12% from 43.8%.

    As we know, when daily short sales are moving down or at a low percentage the share price tends to fall.

    Daily short percentage continues to be choppy: 40%, 1.92%, 46.6%, 1.13%, 15.24%, 0.78%, 51.05%, 12.17%, 15.38% and 8.52% today. If volume remains low the daily short percentage should begin to recover to normal levels in a day or two and price may begin to stabilize.

    ARCA was absent today, which may have helped keep the VWAP from tanking as it did yesterday, going from $0.0953 to $0.0904 Friday to Monday. Today we only went to $0.0901.

    The only real outlier today was the $0.0942 buy at the open, the first trade of the day which matched the "painted" closing price of the prior day. $0.0925 was the next lower price and would be a high more indicative of sentiment IMO.

    Buy percentage deteriorated as prices VWAP dropped, unlike yesterday. The sellers were still in control - most likely the MMs with short-term long positions that would occur if they did a lot of covering buys on the high-volume days when we had wide spreads and lots of selling. From 8/7 onward the selling was 58.75%, 75.21%, 76.95%, 68.46%, 81.10%, 90.57%, 84.14% and 55.44%. Volume these last two days was 1458.55K and 1619.71K. The prior percentages might generate some long positions, but much smaller and with less dramatic downward pressure resulting .

    Today's low, high, VWAP, trade volume, and daily short sales moved 2.33%, -1.98%, -00.31%, -83.82% and -91.04% respectively. Price spread today was 7.05% vs. 11.74%, 19.89%, 9.38%, 8.85%, 21.89%, 11.94%, 10.28%, 3.96% and 8.77% on prior days.

    There were only two larger trades, both sells: $0.0891 17K 14:32:52 and $0.0900 20K 15:54:56.

    Here's a trading breakdown by arbitrary time-frames. The last period contains buys for $0.0915 and $0.0925 that were well above the $0.0884-$0.09 trades that preceded them in the prior period. They were obvious "painting the tape", as usual here.
    09:44-10:58: 111300 shrs, 06.87% of vol, VWAP $0.0913, 067.7% buys
    09:30-09:30: 004200 shrs, 01.60% of vol, VWAP $0.0942, 100.0% buys
    09:46-10:47: 022100 shrs, 08.43% of vol, VWAP $0.0900, 000.0% buys
    10:55-11:44: 011957 shrs, 04.56% of vol, VWAP $0.0917, 090.0% buys
    12:03-13:20: 034000 shrs, 12.97% of vol, VWAP $0.0903, 000.0% buys
    13:21-14:26: 064299 shrs, 24.53% of vol, VWAP $0.0905, 064.2% buys
    14:32-15:31: 081000 shrs, 30.90% of vol, VWAP $0.0889, 021.6% buys
    15:36-15:54: 021479 shrs, 08.19% of vol, VWAP $0.0899, 002.2% buys
    15:59-15:59: 023071 shrs, 08.80% of vol, VWAP $0.0918, 100.0% buys

    Here's a trading breakdown by arbitrary price range. The $0.0925 range were buys that were obvious "painting the tape", as usual here.
    $0.0880-$0.0892: 075500 shrs, 28.81% of vol, VWAP $0.0886, 000.0% buys
    $0.0900-$0.0919: 175906 shrs, 67.11% of vol, VWAP $0.0906, 049.2% buys
    $0.0925-$0.0925: 006500 shrs, 02.48% of vol, VWAP $0.0925, 100.0% buys
    $0.0942-$0.0942: 004200 shrs, 01.60% of vol, VWAP $0.0942, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line. See the 8/15 EOD post for some exceptional conditions that were seen.
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%
    08/08 $0.0957 -01.48% 24.8%
    08/11 $0.1010 +05.52% 23.0%
    08/12 $0.0998 -01.21% 31.5%
    08/13 $0.1005 +00.74% 18.9%
    08/14 $0.0969 -03.56% 09.4%
    08/15 $0.0953 -01.62% 15.5%
    08/18 $0.0904 -05.18% 43.8%
    08/19 $0.0901 -00.31% 37.1%

    Here's my newer inflection point calculations. A low-volume day moved us from five periods weakening, after four consecutive days of all periods weakening, to all periods showing less weakening. They were marginal moves though and, as always, low volume may make this just noise.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74
    -117.43 -0237.84 -0378.85 -0755.29 -01625.42 -05065.95
    -043.90 -0135.30 -0287.64 -0508.36 -01119.94 -03518.08
    -048.11 -0159.69 -0343.40 -0592.95 -01467.36 -04294.03
    -090.71 -0175.62 -0379.23 -0653.06 -01563.56 -04442.46
    -127.20 -0219.59 -0478.65 -0796.09 -02014.51 -05687.78
    -213.56 -0346.24 -0590.92 -0929.86 -02269.98 -06180.82
    -228.96 -0302.19 -0717.36 -1085.17 -02658.70 -07442.64
    -218.93 -0282.36 -0691.61 -1072.74 -02349.09 -06946.85

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/18/2014: EOD stuff partially copied to the concentrator.
    # Trds: 114, MinTrSz: 500, MaxTrSz: 100000, Vol: 1619708, AvTrSz: 14208
    Min. Pr: 0.0860, Max Pr: 0.0961, VW Avg. Tr. Pr: 0.0904
    # Buys, Shares: 43 709195, VW Avg Buy Pr: 0.0911
    # Sells, Shares: 69 898013, VW Avg Sell Pr: 0.0899
    # Unkn, Shares: 2 12500, VW Avg Unk. Pr: 0.0904
    Buy:Sell 1:1.27 (43.79% "buys"), DlyShts 249145 (15.38%), Dly Sht % of 'sells' 27.74%

    Yesterday, after touching on what traditional TA and my newer inflection point calculations suggested, it seemed sub-$0.09 VWAP was near. Today was close with a VWAP of $0.0904.

    Today's stuff has quite a few bearish indications going on and with volume rising for the second consecutive day on a falling low and VWAP. This a negative indication. The possible exception is the volume is high enough that it might suggest an end of the down trend. But it didn't spike higher so it's not as strong an indication of an end of trend. It "progressed", suggesting there's more downside left.

    My non-traditional stuff continues to show weakness, including average buy percentages trending lower, newer inflection point calculations still trending weaker for the fifth day, weak daily short percentages, and VWAPs trending lower for the third consecutive day.

    I think it's going to take some low-volume days to stop this trend because recently all high-volume days bring weakness.

    The 600K $0.085 bid from NITE appeared today at 12:20. We're approaching it with today's low of $0.086. 116K traded in the $0.0861 - $0.0860 range. Based on the past, when we had long-term apparent support built up to around 850K on the bids at a low price, the support this offers might hold no more than two or three days when it comes into play.

    On the traditional TA front, a lower high and low on rising volume, ~402.9K, ~1.5MM and ~1.62MM, is enough by itself to suggest nothing good this way comes.

    Someone was nice enough to paint the tape at the close with a buy of 1K shares for $0.0942 at 15:59:13. The trades just prior were in the $0.0900 - $0.0910 range after coming out of the high $0.08xx area. That closing trade prevented a close below my short-term rising support, but just barely since, AFAICT, it's ~$0.094.

    Ignoring the paint, today would have closed at $0.0900, fitting with yesterday's suggestion of a move lower when we had a penetration of the short-term rising support but closed above it at $0.0974.

    Unfortunately that close was also suspicious as a 1K buy for $0.0974 went off at 15:59:46. Trades just prior were several with good volume at $0.0903. Worse, the painter had to strike twice more to get the job done. In the midst of those low-$0.090xx trades were two more buys in the $0.097xx range: 15:58:20 5K buy for $0.0973 and 15:58:32 1.8K buy for $0.0974.

    So, I'm convinced that the real trading has had a close below the rising support on consecutive days now, confirming a break below. This suggests more downside is available. It means I'll need to adjust that support line as well to try and find a more likely stronger support. Could be tough to do.

    I mentioned the resistance of a descending trading channel was rapidly approaching our trading range, being ~$0.11 yesterday, matching a short-term top seen in the highs since 8/1 which had been challenged two times subsequent to its origin. The descending resistance, at $0.1067 AFAICT, is now below that horizontal price point of $0.11. This suggests a tough time getting any real lift-off if some upward impetus tries to develop.

    On the other end, the falling support is ~$0.0825. If we are in the midst of a down leg within that channel and it completed transversal of the channel today, that would be our target. Tomorrow would be ~$0.800.

    Most of the oscillators I watch weakened. The ones that didn't were MFI and momentum, which appear mostly flat.

    The Bollinger band extremes are still widely spread and converging with the upper limit descending very quickly. Today the upper and lower limits are $0.1298 and $0.0782.

    I had changed my "death cross" date "... to possibly Monday and certainly Tuesday". Got it today, Monday, with readings of $0.1298 and $0.1301 for the 50 and 200-day SMAs,respectively. If this has the traditional effect we should break out of consolidation very soon.

    I still don't believe we'll make the transition from short-term consolidation to medium-term. Yesterday I said "I'm not saying a close below $0.09 right away, but it sure looks like that's coming soon". That's still my best SWAG. Without the tape painting today (and yesterday) we would have closed most likely at $0.0903.

    My non-traditional stuff remains negative. My newer inflection point calculations had four consecutive days of weakening by all periods. Today five of the six went more negative, keeping the weakening tend in play. The pattern on the chart is moving strongly in the direction of forming the signal for a down move with only the 10-day period making a weak attempt to reverse. Even my original calculations' chart had all periods drooping yesterday. Today four periods improved and two weakened. Keep in mind it considers fewer factors than the newer calculations.

    Regarding daily short percentage, I noted it didn't get to stabilize before we got another high-volume wide spread day and typical behavior now is for it to again tank in a day or two and to see price weaken as it does so. But we got another high-volume day combined with an improved buy percentage. As noted in the past, the directional correlation, but not magnitude correlation, is pretty reliable between buy percentage and daily short sales percentage. Today buy percentage went from 15.5% to 43.8% and daily short sales went from 12.17% to 15.38%. with a second high-volume day, albeit with reduced spread, daily short sales percentage will continue to struggle to move up at least an additional day.

    As we know, when daily short sales are moving down or at a low percentage the share price tends to fall.

    Daily short percentage continues to be choppy: 40%, 1.92%, 46.6%, 1.13%, 15.24%, 0.78%, 51.05%, 12.17% and 15.38% today. As noted, today's volume suggests continued low percentage for an added day.

    ARCA appeared on the offer again today beginning at 10:11. In and out all day, they got the price deterioration started in earnest when they moved their offer down from their initial $0.095 to $0.0925 at 11:18. By 11:51 ARCA and CSTI were offering at $0.09. At 12:01 $0.0875 was seen. The offers struggled but did manage to improve throughout the day. Near the close $0.0942 was in place as the best offer.

    As with yesterday, there's really no way to determine an outlier status today. There were lots of potential outliers at every price above $0.092. The high of the day, $0.0961, was just one buy of 5.3K. Just below were two buys at $0.0948 totaling ~8.3k. Then were two buys at $0.0946, but you can't toss a72K trade out of consideration can you? And so it goes. If I had to discount something I'd use a high of $0.0946.

    As we've often seen in the past, buy percentage improved as prices plunged to what might be considered absurdly low levels. That didn't stop the sellers though, as can be seen from a VWAP of $0.0904 combined with a buy percentage of only 43.8%, an improvement over yesterday's 15.5%.

    Today's low, high, VWAP, trade volume, and daily short sales moved -4.44%, -10.94%, -05.18%, 11.05% and 40.40% respectively. Price spread today was 11.74% vs. 19.89%, 9.38%, 8.85%, 21.89%, 11.94%, 10.28%, 3.96%, 8.77% and 17.51% on prior days.

    The larger trades (>= 15K) occurred on 21 of the 114 trades, 18.42%. These 1,022,841 shares were 63.15% of day's volume, and traded at a VWAP of $0.0903. 9 of the larger trades, 42.86%, were buys of 490,700 shares, 47.97% of the larger trades volume, and traded at a VWAP of $0.0910. 12 of the larger trades, 57.14%, were sells of 532,141 shares, 52.03% of the larger trades volume, and traded at a VWAP of $0.0897.

    The other 93 trades, 81.58% of the day's trades, traded 596,867 shares, 36.85% of the days volume. The VWAP was $0.0905. 34 trades, 36.56%, were buys and accounted for 218,495 shares, 36.61% of the smaller trade volume, and traded at a VWAP of $0.0913. 57 trades, 61.29%, were sells and accounted for 365,872 shares, 61.30% of the smaller trade volume, and traded at a VWAP of $0.0901.

    Here's a trading breakdown by arbitrary time-frames. "Late-day weakness" began at 11:15 today. Based on volume, there was really no recovery from that condition.
    09:44-10:58: 111300 shrs, 06.87% of vol, VWAP $0.0913, 067.7% buys
    11:00-11:12: 131550 shrs, 08.12% of vol, VWAP $0.0923, 019.4% buys
    11:16-11:44: 212600 shrs, 13.13% of vol, VWAP $0.0905, 028.9% buys
    11:45-12:03: 088000 shrs, 05.43% of vol, VWAP $0.0882, 059.7% buys
    12:07-12:46: 164147 shrs, 10.13% of vol, VWAP $0.0913, 077.8% buys
    12:50-13:02: 227500 shrs, 14.05% of vol, VWAP $0.0871, 047.5% buys
    13:03-13:35: 180611 shrs, 11.15% of vol, VWAP $0.0906, 061.5% buys
    14:03-14:37: 256000 shrs, 15.81% of vol, VWAP $0.0906, 011.3% buys
    14:50-15:16: 108500 shrs, 06.70% of vol, VWAP $0.0936, 099.1% buys
    15:19-15:37: 034500 shrs, 02.13% of vol, VWAP $0.0906, 029.0% buys
    15:44-15:58: 104000 shrs, 06.42% of vol, VWAP $0.0904, 000.0% buys
    15:59-15:59: 001000 shrs, 00.06% of vol, VWAP $0.0942, 100.0% buys

    Here's a trading breakdown by arbitrary price range.
    $0.0860-$0.0875: 158500 shrs, 09.79% of vol, VWAP $0.0864, 026.8% buys
    $0.0880-$0.0899: 223300 shrs, 13.79% of vol, VWAP $0.0885, 053.5% buys
    $0.0900-$0.0915: 732913 shrs, 45.25% of vol, VWAP $0.0903, 026.9% buys
    $0.0920-$0.0939: 394400 shrs, 24.35% of vol, VWAP $0.0921, 060.7% buys
    $0.0942-$0.0948: 105295 shrs, 06.50% of vol, VWAP $0.0946, 100.0% buys
    $0.0961-$0.0961: 005300 shrs, 00.33% of vol, VWAP $0.0961, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line. See the 8/15 EOD post for some exceptional conditions that were seen.
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%
    08/08 $0.0957 -01.48% 24.8%
    08/11 $0.1010 +05.52% 23.0%
    08/12 $0.0998 -01.21% 31.5%
    08/13 $0.1005 +00.74% 18.9%
    08/14 $0.0969 -03.56% 09.4%
    08/15 $0.0953 -01.62% 15.5%
    08/18 $0.0904 -05.18% 43.8%

    Here's my newer inflection point calculations. Another high-volume day volume with five periods weakening after four consecutive days of all periods weakening continues the weakening trend.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74
    -117.43 -0237.84 -0378.85 -0755.29 -01625.42 -05065.95
    -043.90 -0135.30 -0287.64 -0508.36 -01119.94 -03518.08
    -048.11 -0159.69 -0343.40 -0592.95 -01467.36 -04294.03
    -090.71 -0175.62 -0379.23 -0653.06 -01563.56 -04442.46
    -127.20 -0219.59 -0478.65 -0796.09 -02014.51 -05687.78
    -213.56 -0346.24 -0590.92 -0929.86 -02269.98 -06180.82
    -228.96 -0302.19 -0717.36 -1085.17 -02658.70 -07442.64

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/15/2014: EOD stuff partially copied to the concentrator.
    # Trds: 98, MinTrSz: 200, MaxTrSz: 235000, Vol: 1458550, AvTrSz: 14883
    Min. Pr: 0.0900, Max Pr: 0.1079, VW Avg. Tr. Pr: 0.0953
    # Buys, Shares: 36 226377, VW Avg Buy Pr: 0.0972
    # Sells, Shares: 61 1227173, VW Avg Sell Pr: 0.0950
    # Unkn, Shares: 1 5000, VW Avg Unk. Pr: 0.0947
    Buy:Sell 1:5.42 (15.52% "buys"), DlyShts 177450 (12.17%), Dly Sht % of 'sells' 14.46%

    For me, the most important thing today is my concerns about what my newer inflection point calculations may be signaling. I won't replicate my thoughts here. But summarizing both the traditional and non-traditional TA considerations, sub-$0.09 VWAP seems to be near. The $0.09xx support held, so far, 60% longer than the $0.10 support did, so it's getting a bit long in the tooth.

    Details, for you masochists out there, are in the rest of the day's EOD postings.

    I had noted the status of "nothing changed" could be broken if any significant changes are reported in the 10-Q we expected. It was rather bland and devoid of anything earth-shattering items I guess, but the change to that status was significant, in and of itself, in my mind. Whether others saw it that way and whether it affected today's trading I can't say. There were other factors that may easily have had more effect, mentioned in a brief discussion just before the daily listing of the newer inflection point calculations. For a fast jump to there, use your browser search for "false".

    On the traditional TA front, the most significant thing, I think, is that we had a penetration of a short-term rising support, currently about $0.094. But it's really short-term and only has an origin and two prior touch points, so it's strength was not firmly established. Today made the fourth touch and we did close above it. The VWAP was also above it. So this could suggest that it will hold, but there's a lot of other negatives suggesting it won't.

    I think I mentioned a few days back that price range had moved back into the descending trading channel after having been below it a few days. I don't recall mentioning that it was more due to the slope of the channel rather than a rise in price range, although there was some of that involved too. I want to mention that the descending resistance of that channel is rapidly approaching our trading range. It's currently ~$0.11, matching a short-term top seen in the highs since 8/1 and it has been challenged two times subsequent to its origin. Our closes have not approached it during this period. With both that resistance existing and the descending channel resistance about to come into play, I see the chances for breaking above $0.10 continuing to be very low.

    More concerning than the inability to surpass $0.10 is the pressure this implies will be coming to move lower. Our low $0.09xx has already outlasted the five days support seen at $0.10 by 60%. This was after seeing lows and closes two days below $0.09. So, metaphorically it's getting long in the tooth. Add in we are in the period of the month when weakness has been seen for many months. It may be this is still in play regardless of management changes, S-1 and 10-Q filings, etc. I have no way to know.

    All the oscillators I watch, except MFI, weakened. This transition from mixed suggests that real weakness is now being seen. ADX related and accumulation and distribution continued weakening too.

    The Bollinger band extremes had a small change. They are still widely spread and the upper limit is dropping rapidly. The lower limit moved from flat to a slight rise. The upper and lower readings today are $0.1335 and $0.0781. So we are now starting the "pinch" process where the limits converge over time, leading to the "coiled spring" analogy. That situation is some time away yet.

    More pressing is the pending "death cross". I had revised my estimate of this to be middle of next week. Today I revise again to possibly Monday and certainly Tuesday. Readings today are $0.1310 and $0.1303 for the 50 and 200-day SMAs respectively.

    Yesterday I said we have entered short-term consolidation. Short-term is the operative word here. I don't believe we'll make medium-term. I'm not saying a close below $0.09 right away, but it sure looks like that's coming soon.

    My non-traditional stuff is negative regarding a push above $0.10. Worse, it's now negative regarding support at $0.09. First, my newer inflection point calculations have established a trend down with four consecutive days of weakening by all periods. The pattern on the chart is moving strongly in the direction of forming the signal for a down move. Even my original calculations' chart, which appeared to have become desensitized over time, has responded and has all periods drooping noticeably now.

    The daily short percentage was not able to stabilize in a range of normal readings before we got another high-volume wide spread day. Typical behavior now is for it to again tank in a day or two and to see price weaken as it does so.

    As mentioned above, a 300K+ bid appeared at the open for $0.107. Details of its actions and effects are below. NITE showed a bid for 360K at 15:56 for $0.0902. What an opportunist! :-) I didn't see a lot of other larger bids.

    There's really no way to determine an outlier status today - it was all outliers, from the opening 311K $0.107 bid to the late-day $0.09 trades. If it was worth it, I guess some of the lower-volume prices could be considered, but I don't see any value in that in the context of today's behavior.

    ARCA was in early to take advantage of the high bid. I commented at the time (9:48) to expect price deterioration. tinyurl.com/kpr2sme

    By 9:55 we were down to $0.1020, 10:11 $0.0974, 10:25 $0.0903, ...

    There was relatively little upward movement in either the bids or the asks throughout the day. On the ask side, most were from order completion "uncovering" higher bids and they were quickly "covered". Lower bids that were uncovered weren't covered nearly as quickly.

    At 11:26 ATDF disappeared from the market, noted in this comment. At 13:33 they were back, noted in this comment. I can't recall seeing this before in a couple of years of tracking. I'm sure it's happened, but I don't recall it. Very unusual.

    Buy percentage improved in spite of the selling frenzy seen both early and late. This is more a comment on how weak yesterday's 9.4% was rather than a comment that today's 15.5% was "stronger". For some context, through yesterday the buy percentage averages for the 10, 25, 50 and 100-days are 28.93%, 37.48%, 34.71% and 38.39% respectively.

    Daily short percentage continues to be choppy: 40%, 1.92%, 46.6%, 1.13%, 15.24%, 0.78%, 51.05% and 12.17% today. With today's high trade volume and wide price spread, daily short percentage will likely tank again in a day or two, price will tend to weaken and then a choppy daily short percentage attempt to recover to normal levels will likely appear ... unless we get some more high-volume wide-spread days.

    Today's low, high, VWAP, trade volume, and daily short sales moved -6.25%, 2.76%, -01.62%, 261.95% and -13.73% respectively. Price spread today was 19.89% vs. 9.38%, 8.85%, 21.89%, 11.94%, 10.28%, 3.96%, 8.77%, 17.51% and 29.26% on prior days.

    A note on the larger block trades: a 309.5K bid at $0.107 was entered at the open, an apparent godsend to those wishing to sell. This skewed both the VWAPs and buy percentage of the larger blocks. For a little context: 282,950 shares traded in larger blocks at the $0.107 price, 30.38% of the larger block volume. Sans the $0.107 trades the VWAP of the larger blocks would be $0.0916. The number of shares classified as sells would drop to 588,400.

    Some context at the other end seems warranted too as today was so strange.

    Some other unusually large blocks, even in the larger trades context, were seen at the opposite end of the price scale. These included 235K, 90K and I threw in some at 50K and below because of their price being in the range of the 235K. They occurred in four sells, totaled 420K, 45.10% of the larger block volume, and went for a VWAP of $0.0903.

    The larger trades (>= 15K) occurred on 18 of the 98 trades, 18.37%. These 931,350 shares were 63.85% of day's volume, and traded at a VWAP of $0.0963. 3 of the larger trades, 16.67%, were buys of 60,000 shares, 6.44% of the larger trades volume, and traded at a VWAP of $0.0982. 15 of the larger trades, 83.33%, were sells of 871,350 shares, 93.56% of the larger trades volume, and traded at a VWAP of $0.0961.

    The other 80 trades, 81.63% of the day's trades, traded 527,200 shares, 36.15% of the days volume. The VWAP was $0.0937. 33 trades, 41.25%, were buys and accounted for 166,377 shares, 31.56% of the smaller trade volume, and traded at a VWAP of $0.0969. 46 trades, 57.50%, were sells and accounted for 355,823 shares, 67.49% of the smaller trade volume, and traded at a VWAP of $0.0922. 1 trade, 1.25%, was unknown and accounted for 5,000 shares, 0.95% of the smaller trade volume, and traded at a VWAP of $0.0947.

    Here's a trading breakdown by arbitrary time-frames. "Late-day weakness" personified! But it's exacerbated by the early $0.107 bid detailed above. Note that 311K for $0.107 sells are in the first period. At the other end of the price range, 741.6K at $0.0903 or below traded in the last nine minutes of the last period, beginning at 15:52 and continuing to the close.
    09:30-09:56: 367327 shrs, 25.18% of vol, VWAP $0.1068, 015.1% buys
    10:11-10:26: 066800 shrs, 04.58% of vol, VWAP $0.0941, 000.3% buys
    10:54-11:45: 072500 shrs, 04.97% of vol, VWAP $0.0959, 089.7% buys
    11:46-12:29: 038600 shrs, 02.65% of vol, VWAP $0.0945, 035.2% buys
    12:52-13:59: 040750 shrs, 02.79% of vol, VWAP $0.0951, 048.5% buys
    14:38-15:37: 027000 shrs, 01.85% of vol, VWAP $0.0944, 063.0% buys
    15:48-15:59: 845573 shrs, 57.97% of vol, VWAP $0.0905, 006.5% buys

    Here's a trading breakdown by arbitrary price range. Note the first range includes the 741.6K trades at or below $0.0903. The last range includes the 311K for $0.107 sells.
    $0.0900-$0.0911: 810900 shrs, 55.60% of vol, VWAP $0.0903, 005.8% buys
    $0.0930-$0.0950: 137173 shrs, 09.40% of vol, VWAP $0.0935, 007.3% buys
    $0.0960-$0.0974: 143150 shrs, 09.81% of vol, VWAP $0.0966, 079.2% buys
    $0.1020-$0.1035: 027327 shrs, 01.87% of vol, VWAP $0.1029, 100.0% buys
    $0.1050-$0.1079: 340000 shrs, 23.31% of vol, VWAP $0.1071, 008.3% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line. See the 8/15 EOD post for some exceptional conditions that were seen.
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%
    08/08 $0.0957 -01.48% 24.8%
    08/11 $0.1010 +05.52% 23.0%
    08/12 $0.0998 -01.21% 31.5%
    08/13 $0.1005 +00.74% 18.9%
    08/14 $0.0969 -03.56% 09.4%
    08/15 $0.0953 -01.62% 15.5%

    Here's my newer inflection point calculations. A high-volume day with all periods weakening four consecutive days makes a trend. I believe we are now nearing a break below the $0.09 support. The newer calculations' chart pattern is forming the precursor to such a move. We have also entered the period when weakness has been seen over the last many months - the middle weeks of the month. I was/am wondering if this pattern was still in play, considering the management changes, the S-1 filing, the minimal 10-Q, ...

    Trying to find reasons this may be a false signal, I note the extreme selling induced by the appearance of the 311.6K bid at $0.107. But then I note the sell percentage, 94.2%, that also occurred at the $0.0911 and lower price levels (see the price trading breakdown). So there was apparently a predisposition to sell anyway? The last hopefully ameliorating circumstance would be the concern about the Russia and Ukraine situation going into the weekend. But I haven't noted geopolitical events affecting AXPW behavior in the past. Of course, I wasn't looking for it either.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74
    -117.43 -0237.84 -0378.85 -0755.29 -01625.42 -05065.95
    -043.90 -0135.30 -0287.64 -0508.36 -01119.94 -03518.08
    -048.11 -0159.69 -0343.40 -0592.95 -01467.36 -04294.03
    -090.71 -0175.62 -0379.23 -0653.06 -01563.56 -04442.46
    -127.20 -0219.59 -0478.65 -0796.09 -02014.51 -05687.78
    -213.56 -0346.24 -0590.92 -0929.86 -02269.98 -06180.82

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily bost above.

    08/14/2014: EOD stuff partially copied to the concentrator.
    # Trds: 35, MinTrSz: 480, MaxTrSz: 200000, Vol: 402968, AvTrSz: 11513
    Min. Pr: 0.0960, Max Pr: 0.1050, VW Avg. Tr. Pr: 0.0969
    # Buys, Shares: 9 38000, VW Avg Buy Pr: 0.0982
    # Sells, Shares: 26 364968, VW Avg Sell Pr: 0.0968
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:9.60 (09.43% "buys"), DlyShts 205700 (51.05%), Dly Sht % of 'sells' 56.36%

    My take is essentially status unchanged - going nowhere fast. Nothing supporting a break above $0.10 coming is in the cards I read. Likewise, nothing suggesting a break below $0.09 is likely.

    If any significant changes are reported in the 10-Q expected tonight, things could change.

    One trade of 200K for $0.0970 at 12:14 seriously skewed at least one of the metrics, the buy and sell percentages. Removing the trade helped, but not that much, as buy percentage would move up to 18.72%. So the notable thing about it was that it was apparently in line with the overall sentiment of the day - sell. There was no $0.097 price that was best on the bid or ask at the time, but ATDF did have a 100K bid for that price entered at 09:45, 100K for $0.0966 at 10:25 and a 100K bid for $0.096 at 11:45. All those bids were hidden as the normal ATDF 10K bids $0.0001 better than whatever best bid was in place at the time occurred. Normally I would think these were the same units with the original being canceled and reentered at lower bid prices. But with the 200K trade I'm not sure that's the case. Either way, this was apparently an internal trade or negotiated trade since no bid or ask at the price was presented at the time. The short volume suggests negotiated if we presume the short volume was related to the 200K trade.

    Another effect of the trade was to nearly double the day's volume, which would be 202,968 without that trade, very low volume.

    A third effect may have occurred in the short percentage. Note the daily short volume took a very large jump (+4014.00%) and the absolute short volume is only 5.7K above that 200K. We'll never know.

    Considering that 200K trade and what the volume would be without it, I'd be cautious about giving too much weight to both the traditional and non-traditional evaluations today.

    On the traditional TA front, the oscillators I watch continued mixed today with RSI, MFI and momentum showing small improvement and Williams %R making a large improvement. Full stochastic and ADX related continued weakening, as did accumulation and distribution, which has been weakening since 7/24.

    The Bollinger band extremes are as before - still widely spread, the lower limit flat and the upper limit going down rapidly. The upper and lower readings today are $0.1390 and $0.0768.

    Today I think we can say we have entered short-term consolidation.

    My non-traditional stuff is even more negative regarding a push above $0.10. If we remove just the largest 200K trade, average trade size is 5,970, even smaller than yesterday's 7.9K if that day's 137K trade is removed. Yesterday the average trade size over 10, 25, 50 and 100-day periods were 8913, 9,896, 8,446 and 8,335 respectively. Smaller trade sizes haven't historically pushed prices up. My newer inflection point calculation values are weakening for the third consecutive day. Daily short percentage, which was having trouble returning to normal ranges, made a big jump from 0.78% to 51.05%. This is in line with the predicted "choppy" behavior. Let's hope the next reversal finds a range more normal than the low single-digit and below readings we've been seeing.

    Only ATDF had a 100K bid today and there could have been three separate bids (see above).

    The price outliers today were a sell of 3K shares for $0.1050 at 09:38 and was +5.21% above the nearest reasonable high price with some volume of $0.0998. The next lower price of $0.1049, +5.11% above $0.998, was a buy of 1K shares.

    If I were trying to pick something within range of the day's trend with multiple trades and some volume I would I'd go with $0.0998 for the high.

    ARCA was in and out on the offer several times.

    Only NITE and ATDF were pushing the bid price up, and only after 13:30 but for a couple early in the day exceptions. This late effort was spoiled as the ask prices were pushed lower by the presence of ARCA and NITE was jumping in severely undercutting the best ask several times. This fit with the behavior earlier in the day though as asks generally weakened until the last hour of the day.

    In the non-traditional areas ...

    Buy percentage retreated again from yesterday's 18.9%. Unlike yesterday VWAP did not improve. Removing the 200K trade helped as buy percentage would move up to 18.72%, essentially flat with yesterday's 18.9%, a rotten reading regardless.

    Daily short percentage continues to be choppy: 40%, 1.92%, 46.6%, 1.13%, 15.24%, 0.78% and 51.05% today. Note the short volume of 205.7K is only slightly larger than the 200K sell.

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.00%, 0.48%, -03.56%, -36.76% and 4,014.00% respectively. Price spread today was 9.38% vs. 8.85%, 21.89%, 11.94%, 10.28%, 3.96%, 8.77%, 17.51%, 29.26% and 14.36% on prior days.

    The larger trades (>= 15K) occurred on 4 of the 35 trades, 11.43%. These 258,500 shares were 64.15% of day's volume, and traded at a VWAP of $0.0968. All were sells.

    The other 31 trades, 88.57% of the day's trades, traded 144,468 shares, 35.85% of the days volume. The VWAP was $0.0971. 9 trades, 29.03%, were buys and accounted for 38,000 shares, 26.30% of the smaller trade volume, and traded at a VWAP of $0.0982. 22 trades, 70.97%, were sells and accounted for 106,468 shares, 73.70% of the smaller trade volume, and traded at a VWAP of $0.0968.

    Here's a trading breakdown by arbitrary time-frames. Note the 200K for $0.097 trade is in the period ending at 12:24
    09:30-09:53: 028888 shrs, 07.17% of vol, VWAP $0.0975, 000.0% buys
    10:11-11:07: 032500 shrs, 08.07% of vol, VWAP $0.0966, 000.0% buys
    11:26-11:26: 010000 shrs, 02.48% of vol, VWAP $0.0998, 100.0% buys
    11:30-12:24: 308000 shrs, 76.43% of vol, VWAP $0.0967, 006.5% buys
    13:26-15:44: 022580 shrs, 05.60% of vol, VWAP $0.0979, 031.0% buys
    15:59-15:59: 001000 shrs, 00.25% of vol, VWAP $0.0998, 100.0% buys

    Here's a trading breakdown by arbitrary price range. Note the 200K for $0.097 trade is in the first range.
    $0.0960-$0.0973: 381968 shrs, 94.79% of vol, VWAP $0.0967, 005.2% buys
    $0.0980-$0.0998: 017000 shrs, 04.22% of vol, VWAP $0.0997, 100.0% buys
    $0.1049-$0.1050: 004000 shrs, 00.99% of vol, VWAP $0.1050, 025.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%
    08/08 $0.0957 -01.48% 24.8%
    08/11 $0.1010 +05.52% 23.0%
    08/12 $0.0998 -01.21% 31.5%
    08/13 $0.1005 +00.74% 18.9%
    08/14 $0.0969 -03.56% 09.4%

    Here's my newer inflection point calculations. Regardless of volume all the periods have weakened three consecutive days now. I believe it's a trend ... LoL! That will likely be broken again tomorrow, just to confound me!
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74
    -117.43 -0237.84 -0378.85 -0755.29 -01625.42 -05065.95
    -043.90 -0135.30 -0287.64 -0508.36 -01119.94 -03518.08
    -048.11 -0159.69 -0343.40 -0592.95 -01467.36 -04294.03
    -090.71 -0175.62 -0379.23 -0653.06 -01563.56 -04442.46
    -127.20 -0219.59 -0478.65 -0796.09 -02014.51 -05687.78

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/13/2014: EOD stuff partially copied to the concentrator.
    # Trds: 64, MinTrSz: 400, MaxTrSz: 137000, Vol: 637170, AvTrSz: 9956
    Min. Pr: 0.0960, Max Pr: 0.1045, VW Avg. Tr. Pr: 0.1005
    # Buys, Shares: 19 120400, VW Avg Buy Pr: 0.1023
    # Sells, Shares: 45 516770, VW Avg Sell Pr: 0.1001
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:4.29 (18.90% "buys"), DlyShts 5000 (00.78%), Dly Sht % of 'sells' 0.97%

    There was one AH trade for 10K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 627,170 to 637,170 and would lower the short percentage from 00.80% to 00.78%. If the shares are also added to the short sales, the short volume moves from 5,000 to 15,000 and the short percentage would be 2.35%.

    With volume at a decent level today, I assign more confidence to both the traditional and non-traditional evaluations today.

    I think the $0.10 resistance seems a bit less at risk in the near-term. This is mostly because the buy percentage is not able to maintain a healthy trend even with traditional TA charts reflecting the outliers and maybe some positive sentiment existing due the recent changes at Axion and the S-1 filing.

    When we get some volume combined with a very small push up in price, buy percentage seems to suffer. This tells me sellers are taking advantage of the buyers' positive sentiment to unload shares they don't want to hold. Assuming the usual situation exists that there's a lot more shares that are to be distributed than can be absorbed by the current buyers, I see nothing to push price beyond $0.10 consistently for now.

    On the traditional TA front, rising and reasonable volume combined with a close lower than the open would suggest weakness. The oscillators I watch, which had been mostly improving, went mixed today with RSI, MFI, full stochastic and ADX related weakening. Only Williams %R and momentum have a positive bent right now. Accumulation has been weakening since 7/24.

    The Bollinger band extremes are still widely spread. The lower limit has flattened at ~$0.0767 (well, down from $0.0769 - slow enough of a descent to consider it flat) while the upper limit remains in a decisive downward attitude, now going parabolic, and is down to $0.1427 from yesterday's $0.1468.

    Recall we had broke below the descending trading channel's support line and then moved back above the line. We have five consecutive closes above it, which is good, but except for the "high-priced spread" outliers the two prior days we have not been able to move out of a sideways range around the low $0.10xx to high $0.09xx range.

    In the current price range the 50-day SMA, at $0.1336, is still tracking to cross below the 200-day SMA, at $0.1305. I thought probably by Friday 8/15, but now I think the middle of next week is more likely.

    Today continues to look positive for consolidation (sideways trading) to develop.

    I'm still wondering if this is the start of weakening seen in the middle weeks of the month.

    My non-traditional stuff still doesn't support a push above $0.10. If we remove just the largest 137K trade, average trade size is 7.9K. The average trade size over 10, 25, 50 and 100-day periods are 8913, 9,896, 8,446 and 8,335 respectively. Smaller trade sizes haven't historically pushed prices up. My newer inflection point calculation values are weakening for the second consecutive day. Daily short percentage continues having trouble returning to normal ranges (0.78% today) and low daily short percentage tends to be associated with falling price.

    Only NITE had a 100K bid today. NITE also had the 600K bid at $0.085. The 100K was eventually taken after NITE moved it from $0.101 (12:56) to $0.102 (13:34). The order finished filling at 14:17.

    The price outlier today was an odd bird in that it had seven trades totaling 59K shares that had 9K in two sells and the rest in five buys for $0.1045. All occurred from 13:29 to 13:48. This price was +2.35% above the next lower price of $0.1021 (three trades 21.1K). The next lower price traded 100.4K in five trades. The $0.1045 trades were +2.45% above this price.

    If I were trying to pick something within range of the day's trend with multiple trades and some volume I would I'd go with $0.1021 for the high.

    ARCA was in and out on the offer several times.

    Buyers were chasing the price up less aggressively today than yesterday. VWAP still increased 0.74%. But the buy percentage dropped from 31.5% yesterday to 18.9%. All this occurred on volume improvement of 184.52%, mostly driven by six larger trades that accounted for 50.71% of the day's volume at a VWAP of $0.1009. The fifty-eight smaller normal trades' VWAP was $0.1001.

    In the non-traditional areas ...

    Buy percentage retreated from 31.5% while VWAP improved. Since this was on good and rising volume, the pattern of sellers coming in when volume and price rises makes me doubt any break above $0.10 on a consistent basis is near. I'm still not seeing any sign that we'd be likely to go below $0.09 in the near-term.

    Daily short percentage continues to be choppy: 40%, 1.92%, 46.6%, 1.13%, 15.24% and 0.78% today.

    Today's low, high, VWAP, trade volume, and daily short sales moved 6.67%, -4.74%, 00.74%, 184.52% and -85.35% respectively. Price spread today was 8.85% vs. 21.89%, 11.94%, 10.28%, 3.96%, 8.77%, 17.51%, 29.26%, 14.36% and 5.84% on prior days.

    The larger trades (>= 15K) occurred on 6 of the 64 trades, 9.38%. These 323,100 shares were 50.71% of day's volume, and traded at a VWAP of $0.1009. 1 of the larger trades, 16.67%, was a buy of 25,000 shares, 7.74% of the larger trades volume, and traded at a VWAP of $0.1045. 5 of the larger trades, 83.33%, were sells of 298,100 shares, 92.26% of the larger trades volume, and traded at a VWAP of $0.1006.

    The other 58 trades, 90.63% of the day's trades, traded 314,070 shares, 49.29% of the days volume. The VWAP was $0.1001. 18 trades, 31.03%, were buys and accounted for 95,400 shares, 30.38% of the smaller trade volume, and traded at a VWAP of $0.1017. 40 trades, 68.97%, were sells and accounted for 218,670 shares, 69.62% of the smaller trade volume, and traded at a VWAP of $0.0993.

    Here's a trading breakdown by arbitrary time-frames. Note the $0.1045 outliers are all in the period ending the period ending 13:48, and 14:18 includes the day's second largest trade, a sell of ~74K for $0.1020. The period ending 14:46 includes the day's largest trade, a sell of 137K for $0.1000, and third largest trade, a sell for 50K for $0.1010.
    09:45-09:47: 017300 shrs, 02.72% of vol, VWAP $0.1006, 043.4% buys
    10:27-11:33: 041700 shrs, 06.54% of vol, VWAP $0.1004, 071.7% buys
    11:34-13:03: 028400 shrs, 04.46% of vol, VWAP $0.1013, 070.4% buys
    13:29-13:48: 064000 shrs, 10.04% of vol, VWAP $0.1043, 078.1% buys
    13:53-14:18: 125500 shrs, 19.70% of vol, VWAP $0.1020, 000.0% buys
    14:19-14:46: 241500 shrs, 37.90% of vol, VWAP $0.1003, 005.4% buys
    15:07-15:55: 108770 shrs, 17.07% of vol, VWAP $0.0969, 000.0% buys
    16:00-16:00: 010000 shrs, 01.57% of vol, VWAP $0.1000, 000.0% buys

    Here's a trading breakdown by arbitrary price range. Note the $0.1000 range includes the largest and third largest trades, sells of 137K for $0.10 and 50K for $0.1010. The $0.1020 range includes the second largest trade, a sell of 74.6K for $0.1020.
    $0.0960-$0.0966: 078870 shrs, 12.38% of vol, VWAP $0.0965, 000.0% buys
    $0.0980-$0.0981: 029900 shrs, 04.69% of vol, VWAP $0.0981, 000.0% buys
    $0.1000-$0.1015: 348900 shrs, 54.76% of vol, VWAP $0.1004, 020.2% buys
    $0.1020-$0.1021: 120500 shrs, 18.91% of vol, VWAP $0.1020, 000.0% buys
    $0.1045-$0.1045: 059000 shrs, 09.26% of vol, VWAP $0.1045, 084.7% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%
    08/08 $0.0957 -01.48% 24.8%
    08/11 $0.1010 +05.52% 23.0%
    08/12 $0.0998 -01.21% 31.5%
    08/13 $0.1005 +00.74% 18.9%

    Here's my newer inflection point calculations. Yesterday volume tanked again and all periods weakened. I wondered if we might be returning to "just noise". Nope! All the periods weakened again even as volume rose substantially.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74
    -117.43 -0237.84 -0378.85 -0755.29 -01625.42 -05065.95
    -043.90 -0135.30 -0287.64 -0508.36 -01119.94 -03518.08
    -048.11 -0159.69 -0343.40 -0592.95 -01467.36 -04294.03
    -090.71 -0175.62 -0379.23 -0653.06 -01563.56 -04442.46

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/12/2014: EOD stuff partially copied to the concentrator.
    # Trds: 40, MinTrSz: 630, MaxTrSz: 25000, Vol: 223943, AvTrSz: 5599
    Min. Pr: 0.0900, Max Pr: 0.1097, VW Avg. Tr. Pr: 0.0998
    # Buys, Shares: 13 70630, VW Avg Buy Pr: 0.1017
    # Sells, Shares: 27 153313, VW Avg Sell Pr: 0.0989
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:2.17 (31.54% "buys"), DlyShts 34130 (15.24%), Dly Sht % of 'sells' 22.26%
    Although it didn't look like it because of the bid and ask behavior, today was weak. Buyers were chasing the price up and the sellers were taking advantage as best they could and volume was low. Sellers were aided and abetted by 100K bids from ETRF, CSTI, CDEL and NITE. NITE could have been the ETRF bid, which I suspect was laid off to NITE as is common with ETRF. The ETRF bid was no longer visible, but it could have been masked by a 50K $0.098 bid from ETRF.

    We also saw normal bids from BKMM but not VFIN. CDEL moved their bid of 100K for $0.099 (11:41) to $0.102 at 15:22. A couple sells may have hit that bid totaling 6K shares.

    In spite of that, VWAP marginally weakened even as buy percentage rose from yesterday's 23% to 31.5% today.

    I'm wondering if this is the start of weakening seen in the middle weeks of the month.

    Donning my TFH, I can't help but wonder if these 100K bids that mostly seem to result in nothing but "show" are just tools to move price up. Combined with a $0.09 900 share sell at the open and the single buy of 5K at $0.1097, we've got a nice wide spread on the charts, setting the stage for MMs and others to make some money.

    All combined, the $0.10 resistance seems at risk in the near-term. This is mostly because I think traditional TA charts reflect the outliers and maybe some positive sentiment exists with the recent changes at Axion and the S-1 filing. But those outliers really bother me - my TFH keeps me worrying that we are being had.

    My non-traditional stuff doesn't support a push above $0.10 though. Smaller average trade size, lower volume, weakening newer inflection point calculation values, and daily short percentage having trouble returning to normal ranges all fail to support a strong push above $0.10.

    But in all cases low volume casts tons of doubt on any TA, including my non-traditional stuff. So I assign no high confidence to either the traditional or non-traditional results I see here.

    We have outliers at both ends of the spectrum today. At the low end was a single sell of 8K for $0.09, the low of the day. The next higher prices were $0.0970 (1 sell 1K), $0.0971 (3 sells 9.4K), $0.0980 (three sells 11.8K).

    If I were trying to pick something within range of the day's trend with multiple trades and some volume I would lean towards $0.0980 as a low value.

    On the high end we saw a single buy of 5K shares for $0.1097. This was in the time-frame when bids were above $0.10 and the recent offers had been very briefly as high as $0.11. The next lower prices were $0.1049 (3 buys of 14.5K) from early in the morning (BTW, $0.1049 has been a commonly seen offer), $0.1030 (1 sell 800), $0.1020 (2 sells 6K) and then $0.10 with lots of trades and volume.

    If I were trying to pick something within range of the day's trend with multiple trades and some volume I would lean towards $0.10 as a high value.

    On the traditional TA front, volume tanked again, exiting what I would think useful, down to ~224K. So the traditional TA readings and thoughts should be taken with a grain, or even two, of salt.

    Recall we had broken below the descending trading channel's support line and then moved back above the line. We now have the fourth consecutive close above it, which is good. I wanted to see us break above and away from it and we appeared to be doing so yesterday as the low moved up and away.

    For the following keep in mind my mention of chasing the price that occurred.

    If we include the low outlier, at the open we moved back to and tested that support today, AFAICT right at $0.09. Support then manifested strongly as bids and asks immediately moved higher and the next trades were much higher at $0.1049. For the rest of the day the lowest price seen was $0.0970.

    If we discount the outliers and use my suggested low and high, $0.0980 and $0.10 respectively, we have a very narrow spread. The volume in this range is 80.04% of today's volume. The effect of TA on the charts would be different because this would give us a "spinning top" candlestick, indicating indecision, especially when combined with low volume.

    The oscillators I watch are all again out of oversold today, except MFI, and strengthening, except for MFI and ADX related. Although volume did weaken today along with VWAP, I still think we can expect no near-term push below $0.09.

    The Bollinger band extremes are still widely spread. The lower limit has flattened at ~$0.0769 while the upper limit remains in a decisive downward attitude and is at $0.1468.

    In the current price range the 50-day SMA is still tracking to cross below the 200-day SMA, probably by Friday 8/15.

    Today continues to look positive for consolidation (sideways trading) to develop.

    In the non-traditional areas ...

    Yesterday I was a bit concerned that the buy percentage dropped again but I opined it may be just that $0.10 range resistance coming into play as bids got into the high $0.09x and low $0.10x areas and at that range sellers could be expected to show up strongly.

    Buy percentage came back today to 31.5% but VWAP weakened 1.21% even so. Since this was on low volume, I'm still not seeing any sign that we'd be likely to go below $0.09 in the near-term. But neither are we likely to smartly break above $0.10 yet.

    Daily short percentage continues to be choppy: 40%, 1.92%, 46.6%, 1.13% and 15.24% today. I've mentioned a lower-trending daily short percentage has been associated with falling price. If daily short percentage can exit it's choppy state I think we'll see even further reduction of the odds for going below $0.09.

    Today's low, high, VWAP, trade volume, and daily short sales moved -5.76%, 2.62%, -01.21%, -55.12% and 507.62% respectively. Price spread today was 21.89% vs. 11.94%, 10.28%, 3.96%, 8.77%, 17.51%, 29.26%, 14.36%, 5.84% and 8.70% on prior days.

    Using $0.0980 and $0.10 for the low and high the movement for the low and high would be +2.62% instead of -5.76% for the low and -6.45% instead of +2.62% for the high. The spread would be 2.04% instead of 21.89%.

    The larger trades (>= 15K) occurred on 2 of the 40 trades, 5.00%. These 48,350 shares were 21.59% of day's volume, and traded at a VWAP of $0.0997. 1 of the larger trades, 50.00%, was a buy of 25,000 shares, 51.71% of the larger trades volume, and traded at a VWAP of $0.1000. 1 of the larger trades, 50.00%, was a sell of 23,350 shares, 48.29% of the larger trades volume, and traded at a VWAP of $0.0993.

    The other 38 trades, 95.00% of the day's trades, traded 175,593 shares, 78.41% of the days volume. The VWAP was $0.0998. 12 trades, 31.58%, were buys and accounted for 45,630 shares, 25.99% of the smaller trade volume, and traded at a VWAP of $0.1026. 26 trades, 68.42%, were sells and accounted for 129,963 shares, 74.01% of the smaller trade volume, and traded at a VWAP of $0.0988.

    Here's a trading breakdown by arbitrary time-frames. Note the last period includes the $0.1097 outlier.
    09:30-09:30: 008000 shrs, 03.57% of vol, VWAP $0.0900, 000.0% buys
    09:30-09:30: 014500 shrs, 06.47% of vol, VWAP $0.1049, 100.0% buys
    09:44-10:00: 010800 shrs, 04.82% of vol, VWAP $0.0987, 037.0% buys
    10:09-11:41: 019030 shrs, 08.50% of vol, VWAP $0.0977, 003.3% buys
    11:48-11:50: 045000 shrs, 20.09% of vol, VWAP $0.1000, 100.0% buys
    12:03-14:58: 104813 shrs, 46.80% of vol, VWAP $0.0995, 001.4% buys
    15:32-16:00: 021800 shrs, 09.73% of vol, VWAP $0.1029, 022.9% buys

    Here's a trading breakdown by arbitrary price range.
    $0.0900-$0.0900: 008000 shrs, 03.57% of vol, VWAP $0.0900, 000.0% buys
    $0.0970-$0.0999: 129143 shrs, 57.67% of vol, VWAP $0.0992, 000.5% buys
    $0.1000-$0.1020: 066500 shrs, 29.70% of vol, VWAP $0.1002, 075.9% buys
    $0.1030-$0.1049: 015300 shrs, 06.83% of vol, VWAP $0.1048, 094.8% buys
    $0.1097-$0.1097: 005000 shrs, 02.23% of vol, VWAP $0.1097, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%
    08/08 $0.0957 -01.48% 24.8%
    08/11 $0.1010 +05.52% 23.0%
    08/12 $0.0998 -01.21% 31.5%

    Here's my newer inflection point calculations. Yesterday had all periods improved, making four of the last five days showing improvement, leading me to think we might be seeing a trend established at last. Well, today volume tanked again and all periods weakened. So much for seeing a trend start. Now with falling VWAP and volume even as buy percentage tries to show an improving trend I think we're victims of the strong resistance I suggested at $0.10. We might be returning to "just noise".
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74
    -117.43 -0237.84 -0378.85 -0755.29 -01625.42 -05065.95
    -043.90 -0135.30 -0287.64 -0508.36 -01119.94 -03518.08
    -048.11 -0159.69 -0343.40 -0592.95 -01467.36 -04294.03

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/11/2014: EOD stuff partially copied to the concentrator.
    # Trds: 52, MinTrSz: 100, MaxTrSz: 85000, Vol: 498964, AvTrSz: 9595
    Min. Pr: 0.0955, Max Pr: 0.1069, VW Avg. Tr. Pr: 0.1010
    # Buys, Shares: 12 115000, VW Avg Buy Pr: 0.0999
    # Sells, Shares: 40 383964, VW Avg Sell Pr: 0.1013
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:3.34 (23.05% "buys"), DlyShts 5617 (01.13%), Dly Sht % of 'sells' 1.46%

    We had one egregious outlier today - a "fishing lure"? It was a 100 share buy at $0.169. The next lower price was $0.105 - a buy of 5K at 11:40 and a sell of 85K at 11:43. Lower price included 2 x 10K buys for $0.1049, one 15K sell for $0.1030, one sell of 3K for $0.1025, two sells for $0.1020 totaling 5.5K. We finally hit more than two trades at a price with some volume that were in range of other prices at $0.1015. I won't suggest which would be a good "real high" if we discount some of these. But I will say that $0.1069 was not a true indication of the trading profile today.

    Check the trading breakdowns by time and price below for that.

    In the larger trades breakdown note the buy/sell percentages and VWAP of the larger block buys vs. sells. These figures are supporting strong resistance at $0.10 I think.

    On the traditional TA front, volume improved again, finally getting into what I would think useful, near 500K.

    I had mentioned we had moved below my short-term descending support and then started moving up and that line would become support. I hoped not as it's descending quite rapidly - I wanted to see us break away from it. It cooperated today with both the third close above the line, currently ~$0.0915 AFAICT, and the low moved up and away today. Let's hope that continues.

    The oscillators I watch are all out of oversold today, except MFI. I thought all would get out of there when I said one more decent day should move several of them out of that condition. Some of them are barely out, but we'll take what we can get. With the improving volume, improving trading range and the oscillators improving I think we can at least look for no near-term push below $0.09.

    The Bollinger band extremes are still widely spread and in a decisive downward attitude. In the current price range the 50-day SMA is still tracking to cross below the 200-day SMA in just a few more days.

    Yesterday I took a stab and said I think some sideways consolidation for at least a few days is in the cards for now. Today looks positive for that to develop now that we've departed above that descending support line.

    I'm still mindful that we are exiting the period where we have seen some improvement in price and are entering the time when we get sags. Now is just a wait and see period.

    In the non-traditional areas ...

    This is the second day wherein buy percentage weakened. Today VWAP moved up nicely on decent volume rather than weakening as it did yesterday. Yesterday as both weakened I said no cause for alarm as buy percentage moved from 37.4% to 24.8% and VWAP dropped 1.48% from $0.0971 to $0.0957. I thought it nothing unusual during low-volume periods following high-volume periods and SEC filings falling on us like bird droppings.

    Today I am a bit concerned that the buy percentage dropped again. But it may be just that $0.10 range resistance coming into play as bids got into the high $0.09x and low $0.10x areas. At that range sellers could be expected to show up strongly.

    We didn't have as many 100K bids today - only NITE and ATDF had them. So we lost CDEL, CSTI and ETRF. On top of that, we've didn't see bids of more normal size from MMs that normally have not participated - we lost BKMM and VFIN.

    All combined, the $0.10 seems more likely to hold as stout resistance in the near-term.

    The low $0.09xx area is looking like stronger support when compared to the $0.10 area. The only thing missing was strong volume. But since 8/5, the second day with a low of $0.0851, we've had a trend of improving volume. In thousands beginning 8/5 we have: 731.66, 120.92, 260.11, 336.54 and ~498.964K.

    I've been mentioning the daily short percentage will be choppy as it moves towards a more normal reading unless volume remains low. "Choppy" manifested again: 40%, 1.92%, 46.6% and 1.13% today. Seeing it come back this low is somewhat concerning. Although directional correlation between buy percentage and short percentage is strong and magnitude correlation is weak, this big of a divergence makes me wonder if something has changed or it's just a "blip". This will bear watching as a lower-trending daily short percentage has been associated with falling price. Fortunately, for the moment at least, it's still only "choppy" and not a trend.

    Today's low, high, VWAP, trade volume, and daily short sales moved 5.52%, 7.11%, 05.52%, 48.26% and -96.42% respectively. Price spread today was 11.94% vs. 10.28%, 3.96%, 8.77%, 17.51%, 29.26%, 14.36%, 5.84%, 8.70% and 16.32% on prior days.

    The larger trades (>= 15K) occurred on 10 of the 52 trades, 19.23%. These 309,700 shares were 62.07% of day's volume, and traded at a VWAP of $0.1013. 2 of the larger trades, 20.00%, were buys of 66,000 shares, 21.31% of the larger trades volume, and traded at a VWAP of $0.0984. 8 of the larger trades, 80.00%, were sells of 243,700 shares, 78.69% of the larger trades volume, and traded at a VWAP of $0.1021.

    The other 42 trades, 80.77% of the day's trades, traded 189,264 shares, 37.93% of the days volume. The VWAP was $0.1004. 10 trades, 23.81%, were buys and accounted for 49,000 shares, 25.89% of the smaller trade volume, and traded at a VWAP of $0.1018. 32 trades, 76.19%, were sells and accounted for 140,264 shares, 74.11% of the smaller trade volume, and traded at a VWAP of $0.1000.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:52: 043147 shrs, 08.65% of vol, VWAP $0.0960, 080.9% buys
    10:01-10:31: 050700 shrs, 10.16% of vol, VWAP $0.0990, 001.4% buys
    10:32-11:03: 076800 shrs, 15.39% of vol, VWAP $0.1003, 070.7% buys
    11:28-11:43: 110000 shrs, 22.05% of vol, VWAP $0.1050, 022.7% buys
    11:47-12:04: 024600 shrs, 04.93% of vol, VWAP $0.1016, 000.4% buys
    12:38-14:52: 167217 shrs, 33.51% of vol, VWAP $0.1007, 000.0% buys
    14:53-15:55: 026500 shrs, 05.31% of vol, VWAP $0.0994, 000.0% buys

    Here's a trading breakdown by arbitrary price range.
    $0.0955-$0.0960: 043147 shrs, 08.65% of vol, VWAP $0.0960, 080.9% buys
    $0.0990-$0.1010: 273717 shrs, 54.86% of vol, VWAP $0.0999, 020.1% buys
    $0.1010-$0.1030: 072000 shrs, 14.43% of vol, VWAP $0.1018, 000.0% buys
    $0.1049-$0.1050: 110000 shrs, 22.05% of vol, VWAP $0.1050, 022.7% buys
    $0.1069-$0.1069: 000100 shrs, 00.02% of vol, VWAP $0.1069, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%
    08/08 $0.0957 -01.48% 24.8%
    08/11 $0.1010 +05.52% 23.0%

    Here's my newer inflection point calculations. Yesterday broke a trend of three days with all periods improved by posting 2 periods (10 and 200-day) marginally improved while four were marginally weaker. I said "I don't posit the trend of improvement is completely broken yet - volume needs to stabilize and/or improve to make such a determination. For now I'm thinking just normal fluctuations in an improving trend. We'll see". Today returned to all periods improved, making four of the last five days showing improvement.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74
    -117.43 -0237.84 -0378.85 -0755.29 -01625.42 -05065.95
    -043.90 -0135.30 -0287.64 -0508.36 -01119.94 -03518.08

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/08/2014: EOD stuff partially copied to the concentrator.
    # Trds: 42, MinTrSz: 500, MaxTrSz: 89530, Vol: 336537, AvTrSz: 8013
    Min. Pr: 0.0905, Max Pr: 0.0998, VW Avg. Tr. Pr: 0.0957
    # Buys, Shares: 12 83435, VW Avg Buy Pr: 0.0969
    # Sells, Shares: 30 253102, VW Avg Sell Pr: 0.0953
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:3.03 (24.79% "buys"), DlyShts 156963 (46.64%), Dly Sht % of 'sells' 62.02%

    Overall I'm getting decent positive indications - that is, no big negatives in our case - from the current behavior. The only real cautionary note at this time is we have been in, and will now exit, the periods that have shown a less weak behavior in the past - the last and first weeks of each month. With the spate of filings and announcements though I can't say whether this is a continuation of that pattern or an effect of the news. If the news flow stops I guess the next two weeks may give an indication - will we weaken or see signs of stability that has been missing in those periods in the past?

    On the traditional TA front, volume improved again, getting above "the very low end" of what I would think useful to just "the low end". This allows giving a bit more weight than yesterday to what the technical stuff suggests. We can move from no confidence at any level to cautious confidence I think.

    We had moved below my short-term descending support, bottoming at $0.0851 on 8/4 and 8/5 on two high-volume days and closed below it those two days, and 8/6 as well. But then we started moving up 8/6 and closed two days above that support, which would then have become resistance, on 8/7 and 8/8. The second close above is supposed to confirm a break above and that line would become support, although I hope not as it's descending quite rapidly - I want to see us break away from it.

    The oscillators I watch, all of which, except full stochastic, went oversold on 7/25 and just moved deeper subsequently, have begun to recover. One more decent day should move several of them out of that condition. Full stochastic went oversold 7/29, bottomed 8/4 and has now moved out of oversold. Daily high's have been consistently in the high $0.09x area and challenging the former brief support, now resistance, of $0.10. However, keep in mind these highs have been mostly "outliers" and shouldn't carry too much weight yet.

    I'd like to say that the Bollinger band suggests a move to ~$0.113 would be rational, but it's just too soon. The extremes are widely spread and both are in a decisive downward attitude. Also, the 50-day SMA will cross below the 200-day SMA in just a few more days. If there's many TA types active in AXPW we may see a flush from them. Honestly, if they are traders and awaiting that signal to flush they've really missed the boat though. That likely happened on the first high-volume day in the last week of July, Friday 7/25, when we dropped below the 200-day SMA for the second day. If they are active now it's more likely they are buying.

    The last traditional TA thing I want to mention is the indecision suggested by a "spinning top" candlestick today and 8/6. I'm going to take a stab and say I think some sideways consolidation for at least a few days is in the cards for now.

    Having said that, we need to keep in mind that we are exiting the period where in the past we have seen some improvement in price and are entering the time when we get sags. We don't know if the SEC filings have affected this behavior or they will break the pattern. So I would emphasize the "caution" more than the "confidence" right now.

    In the non-traditional areas ...

    Yesterday I noted that although buy percentage weakened, the VWAP moved up nicely and I suspected the buy percentage was due to the dregs of the two high-volume days 8/1 and 8/4. Today both weakened a bit - but no cause for alarm - as buy percentage moved from 37.4% to 24.8% and VWAP dropped 1.48% from $0.0971 to $0.0957. I think this is nothing unusual during low-volume periods following high-volume periods and SEC filings falling on us like bird droppings.

    I'm still thinking that the low $0.09xx price is likely (upgraded from "might") to give support better than $0.10 did. This is bolstered by the recent appearance, on multiple days now, of 100K orders in the range just below and ranging up to the middle of the $0.09xx area. Further these come from multiple MMs on the same days, including ATDF, CDEL, CSTI, ETRF and NITE. On top of that, we've seen some bids of more normal size from MMs that normally have not participated - BKMM and VFIN.

    Barring any negative bombshells, I'm thinking this results from the combination of a low price and apparent positive company actions suggested in the SEC filings. It's drawing some folks in believing a favorable risk/reward is developing.

    One last consideration that suggests the low $0.09xx area is likely a stronger support when compared to the $0.10 area: I had detailed in a previous day's post why I initially thought this would be the case. One additional technical consideration has materialized since then.

    I note that when we entered the low $0.10 area, 7/28-7/31, we more or less just crawled sideways in that area with little strength shown. The lows were $0.1010, $0.1005, $0.1000 and $0.1010 and then slipped consistently below $0.10. The VWAPs, already in decline, were $0.1113, $0.1051, $0.1047 and $0.1040 for the same period and continued to decline even as the lows initially held steady.

    In contrast, as we entered the low $0.09xx range the VWAP dropped below $0.10 on 8/1 (the first high-volume day, ~1,072MM shares traded), plunged to $0.0904 on the second consecutive high-volume (~2.122MM shares) day on 8/4 and price has been clawing upward since the third relatively high-volume day (~732K) of 8/5. Note we closed below $0.09 at $0.087 and $0.0892 on 8/4 and 8/5 with lows of $0.0851. VWAPs 8/1 onward: $0.0904, $0.0928, $0.0930, $0.0971 and $0.0957 and our closes have been in the mid-$0.09 area and slightly above since 8/6.

    So in contrast to the $0.10 low support, the low $0.09xx area had a penetration to the middle $0.08xx area and a strong "bounce" back up into the low and middle $0.09xx area. Now it needs to hold for an extended period. If it does so over the next traditionally weak two-week period I think the case is made.

    The only thing missing is strong volume. But since 8/5, the second day with a low of $0.0851, we've had a trend of improving volume. In thousands beginning 8/5: 731.66, 120.92, 260.11 and 336.54.

    Caveat: We do need to keep in mind that the last week and first week of each month has shown better strength than the two middle weeks though. We don't know if this pattern continues or not.

    I've been mentioning the daily short percentage will be choppy as it moves towards a more normal reading unless volume remains low. Volume, although slowly improving, is still low and "choppy" manifested as we've seen daily short percentage move from 40% to 1.92% and up to 46.6% today. I noted it wouldn't stay at that low reading though and we should see price hold up relatively well. As seen above, price is holding fairly well thus far.

    Speaking of price, the day's outliers were the two buys at the high of $0.0998 for 1K and 10K at 14:43 and 14:57. The next lower price of $0.0989 for 5K was in reach of a number of trades with volume at $0.0980 but it was a single small trade. So if one wanted to check for effects of a more representative high, the $0.098 prices would seem most reasonable.

    Today's low, high, VWAP, trade volume, and daily short sales moved -5.73%, 0.00%, -01.48%, 29.38% and 3,039.26% respectively. Price spread today was 10.28% vs. 3.96%, 8.77%, 17.51%, 29.26%, 14.36%, 5.84%, 8.70%, 16.32% and 25.74% (23.76% if $0.1250 used as high) on prior days.

    If we use $0.098 as the days high, the movement of the high is -1.80% instead of 0% and the spread becomes 8.29% instead of 10.28%.

    The larger trades (>= 15K) occurred on 2 of the 42 trades, 4.76%. These 127,864 shares were 37.99% of day's volume, and traded at a VWAP of $0.0960. Both were sells. They were also outliers in that they were 38.3K and 89.5K trades with the next largest being 14K.

    The other 40 trades, 95.24% of the day's trades, traded 208,673 shares, 62.01% of the days volume. The VWAP was $0.0955. 12 trades, 30.00%, were buys and accounted for 83,435 shares, 39.98% of the smaller trade volume, and traded at a VWAP of $0.0969. 28 trades, 70.00%, were sells and accounted for 125,238 shares, 60.02% of the smaller trade volume, and traded at a VWAP of $0.0946.

    Here's a trading breakdown by arbitrary time-frames. Note the first period contains the day's largest trade of 89.5K for $0.0952 and the last period includes the next largest, 38.3K for $0.0980.
    09:35-10:48: 145000 shrs, 43.09% of vol, VWAP $0.0952, 006.6% buys
    10:54-13:15: 022501 shrs, 06.69% of vol, VWAP $0.0909, 000.0% buys
    13:40-14:43: 038936 shrs, 11.57% of vol, VWAP $0.0953, 091.0% buys
    14:47-15:07: 029300 shrs, 08.71% of vol, VWAP $0.0973, 034.1% buys
    15:26-15:35: 020000 shrs, 05.94% of vol, VWAP $0.0956, 020.0% buys
    15:52-15:59: 080800 shrs, 24.01% of vol, VWAP $0.0976, 030.3% buys

    Here's a trading breakdown by arbitrary price range. Note the third range has the day's largest trade, 89.5K for $0.0952 and the last range includes the second largest, 38.3K for $0.098.
    $0.0905-$0.0911: 022501 shrs, 06.69% of vol, VWAP $0.0909, 000.0% buys
    $0.0935-$0.0935: 002000 shrs, 00.59% of vol, VWAP $0.0935, 000.0% buys
    $0.0941-$0.0954: 205800 shrs, 61.15% of vol, VWAP $0.0951, 019.2% buys
    $0.0960-$0.0965: 023400 shrs, 06.95% of vol, VWAP $0.0963, 000.0% buys
    $0.0980-$0.0998: 082836 shrs, 24.61% of vol, VWAP $0.0983, 053.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%
    08/08 $0.0957 -01.48% 24.8%

    Here's my newer inflection point calculations. Still a low volume day, but again improved. We had seen improvement across the board for three consecutive days. Today breaks the trend with 2 periods (10 and 200-day) marginally improved while four are marginally weaker. I don't posit the trend of improvement is completely broken yet - volume needs to stabilize and/or improve to make such a determination. For now I'm thinking just normal fluctuations in an improving trend. We'll see.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74
    -117.43 -0237.84 -0378.85 -0755.29 -01625.42 -05065.95

    "Dly Sht % of 'sells'" and inflection point changes here are are in the latest daily post above.

    08/07/2014: EOD stuff partially copied to the concentrator.
    # Trds: 42, MinTrSz: 500, MaxTrSz: 23000, Vol: 260112, AvTrSz: 6193
    Min. Pr: 0.0960, Max Pr: 0.0998, VW Avg. Tr. Pr: 0.0971
    # Buys, Shares: 11 97300, VW Avg Buy Pr: 0.0976
    # Sells, Shares: 30 152812, VW Avg Sell Pr: 0.0967
    # Unkn, Shares: 1 10000, VW Avg Unk. Pr: 0.0998
    Buy:Sell 1:1.57 (37.41% "buys"), DlyShts 5000 (01.92%), Dly Sht % of 'sells' 3.27%

    Volume improved to the very low end of what I would think useful for giving some weight to what the technical stuff suggests. But not anywhere near what's needed for confidence at any level.

    Although buy percentage weakened, the VWAP moved up nicely. I suspect the buy percentage is due to the dregs of the two high-volume days 8/1 and 8/4. Anyway, this gives some support that the low $0.09xx price might give the support better than $0.10 that I was thinking would materialize. Time, time, time to wait and wait and wait to see.

    Today is the third consecutive day that has some signs that this may work out to be stronger support. Can't say it will not let us drop, but I believe it will take longer to move decisively below $0.09 than it did to move below $0.10.

    No sign of the 600K bid today. However, we did see 100K bids from CDEL, CSTI and ETRF mixed in with the normal stuff.

    I mentioned yesterday the improvement in daily short percentage continued and ended with "Do keep in mind that the daily short percentage will be choppy as it moves towards a more normal reading unless volume remains low". Today volume doubled and the "choppy" manifested as we see a daily short percentage move from 40% to 1.92% today. It won't stay there though and as it makes its "leg up", choppy or not, we should see price hold up relatively well. All bets off if we get MM-share days.

    Let's add in that we'll be exiting what had been weak periods for a long time - the first and last week of each month. We don't know if the pattern holds because this month the 8-Ks affected everything.

    CORRECTION: "Let's add in that we'll be exiting what had been weak periods for a long time - the first and last week of each month" was 180 degrees out.

    First and last weeks of the month had displayed *less* weakness, and even some tendency to rise, and we "sagged" in the middle weeks.

    No really egregious outliers were seen today.

    Today's low, high, VWAP, trade volume, and daily short sales moved 6.55%, 1.84%, 04.41%, 115.10% and -89.68% respectively. Price spread today was 3.96% vs. 8.77%, 17.51%, 29.26%, 14.36%, 5.84%, 8.70%, 16.32% 25.74% (23.76% if $0.1250 used as high) and 20.82% on prior days.

    The larger trades (>= 15K) occurred on 4 of the 42 trades, 9.52%. These 75,001 shares were 28.83% of day's volume, and traded at a VWAP of $0.0974. 1 of the larger trades, 25.00%, was a buy of 18,500 shares, 24.67% of the larger trades volume, and traded at a VWAP of $0.0970. 3 of the larger trades, 75.00%, were sells of 56,501 shares, 75.33% of the larger trades volume, and traded at a VWAP of $0.0975.

    The other 38 trades, 90.48% of the day's trades, traded 185,111 shares, 71.17% of the days volume. The VWAP was $0.0970. 10 trades, 26.32%, were buys and accounted for 78,800 shares, 42.57% of the smaller trade volume, and traded at a VWAP of $0.0977. 27 trades, 71.05%, were sells and accounted for 96,311 shares, 52.03% of the smaller trade volume, and traded at a VWAP of $0.0962. 1 trade, 2.63%, was an unknown and accounted for 10,000 shares, 5.40% of the smaller trade volume, and traded at a VWAP of $0.0998.

    Here's a trading breakdown by arbitrary time-frames. Note the first period contains the low outlier of 600 shares at $0.0851 and the 11:08 ending period contains the 109 share $0.10 trade.
    09:43-10:48: 075601 shrs, 29.06% of vol, VWAP $0.0980, 042.3% buys
    10:55-13:16: 059600 shrs, 22.91% of vol, VWAP $0.0963, 016.8% buys
    13:31-13:34: 020000 shrs, 07.69% of vol, VWAP $0.0979, 100.0% buys
    13:37-15:30: 040520 shrs, 15.58% of vol, VWAP $0.0964, 029.1% buys
    15:38-15:38: 033500 shrs, 12.88% of vol, VWAP $0.0978, 070.1% buys
    15:41-15:53: 030891 shrs, 11.88% of vol, VWAP $0.0963, 000.0% buys

    Here's a trading breakdown by arbitrary price range.
    $0.0960-$0.0964: 113111 shrs, 43.49% of vol, VWAP $0.0962, 001.6% buys
    $0.0970-$0.0979: 085500 shrs, 32.87% of vol, VWAP $0.0975, 100.0% buys
    $0.0980-$0.0987: 051501 shrs, 19.80% of vol, VWAP $0.0981, 019.4% buys
    $0.0998-$0.0998: 010000 shrs, 03.84% of vol, VWAP $0.0998, 000.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%
    08/07 $0.0971 +04.41% 37.4%

    Here's my newer inflection point calculations. Still a low volume day again, but improved. Regardless that it makes suspect any substantive evaluation of the changes in the calculation results, it's good to see improvement across the board for the third consecutive day.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45
    -079.77 -0273.98 -0369.85 -0740.27 -01593.87 -05112.74

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/06/2014: EOD stuff partially copied to the concentrator.
    # Trds: 22, MinTrSz: 100, MaxTrSz: 40000, Vol: 120924, AvTrSz: 5497
    Min. Pr: 0.0901, Max Pr: 0.0980, VW Avg. Tr. Pr: 0.0930
    # Buys, Shares: 10 79050, VW Avg Buy Pr: 0.0937
    # Sells, Shares: 12 41874, VW Avg Sell Pr: 0.0918
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1.89:1 (65.37% "buys"), DlyShts 48450 (40.07%), Dly Sht % of 'sells' 115.70%

    The very low volume would make all traditional TA commentary end with "but the low volume suggests little weight should be given ...", so I'll leave it at that today.

    Yesterday I noted an improved buy percentage and VWAP on lower, but still quite reasonable for us, volume provided the possibility that support would materialize and hold and prove to be stronger than the $0.10 price.

    Today offers the first suggestion it might work out, but for the very low volume. That volume is unreasonable, even for us. So assessment must go on hold until either time or volume, or both, give us better clues.

    No sign of the 600K bid today.

    The improvement in daily short percentage continued, going from 3.91% to 21.57% and now 40.07%. I'm glad to see this because otherwise I would have expected VWAP to weaken rather than improve as it did. Do keep in mind that the daily short percentage will be choppy as it moves towards a more normal reading unless volume remains low.

    We had outliers at the high end of the price range today. Two trades far out of range occurred. At 15:39, 5K was bought for $0.1080, and at 15:43 700 shares sold for $0.0970. The next lower price was $0.0940 for 10K and then $0.0938, $0.0937, ... all with some volume and within a "normal" progressive range.

    If one wanted to look at some numbers with the outliers discounted, $0.0940 as the high seems appropriate.

    Today's low, high, VWAP, trade volume, and daily short sales moved 5.88%, -2.00%, 00.27%, -83.47% and -69.30% respectively. Price spread today was 8.77% vs. 17.51%, 29.26%, 14.36%, 5.84%, 8.70%, 16.32%, 25.74% (23.76% if $0.1250 used as high), 20.82% and 6.22% on prior days.

    Using $0.094 for the high, the movement of the high price would be -6.00%, rather than the reported -2.00%, and the spread for the day would be 4.33%, rather than 8.77%.

    There was only one larger trade, a 40K buy for $0.0935.

    Here's a trading breakdown by arbitrary time-frames. Note the first period contains the low outlier of 600 shares at $0.0851 and the 11:08 ending period contains the 109 share $0.10 trade.
    09:30-10:05: 013450 shrs, 11.12% of vol, VWAP $0.0937, 100.0% buys
    10:42-11:13: 053900 shrs, 44.57% of vol, VWAP $0.0932, 092.8% buys
    11:19-12:17: 018774 shrs, 15.53% of vol, VWAP $0.0907, 021.3% buys
    14:41-15:06: 018600 shrs, 15.38% of vol, VWAP $0.0923, 035.5% buys
    15:29-15:59: 016200 shrs, 13.40% of vol, VWAP $0.0953, 030.9% buys

    Here's a trading breakdown by arbitrary price range.
    $0.0901-$0.0901: 017274 shrs, 14.29% of vol, VWAP $0.0901, 000.0% buys
    $0.0910-$0.0930: 032900 shrs, 27.21% of vol, VWAP $0.0926, 057.8% buys
    $0.0935-$0.0940: 065050 shrs, 53.79% of vol, VWAP $0.0936, 084.6% buys
    $0.0970-$0.0980: 005700 shrs, 04.71% of vol, VWAP $0.0979, 087.7% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%
    08/06 $0.0930 +00.27% 65.4%

    Here's my newer inflection point calculations. A very low volume day day again makes suspect any substantive evaluation of the changes in the calculation results. Still, it's good to see improvement across the board for the second consecutive day.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20
    -119.68 -0334.46 -0456.94 -0871.46 -02126.06 -06889.45

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/05/2014: EOD stuff partially copied to the concentrator.
    # Trds: 76, MinTrSz: 109, MaxTrSz: 50000, Vol: 731659, AvTrSz: 9627
    Min. Pr: 0.0851, Max Pr: 0.1000, VW Avg. Tr. Pr: 0.0928
    # Buys, Shares: 31 275793, VW Avg Buy Pr: 0.0936
    # Sells, Shares: 42 402633, VW Avg Sell Pr: 0.0923
    # Unkn, Shares: 3 53233, VW Avg Unk. Pr: 0.0921
    Buy:Sell 1:1.46 (37.69% "buys"), DlyShts 157826 (21.57%), Dly Sht % of 'sells' 39.20%

    Yesterday the 8-K trashed the low $0.09xx support thought I have been expressing, at least for the day. Today an improved buy percentage and VWAP on lower, but still quite reasonable for us, volume provides the possibility that support will materialize and hold and prove to be stronger than the $0.10 price, in which I had little faith. Time will tell I guess.

    Yesterday I thought 600K had been taken out. Wrong! It appeared today around 11:11 via NITE as 610K.

    As buy percentage improved and the expected effects of high volume combined with low daily short percentage appeared, we had the predicted improvement in daily short percentage from 3.91% to 21.57%. I'm glad to see this because otherwise I would have expected VWAP to weaken rather than improve as it did.

    We had outliers at both ends of the price range today. At the low end was a single sell of 600 shares for $0.0851 at 9:30:06, the second trade of the day. It was -3.30% below the next higher price of $0.0880, which had several trades and some volume and was within range of the next higher trading prices. Additionally, this single sell was "bracketed by the first and third trades, two buys of 300 shares (day's first trade) and 10K shares (third trade). It was -7.50% below these two trades.

    At the high end was one 109 share buy at $0.10, 4.82% above the next lower price which was also a single buy, but of 10K at $0.0954 and within range of the next lower price of $0.1049 which had several trades and some volume.

    If one wanted to look at some numbers with these low and high outliers discounted, $0.880 for the low and $0.0954 for the high seems appropriate.

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.00%, -9.09%, 01.27%, -65.05% and 90.15% respectively. Price spread today was 17.51% vs 29.26%, 14.36%, 5.84%, 8.70%, 16.32%, 25.74% (23.76% if $0.1250 used as high), 20.82%, 6.22% and 2.31% on prior days.

    Using $0.880 and $0.0954 for the low and high respectively, the movement of the low and high prices would be 3.41% and -13.27% respectively, rather than the reported 0% and -9.09%, and the spread for the day would be 8.41%, rather than 17.51%.

    I'm still waiting for things to settle a bit. Maybe as it does we'll see some signs that price won't touch and go below our prior intra-day low, $0.08. The thought that we'd "touch and go below" yesterday was based only on how things have always behaved. Seeing an improved buy percentage and VWAP moving further above $0.09 gives hope.

    That also adds a suggestion that we could see the expected "stronger" support at the low $0.09xx range subsequent to the 8-K MDA effects on the day of it's filing. Right now that's just hopium. Seeing support in a trend with some strengthening metrics are needed to convert it to more than that.

    The larger trades (>= 15K) occurred on 10 of the 76 trades, 13.16%. These 363,000 shares were 48.94% of day's volume, and traded at a VWAP of $0.0916. 4 of the larger trades, 40.00%, were buys of 119,000 shares, 32.78% of the larger trades volume, and traded at a VWAP of $0.0915. 5 of the larger trades, 50.00%, were sells of 194,000 shares, 53.44% of the larger trades volume, and traded at a VWAP of $0.0915. 1 of the larger trades, 10.00%, was unknown, comprising 50,000 shares, 13.77% of the larger trades volume, and traded at a VWAP of $0.0920.

    The other 66 trades, 86.84% of the day's trades, traded 378,659 shares, 51.06% of the days volume. The VWAP was $0.0915. 27 trades, 40.91%, were buys and accounted for 161,793 shares, 42.73% of the smaller trade volume, and traded at a VWAP of $0.0922. 37 trades, 56.06%, were sells and accounted for 213,633 shares, 56.42% of the smaller trade volume, and traded at a VWAP of $0.0909. 2 trades, 3.03%, were unknowns and accounted for 3,233 shares, 0.85% of the smaller trade volume, and traded at a VWAP of $0.0935.

    Here's a trading breakdown by arbitrary time-frames. Note the first period contains the low outlier of 600 shares at $0.0851 and the 11:08 ending period contains the 109 share $0.10 trade.
    09:30-10:48: 123900 shrs, 16.71% of vol, VWAP $0.0919, 070.5% buys
    10:58-11:08: 020109 shrs, 02.71% of vol, VWAP $0.0949, 090.4% buys
    11:10-11:39: 091867 shrs, 12.39% of vol, VWAP $0.0920, 009.0% buys
    11:43-13:58: 096633 shrs, 13.03% of vol, VWAP $0.0922, 041.4% buys
    14:00-14:00: 216100 shrs, 29.14% of vol, VWAP $0.0914, 002.3% buys
    14:01-14:05: 042350 shrs, 05.71% of vol, VWAP $0.0887, 037.7% buys
    14:09-14:35: 095100 shrs, 12.82% of vol, VWAP $0.0915, 100.0% buys
    14:37-14:46: 019300 shrs, 02.60% of vol, VWAP $0.0901, 057.0% buys
    15:17-15:46: 036300 shrs, 04.89% of vol, VWAP $0.0902, 000.0% buys

    Here's a trading breakdown by arbitrary price range.
    $0.0851-$0.0851: 000600 shrs, 00.08% of vol, VWAP $0.0851, 000.0% buys
    $0.0880-$0.0895: 050350 shrs, 06.79% of vol, VWAP $0.0887, 031.7% buys
    $0.0900-$0.0924: 613933 shrs, 82.78% of vol, VWAP $0.0915, 035.0% buys
    $0.0925-$0.0949: 066667 shrs, 08.99% of vol, VWAP $0.0934, 059.6% buys
    $0.0954-$0.0954: 010000 shrs, 01.35% of vol, VWAP $0.0954, 100.0% buys
    $0.1000-$0.1000: 000109 shrs, 00.01% of vol, VWAP $0.1000, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%
    08/05 $0.0915 +01.27% 37.9%

    Here's my newer inflection point calculations.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86
    -169.15 -0375.41 -0548.97 -0943.54 -02455.30 -07964.20

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/04/2014: EOD stuff partially copied to the concentrator.
    # Trds: 154, MinTrSz: 7, MaxTrSz: 109555, Vol: 2122206, AvTrSz: 13781
    Min. Pr: 0.0851, Max Pr: 0.1100, VW Avg. Tr. Pr: 0.0904
    # Buys, Shares: 57 542417, VW Avg Buy Pr: 0.0907
    # Sells, Shares: 94 1553289, VW Avg Sell Pr: 0.0903
    # Unkn, Shares: 3 26500, VW Avg Unk. Pr: 0.0872
    Buy:Sell 1:2.86 (25.56% "buys"), DlyShts 83000 (03.91%), Dly Sht % of 'sells' 5.34%

    A form 8-K MDA was filed wherein we find the warrants have been upped to convert at 1.7 shares and that Tom Granville has resigned and will be consulting with the company.

    I've been saying that the low $0.09x area seems to be a potential stronger support area. The 8-K trashed that possibility, at least for the day. It's time to wait and see again for a few days.

    The 600K $0.085 seems to have been taken out today. We have a history of repeatedly making new all-time intra-day lows. I don't know if that pattern will hold with all the potential positives, but with the negatives also looming, it seems likely.

    As buy percentage dropped from yesterday's 59.5% to 25.6% today on high volume, the daily short sales percentage "leg up" that would normally be underway was interrupted. Short percentage dropped to 3.91% from the 16.25% improvement from 0.07%. Since we have high volume again, we'll see another cycle start (if the effects of the 8-K are mostly over) with an increased short percentage as soon as tomorrow, Tuesday and almost certainly by Wednesday. This will help stabilize the price for a short period.

    Another day of high volume and spread today delivers many potential outliers over a wide price range at the high end. But with the apparent 8-K effects there's little to be gained from examining the effects of discounting them. When things settle down the value of discounting them in trying to help assessment of sentiment or trends will return.

    Today's low, high, VWAP, trade volume, and daily short sales moved -11.45%, 0.09%, -09.03%, 97.91% and -52.38% respectively. Price spread today was 29.26% vs. 14.36%, 5.84%, 8.70%, 16.32%, 25.74% (23.76% if $0.1250 used as high), 20.82%, 6.22%, 2.31% and 2.69% on prior days.

    In the traditional TA area, I think waiting for things to settle a bit is prudent. The only thing I guess is that, as in the past, we'll touch and go below our prior intra-day low, $0.08. But this is based only on how things have always behaved.

    The larger trades (>= 15K) occurred on 38 of the 154 trades, 24.68%. These 1,233,073 shares were 58.10% of day's volume, and traded at a VWAP of $0.0902. 8 of the larger trades, 21.05%, were buys of 214,425 shares, 17.39% of the larger trades volume, and traded at a VWAP of $0.0902. 30 of the larger trades, 78.95%, were sells of 1,018,648 shares, 82.61% of the larger trades volume, and traded at a VWAP of $0.0991.

    The other 116 trades, 75.32% of the day's trades, traded 889,133 shares, 41.90% of the days volume. The VWAP was $0.0907. 49 trades, 42.24%, were buys and accounted for 327,992 shares, 36.89% of the smaller trade volume, and traded at a VWAP of $0.0911. 64 trades, 55.17%, were sells and accounted for 534,641 shares, 60.13% of the smaller trade volume, and traded at a VWAP of $0.0905. 3 trades, 2.59%, were unknowns and accounted for 26,500 shares, 2.98% of the smaller trade volume, and traded at a VWAP of $0.0872.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:49: 010499 shrs, 00.49% of vol, VWAP $0.1085, 100.0% buys
    10:09-10:24: 091500 shrs, 04.31% of vol, VWAP $0.0958, 010.9% buys
    10:32-10:59: 173000 shrs, 08.15% of vol, VWAP $0.0933, 005.8% buys
    11:13-11:14: 020000 shrs, 00.94% of vol, VWAP $0.0922, 000.0% buys
    11:33-11:55: 135000 shrs, 06.36% of vol, VWAP $0.0930, 005.2% buys
    12:01-12:19: 629950 shrs, 29.68% of vol, VWAP $0.0898, 012.7% buys
    12:35-12:50: 077445 shrs, 03.65% of vol, VWAP $0.0894, 087.1% buys
    13:06-13:26: 154300 shrs, 07.27% of vol, VWAP $0.0893, 046.7% buys
    13:34-13:56: 281000 shrs, 13.24% of vol, VWAP $0.0934, 033.8% buys
    14:00-14:00: 025000 shrs, 01.18% of vol, VWAP $0.0948, 100.0% buys
    14:45-14:53: 057680 shrs, 02.72% of vol, VWAP $0.0902, 004.6% buys
    15:12-15:29: 178300 shrs, 08.40% of vol, VWAP $0.0865, 020.1% buys
    15:30-15:44: 126657 shrs, 05.97% of vol, VWAP $0.0860, 077.6% buys
    15:50-15:57: 161875 shrs, 07.63% of vol, VWAP $0.0861, 017.6% buys

    Here's a trading breakdown by arbitrary price range.
    $0.0851-$0.0870: 459852 shrs, 21.67% of vol, VWAP $0.0861, 027.7% buys
    $0.0875-$0.0896: 369925 shrs, 17.43% of vol, VWAP $0.0886, 025.8% buys
    $0.0900-$0.0922: 583430 shrs, 27.49% of vol, VWAP $0.0905, 027.8% buys
    $0.0926-$0.0949: 588000 shrs, 27.71% of vol, VWAP $0.0933, 017.0% buys
    $0.0950-$0.0961: 073500 shrs, 03.46% of vol, VWAP $0.0952, 040.8% buys
    $0.0989-$0.0990: 017000 shrs, 00.80% of vol, VWAP $0.0990, 100.0% buys
    $0.1000-$0.1099: 005500 shrs, 00.26% of vol, VWAP $0.1072, 100.0% buys
    $0.1100-$0.1100: 004999 shrs, 00.24% of vol, VWAP $0.1100, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%
    08/04 $0.0904 -09.03% 25.6%

    Here's my newer inflection point calculations.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15
    -196.55 -0411.22 -0693.93 -1031.21 -02933.83 -09517.86

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    08/01/2014: EOD stuff partially copied to the concentrator.
    # Trds: 95, MinTrSz: 1, MaxTrSz: 50000, Vol: 1072327, AvTrSz: 11288
    Min. Pr: 0.0961, Max Pr: 0.1099, VW Avg. Tr. Pr: 0.0994
    # Buys, Shares: 61 638409, VW Avg Buy Pr: 0.0996
    # Sells, Shares: 34 433918, VW Avg Sell Pr: 0.0990
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1.47:1 (59.53% "buys"), DlyShts 174305 (16.25%), Dly Sht % of 'sells' 40.17%

    Yesterday's few morsels of "good news", which weren't "all that", vanished in a puff of smoke as the projected "not that strong" support at $0.10 finally apparently gave way. I didn't expect it this rapidly and with this kind of volume though. I rather envisioned an extended low-volume sag initially, as we dipped our toes into the frigid realms below $0.10, and then a volume spike as we jumped completely into those frigid waters. I guess folks decided to just "take the plunge".

    I've been saying that the low $0.09x area seems to be a potential stronger support area. The first inkling that may support that appeared today as we saw a 600K bid at $0.085 from NITE. I suspect it is a standing order - we'll have to keep an eye open to confirm that.

    What seems to happen with larger bids like that is that better bids begin to stack up just above it for a while, supporting price. The question is will that happen as time passes and will the 600K remain, be moved up or what. Parts of it could be parceled out at higher or lower prices. Last time we had this situation, what I just described occurred and eventually supporting bids moved to match the big one, giving us a total around 784K, IIRC, and once we got to that price in trading we blew through the whole quantity in just a few days and went on to new lows.

    One concern, prompted by those 600K bid thoughts, is that we have a history of repeatedly making new all-time lows. I don't know if that pattern will hold with the new factors (DDG as CEO, NS-999 nearing testing per some APC comments from Altoona works tweets, long-overdue "significant sales", ...), but it's possibility of which we need to be aware.

    One thing we need to keep in mind is that "better support" was only relative to the low $0.10 potential support. The "better support" might be relatively weak too as things have changed since the periods I used to identify the low $0.09xx support level.

    See my post of 7/25 in the prior blog for details of my thoughts about that.

    Looking at today's stuff ...

    I recently commented on the extremely low daily short sales being normal after very large volume spikes, the continuation of that behavior being normal, and generally this low trend will start to end on the third or fourth day after the latest high-volume day. So we can look for it to start to change tomorrow [Friday] or Monday.

    Well, all that is holding true: today (Friday) daily short sales "improved" from the prior 0.07% to 16.25% today, no doubt helped out by the buy percentage improvement from 19.3% to 59.5%. Every time we break below a support price level we get a jump in buy percentage, ISTM. Anyway, normally a choppy trend up would appear. This choppy one is almost certain as the high volume today will cause another severe drop in daily short sales in the next day or two. Look for some price erosion to appear, although how much is something I've not tried to quantify. I think it will be minimal from the prices prior to the short sales percentage decline again.

    Because of the high volume and spread today there are many potential outliers over a wide price range at the high end. I'll limit myself to only the most egregious of these. The high priced candidates, totaling 2.5K shares, occurred in the first 31 minutes of trading and included buys of 2K at $0.1089 and three potential "fishing lures" of 200 for $0.1079 and 2 x 100 shares for $0.1099. The first price lower, which at least had some volume (two sells totaling 35K), was priced at $0.1060, down 3.55% from $0.1099. Using that as a high might be reasonable, but really the number of trades at a given price and the volume was relatively very thin until price got down to $0.101, down 8.1% from $0.1099.

    Today's low, high, VWAP, trade volume, and daily short sales moved -4.85%, 2.81%, -04.47%, 272.92% and 8615.25% respectively. Price spread today was 14.36% vs. 5.84%, 8.70%, 16.32%, 25.74% (23.76% if $0.1250 used as high), 20.82%, 6.22%, 2.31%, 2.69% and 6.08% on prior days.

    In the traditional TA area, I mentioned all the minuscule improvements seen in the oscillators I watch dissipated. Today RSI, MFI, Williams %R and full stochastic went into oversold territory. Even worse, that was with "big", for us, volume.

    Our close was below my short-term descending support of the potential descending trading channel I've mentioned a couple times. This was the first one, of which I was certain, since the close of $0.1049 on 7/28 below it. Another close below the line would confirm a break out to the downside.

    There is a possibility that the line is offering support and a rebound could be seen, but in the current environment I expect it would be weak and short-lived at best.

    The minor bright spots mentioned, and questioned due to the daily short sales percentage being low and volume continuing to fall, were obliterated today. The outside hope was that we were in a bottoming process, but I didn't put a lot of faith in that possibility. The possibility remains, but a bit less likely now IMO.

    The Bollinger lower limit continues falling, showing $0.0969 vs. $0.1009, $0.1053, $0.1098, $0.1155 and $0.1226 on prior days. The upper limit went to flattish from ascending yesterday, as mentioned, and has now begun to drop. It's showing $0.1598 vs. $0.1608, $0.1606, $0.1596, $0.1574 and $0.1549 on prior days. This means the mid-point to which we might aspire is now moving lower as time passes.

    The 5, 10, 25 and 50-day averages for the VWAPs again all continued down. Today the averages are $0.1049, $0.1167, $0.1318 and $0.1449, down from yesterday's $0.1086, $0.1202, $0.1339 and $0.1462. The 100-day average continued falling too. Starting with Tuesday, 7/22, we have $0.1537, $0.1541, $0.1544, $0.1546, $0.1546, $0.1542, $0.1534, $0.1525 and $0.1517 today.

    The larger trades (>= 15K) occurred on 20 of the 95 trades, 21.05%. These 710,895 shares were 66.29% of day's volume, and traded at a VWAP of $0.0994. 11 of the larger trades, 55.00%, were buys of 411,605 shares, 57.90% of the larger trades volume, and traded at a VWAP of $0.0996. 9 of the larger trades, 45.00%, were sells of 299,290 shares, 42.10% of the larger trades volume, and traded at a VWAP of $0.0991.

    The other 75 trades, 78.95% of the day's trades, traded 361,432 shares, 33.71% of the days volume. The VWAP was $0.0993. 50 trades, 66.67%, were buys and accounted for 226,804 shares, 62.75% of the smaller trade volume, and traded at a VWAP of $0.0997. 25 trades, 33.33%, were sells and accounted for 134,628 shares, 37.25% of the smaller trade volume, and traded at a VWAP of $0.0988.

    Here's a trading breakdown by arbitrary time-frames. Note the period ending at 9:41 includes two sells totaling 35K shares at $0.1060. Period ending 09:42 includes 2 sells, ~45K at $0.101 and 50K at $0.10 and a buy of 20K at $0.10. Period ending 12:28 includes two 50K buys at $0.0999. Period ending 14:52 includes two sells at $0.0962 of 37.8K and 50K. Period ending 15:45 includes buys of two 50K at $0.099 and a 34.2K at $0.0998. The last period is only three buys, a 10K and two 50K, all at $0.10.
    09:30-09:41: 037501 shrs, 03.50% of vol, VWAP $0.1050, 005.3% buys
    09:42-09:42: 154949 shrs, 14.45% of vol, VWAP $0.1031, 021.3% buys
    09:44-09:51: 082605 shrs, 07.70% of vol, VWAP $0.1000, 100.0% buys
    09:54-10:11: 055822 shrs, 05.21% of vol, VWAP $0.1099, 001.1% buys
    10:18-12:28: 203650 shrs, 18.99% of vol, VWAP $0.0999, 076.4% buys
    12:30-14:52: 243500 shrs, 22.71% of vol, VWAP $0.0963, 030.9% buys
    15:08-15:45: 223300 shrs, 20.82% of vol, VWAP $0.0993, 097.8% buys
    15:53-15:57: 071000 shrs, 06.62% of vol, VWAP $0.1000, 100.0% buys

    Here's a trading breakdown by arbitrary price range. Note the first range includes three sells totaling 98.8K at $0.0962. The $0.1010 ending range includes 2 x 50K buys at $0.0990, a 34.2K buy at $0.0998, 2 x 50K buys at $0.0999, buys of 40K and 50K at $0.10 with a sell of 5K at that price, and ~50K at $0.1010.
    $0.0961-$0.0981: 271750 shrs, 25.34% of vol, VWAP $0.0968, 018.6% buys
    $0.0990-$0.1010: 741976 shrs, 69.19% of vol, VWAP $0.0998, 078.9% buys
    $0.1030-$0.1031: 012900 shrs, 01.20% of vol, VWAP $0.1031, 000.0% buys
    $0.1050-$0.1079: 043501 shrs, 04.06% of vol, VWAP $0.1058, 000.5% buys
    $0.1089-$0.1099: 002200 shrs, 00.21% of vol, VWAP $0.1090, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%
    08/01 $0.0994 -04.47% 59.5%

    Regarding my newer inflection point calculations, volume moved from falling back to a more normal, for us, levels to another "big" day. Consistent with short-term volatility, we have a second consecutive day of all periods improved. As before, until a trend becomes more stable I'm not giving these readings any real weight.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76
    -172.47 -0273.65 -0498.46 -0804.62 -02358.17 -07891.15

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    Disclosure: The author is long AXPW.

    Additional disclosure: I am very experimental and sometimes do my TA in non-traditional fashions. Keep this in mind when considering anything I post and be sure and consult other sources and do your due diligence. I'm barely responsible for myself and certainly not responsible for anyone else or their actions. :-)

    Aug 02 12:37 PM | Link | 4 Comments
  • AXPW: Intra-Day Trade & Buy:Sell Inflection Point Charting Beginning 07/01/2014

    Links to blogs older than the 01/01/2014 version, PIPE discussions, one year charts will be found only in that and older blogs. Most historical short sales related stuff has also been chopped.

    In the below chart the volume is inverted to enhance readability! Be aware when you view it!

    (right-click and open in new tab, position cursor over image to be able to zoom and scroll)

    AXPW Intra-day Statistics Chart 20140731

    Next are modified inflection point calculation charts bracketing a price chart for comparison.

    The two identically calculated inflection points are calculated differently from the original above. I have two different presentations of this newer version. The top one has all periods on the same scale. The bottom one has longer periods on the left scale and shorter periods on the right scale. The hope is that shorter period changes will be easier to spot. More work to do, this is a start, hopefully.

    Other changes I want to try are still waiting for me to work on them.

    (right-click and open in new tab, position cursor over image to be able to zoom and scroll)

    AXPW Intra-day Statistics Chart Test IP Calculations 20140731

    Older stuff for "2013 Dly Sht % of 'sells' values", Weekly 85% price summaries going back to 6/14/2012, and some day-to-day VWAP changes stuff going back to 10/09 are available in AXPW: Intra-Day Trade & Buy:Sell Inflection Point Charting Beginning 10/1/2013.

    Believing that the PIPE financing has run it's course, I'm not going to post stuff related that any more. The calculations will still be available if needed though.

    07/31/2014: EOD stuff partially copied to the concentrator.
    # Trds: 30, MinTrSz: 500, MaxTrSz: 45000, Vol: 287546, AvTrSz: 9585
    Min. Pr: 0.1010, Max Pr: 0.1069, VW Avg. Tr. Pr: 0.1040
    # Buys, Shares: 10 55500, VW Avg Buy Pr: 0.1052
    # Sells, Shares: 20 232046, VW Avg Sell Pr: 0.1037
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:4.18 (19.30% "buys"), DlyShts 2000 (00.70%), Dly Sht % of 'sells' 0.86%

    At last, some good news ... Although it's not much. Recall we had closed below my descending support for the second consecutive day, confirming a break out lower on falling, but still "big" for us, volume. Then a closing above the line yesterday was discounted by me because it was due to an outlier of $0.106 when ETRF and ATDF were fighting for bid position during the last half hour with 100K bids. I said I didn't believe it. Well, today an honest close above the line with no finagling at the end of the day.

    But it's darn close - my best guess is less than a tenth of a penny. But we have to take what we can get.

    Don't worry - I'll rain on the parade below.

    I said as long as VWAP declines I'm sticking to my belief that the $0.10x area won't be that strong a support (yet to be seen) and that low $0.09x seems to be a potential stronger support area. Today VWAP continued to decline.

    Looking at today's stuff ...

    Yesterday I commented on the extremely low daily short sales being normal after very large volume spikes and provided links to some old charts where that behavior could be seen.

    Today is a continuation of that behavior and also normal - even more so I guess when the buy percentage is down at 19% as it is today. Generally this very low daily short sales trend will start to end on the third or fourth day after the latest high-volume day. So we can look for it to start to change tomorrow or Monday.

    Meanwhile another trait of the low daily short percentages is manifest: low and/or falling VWAPs. Those trends tend to go on longer than the daily short sales trend, which is quite choppy when it starts to change.

    The potential outliers based on price today were a single $0.1069 buy of 10K shares at 11:58 and the next lower price of $0.1064, which were two buys totaling 3K shares. The next down was 20K of mixed buys and sells at $0.1063. We finally got a decent number of trades and volume at $0.1050. With today's low volume I think it's not really worth much to consider examining the effects of discounting these.

    Today's low, high, VWAP, trade volume, and daily short sales moved 1.00%, -1.66%, -00.64%, -15.48% and -71.83% respectively. Price spread today was 5.84% vs. 8.70%, 16.32%, 25.74% (23.76% if $0.1250 used as high), 20.82%, 6.22%, 2.31%, 2.69%, 6.08% and 5.11% on prior days.

    In the traditional TA area, all the minuscule improvements seen in the oscillators I watch dissipated today. Considering the low volume and other factors seen today, not surprising I guess.

    A very minor bright spot - today's low of $0.101 was a small improvement from yesterday's $0.10. But with the daily short sales where it's at and the volume continuing to fall I can't say it offers a lot of hope. The outside hope is that we are really in a bottoming process, which I mentioned was a possibility yesterday. But I didn't then, and don't now, put a lot of faith in that possibility ... at least yet. Too many things need to change before I will get a bit optimistic about that.

    Another small bright spot - we traded mostly above the falling lower Bollinger limit today, now showing $0.1009 vs. $0.1053, $0.1098, $0.1155, $0.1226 and $0.1278 on prior days. A caveat: it will keep falling for some time causing the potential mid-point, to which we might recover, to move lower as the upper limit stops its ascent, which it has begun to do already. It's beginning to roll over to "flattish" today. It's showing $0.1608 vs. $0.1606, $0.1596, $0.1574, $0.1549 and $0.1532 on prior days.

    The 5, 10, 25 and 50-day averages for the VWAPs again all continued down. Today the averages are $0.1086, $0.1202, $0.1339 and $0.1462, down from yesterday's $0.1137, $0.1233, $0.1358 and $0.1474. The 100-day average continued falling too. Starting with Friday, 7/21, we have $0.1534, $0.1537, $0.1541, $0.1544, $0.1546, $0.1546, $0.1542, $0.1534 and $0.1525 today.

    The larger trades (>= 15K) occurred on 4 of the 30 trades, 13.33%. These 137,000 shares were 47.64% of day's volume, and traded at a VWAP of $0.1041. 0 of the larger trades, 0%, were buys of 0 shares, 0% of the larger trades volume, and traded at a VWAP of $0. 4 of the larger trades, 100.00%, were sells of 137,000 shares, 100.00% of the larger trades volume, and traded at a VWAP of $0.1041.

    The other 26 trades, 86.67% of the day's trades, traded 150,546 shares, 52.36% of the days volume. The VWAP was $0.1039. 10 trades, 38.46%, were buys and accounted for 55,500 shares, 36.87% of the smaller trade volume, and traded at a VWAP of $0.1052. 16 trades, 61.54%, were sells and accounted for 95,046 shares, 63.13% of the smaller trade volume, and traded at a VWAP of $0.1032.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:41: 018000 shrs, 06.26% of vol, VWAP $0.1010, 000.0% buys
    09:51-11:23: 095546 shrs, 33.23% of vol, VWAP $0.1024, 015.7% buys
    11:44-12:13: 067000 shrs, 23.30% of vol, VWAP $0.1053, 055.2% buys
    12:42-13:12: 023500 shrs, 08.17% of vol, VWAP $0.1063, 014.9% buys
    13:56-13:56: 075000 shrs, 26.08% of vol, VWAP $0.1050, 000.0% buys
    14:13-15:12: 008500 shrs, 02.96% of vol, VWAP $0.1031, 000.0% buys

    Here's a trading breakdown by arbitrary price range.
    $0.1010-$0.1021: 098546 shrs, 34.27% of vol, VWAP $0.1019, 000.0% buys
    $0.1031-$0.1040: 023500 shrs, 08.17% of vol, VWAP $0.1037, 063.8% buys
    $0.1050-$0.1050: 132000 shrs, 45.91% of vol, VWAP $0.1050, 020.5% buys
    $0.1063-$0.1069: 033500 shrs, 11.65% of vol, VWAP $0.1065, 040.3% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%
    07/31 $0.1040 -00.64% 19.3%

    Regarding my newer inflection point calculations, volume continued falling back to a more normal, for us, range. With the lower volume comes a return to "noise", but the overall weakening trend still seems in place to me.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28
    -251.21 -0275.95 -0515.38 -0824.90 -02406.96 -08009.76

    "Dly Sht % of 'sells'" and inflection point changes here are omitted from the concentrator.

    On my ORIGINAL inflection point calculations, readings for 5, 10, 25, 50, 100 and 200 day periods:
    ---- 1-day change ----
    07/22 +00.1% +03.1% +03.5% +05.8% +01.0% +00.9%
    07/23 +65.6% +25.4% +10.7% +10.6% +01.2% +00.8%
    07/24 +50.7% +12.6% -00.7% +04.1% +01.0% +00.5%
    07/25 -1004.5% -127.0% -25.9% -06.3% +05.6% +00.2%
    07/28 -107.9% -134.6% -29.3% -29.1% -09.3% -01.0%
    07/29 -07.0% -05.5% +02.9% +05.1% +04.5% +00.0%
    07/30 -20.7% -03.9% +01.6% -07.0% -07.1% +00.1%
    07/31 -10.4% -06.4% -02.8% -03.9% +04.0% +00.8%
    ---- 5-day change ----
    07/22 -007.7% -080.6% +094.8% +1072.3% -052.9% +010.5%
    07/23 +161.4% +120.3% +2304.9% +087.3% +046.7% +011.9%
    07/24 +059.5% +058.4% -021.1% +005.4% -084.0% +002.2%
    07/25 -385.9% -140.3% -247.8% -072.0% +238.2% -040.4%
    07/28 -074.3% -635.0% -148.4% -250.6% -099.9% -054.1%
    07/29 -009.4% -009.1% +001.5% -001.3% +81951.9% -065.9%
    07/30 -048.0% -015.0% -020.0% -160.5% -226.9% -161.2%
    07/31 -014.8% -011.1% -006.5% -027.6% +068.2% +122.5%
    ---- 5-day rate of change ----
    07/22 +046.1% -1261.8% +332.6% +103.9% -17068.0% +071.9%
    07/23 +099.6% +052.2% +105.1% +1769.9% +037.6% +046.5%
    07/24 +077.6% +083.6% -022.4% -016.9% -082.0% +014.6%
    07/25 -224662.6% -1365.1% -171.4% -183.9% +024.5% -133.8%
    07/28 +017.8% -113.7% -092.4% +000.8% -005.3% -243.6%
    07/29 -009.8% +020.7% -038.4% -100.9% +074.4% -050.9%
    07/30 -096.3% -023.5% -057.5% -120.7% -276.3% -032.5%
    07/31 -018.1% -017.9% -000.3% -017.4% +079.6% +004.7%

    On my NEWER inflection point calculations, for those same periods:
    ---- 1-day change ----
    07/22 +003.26% +007.15% +005.61% +008.48% +006.41% +004.78%
    07/23 +064.88% +029.19% +013.73% +013.96% +009.21% +006.37%
    07/24 +035.65% +008.56% -001.66% +002.27% -001.27% -000.81%
    07/25 -815.94% -176.72% -049.35% -036.08% -054.84% -037.74%
    07/28 -095.52% -112.11% -030.43% -028.80% -015.77% -010.85%
    07/29 +036.43% +040.26% +039.04% +047.94% +065.77% +050.88%
    07/30 -004.36% +010.50% +011.86% +005.81% +013.16% +010.97%
    07/31 +002.91% +006.61% +008.16% +008.37% +020.05% +012.67%
    ---- 5-day change ----
    07/22 +001.54% -085.85% +081.11% +143.51% +054.50% +075.77%
    07/23 +151.43% +227.10% +450.84% +259.24% +133.38% +179.37%
    07/24 +070.72% +077.92% +007.96% +049.85% +408.46% +430.14%
    07/25 -442.17% -183.09% -341.48% -152.13% -501.45% -357.00%
    07/28 -069.50% -319.95% -088.18% -154.33% -034.33% -037.37%
    07/29 +047.81% +053.35% +093.61% +161.08% +175.20% +174.68%
    07/30 -022.91% +004.96% +009.47% -011.08% +018.79% +019.44%
    07/31 +000.41% +006.18% +020.13% +018.16% +054.03% +041.57%
    ---- 5-day rate of change ----
    07/22 +053.23% -365.32% +162.73% +105.85% +086.98% +109.24%
    07/23 +108.12% +063.77% +141.20% +883.70% +356.95% +457.04%
    07/24 -017.17% +114.64% -009.29% +007.20% +034.77% +048.66%
    07/25 -3152.81% -2536.27% -185.45% -163.07% -262.82% -186.85%
    07/28 +012.21% -107.52% -067.12% -020.11% -016.22% -034.34%
    07/29 +059.34% +061.74% +099.16% +169.43% +213.33% +212.72%
    07/30 -055.77% -003.91% -012.91% -035.80% +007.41% +011.29%
    07/31 -004.02% -003.95% +015.71% +000.24% +037.48% +020.04%

    Rolling 5-day ORIGINAL inflection point calculation aggregate change:
    ******* ******* *5 Day** *10 Day * * 25Day ** 50 Day **100Day* 200 Day
    07/22 5 Day -0193.69 +0108.72 -0015.02 +0515.34 +0838.21 +2199.16
    07/23 5 Day +0118.83 +0239.51 +0331.26 +0965.06 +1230.04 +2459.97
    07/24 5 Day +0189.52 +0379.45 +0261.34 +1016.81 +0196.57 +2513.67
    07/25 5 Day -0541.74 -0152.97 -0386.28 +0284.48 +0664.84 +1497.21
    07/28 5 Day -0944.50 -1124.36 -0959.66 -0428.42 +0000.47 +0687.32
    07/29 5 Day -1033.36 -1227.04 -0945.05 -0433.82 +0382.36 +0234.40
    07/30 5 Day -1529.37 -1410.55 -1133.66 -1130.20 -0485.34 -0143.45
    07/31 5 Day -1756.30 -1566.78 -1207.87 -1442.53 -0154.13 +0032.32

    Average change/day, 5 days
    ____ **5 Day *10 Day *25 Day *50 Day 100 Day 200 Day
    07/22 -099.22 -137.71 +061.45 +007.30 -394.03 +133.69
    07/23 -000.37 -065.79 +126.05 +136.59 -246.02 +195.87
    07/24 -000.08 -010.76 +097.87 +113.54 -447.76 +224.49
    07/25 -186.10 -157.70 -069.85 -095.28 -338.03 -075.80
    07/28 -152.93 -337.01 -134.40 -094.48 -355.83 -260.48
    07/29 -167.93 -267.15 -186.00 -189.83 -091.17 -392.95
    07/30 -329.64 -330.01 -292.98 -419.05 -343.07 -520.68
    07/31 -389.16 -389.25 -293.84 -491.87 -070.14 -496.27

    Rolling 5-day NEWER inflection point calculation aggregate change:
    ******* ******* *5 Day** *10 Day * * 25Day ** 50 Day **100Day* 200 Day
    07/22 5 Day -0031.02 +0010.13 -0013.48 +0034.42 -0129.04 -0175.83
    07/23 5 Day +0015.95 +0033.12 +0047.28 +0123.65 +0043.08 +0139.55
    07/24 5 Day +0027.23 +0058.93 +0051.05 +0185.28 +0219.02 +0739.81
    07/25 5 Day -0093.17 -0048.97 -0123.27 -0096.59 -0879.25 -1901.35
    07/28 5 Day -0157.93 -0205.63 -0231.97 -0245.65 -1181.08 -2611.90
    07/29 5 Day -0082.43 -0095.93 -0014.83 +0150.06 +0888.15 +1950.56
    07/30 5 Day -0240.35 -0242.01 -0252.78 -0345.61 -1160.46 -2918.16
    07/31 5 Day -0239.37 -0227.07 -0201.89 -0282.86 -0533.48 -1705.12

    Average change/day, 5 days
    ____ **5 Day *10 Day *25 Day *50 Day 100 Day 200 Day
    07/22 -0014.03 -0020.67 +0010.28 +0004.17 -0027.39 +0039.05
    07/23 +0001.14 -0007.49 +0024.80 +0041.02 +0070.39 +0217.50
    07/24 +0000.94 +0001.10 +0022.50 +0043.97 +0094.86 +0323.35
    07/25 -0028.80 -0026.71 -0019.22 -0027.73 -0154.45 -0280.84
    07/28 -0025.28 -0055.43 -0032.13 -0033.31 -0179.50 -0377.28
    07/29 -0010.28 -0021.21 -0000.27 +0023.13 +0203.44 +0425.28
    07/30 -0051.26 -0055.03 -0060.01 -0093.85 -0240.71 -0611.54
    07/31 -0053.32 -0057.20 -0050.59 -0093.63 -0150.50 -0488.99

    Dly Sht % of 'sells' values JIC it turns out to be useful...
    ============ 2014 ===============
    Mon. 04/28 19.56% 75.57% 10.59% 53.35% 146.92%
    Mon. 05/05 06.75% 17.36% 25.05% 91.05% 26.31%
    Mon. 05/12 8.83% 5.83% 55.91% 129.18% 43.96%
    Mon. 05/19 114.88% 62.66% 16.13% 113.62% 202.40%
    Tue. 05/27 558.01% 82.58% 62.65% 5.48%
    Mon. 06/02 92.28% 106.34% 21.82% 68.00% 78.39%
    Mon. 06/09 394.94% 36.50% 20.32% 3.25% 59.37%
    Mon. 06/16 3.08% 20.04% 115.38% 123.91% 41.58%
    Mon. 06/23 1.32% 14.66% 42.12% 4.77% 0.00%
    Mon. 06/30 14.06% 35.73% 189.65% 12.10%
    Mon. 07/07 49.36% 80.69% 51.65% 0.96% 25.44%
    Mon. 07/14 710.00% 96.53% 18.18% 12.08% 148.85%
    Mon. 07/21 43.30% 27.77% 115.18% 95.82% 55.57%
    Mon. 07/28 32.52% 8.48% 2.38% 0.86%

    ============ 2014 ===============
    Jan Avg: 54.66%, min: 09.32%, max: 130.29%
    Feb Avg: 50.44%, min: 00.28%, max: 112.52%
    Mar Avg: 85.68%, min: 16.78%, max: 335.39%
    Apr Avg: 51.85%, min: 10.59%, max: 153.62%
    May Avg: 87.09%, min: 05.48%, max: 558.01%
    Jun Avg: 60.10%, min: 00.00%, max: 394.94%
    Jul Avg: 82.38%, min: 00.86%, max: 710.00%

    0731 Vol 0287546, Sht 0002000 00.70% LHC 0.1010 0.1069 0.1031 b:s 1:4.18
    0730 Vol 0340156, Sht 0007100 02.09% LHC 0.1000 0.1087 0.1060 b:s 1:7.22
    0729 Vol 1000682, Sht 0046100 04.61% LHC 0.1005 0.1169 0.1049 b:s 1:1.19
    0728 Vol 2101508, Sht 0475523 22.61% LHC 0.1010 0.1270 0.1049 b:s 1:2.32
    0725 Vol 1240998, Sht 0472689 38.09% LHC 0.1100 0.1329 0.1151 b:s 1:2.18[140]
    0724 Vol 0357810, Sht 0174600 48.80% LHC 0.1270 0.1349 0.1300 b:s 1:1.04
    0723 Vol 0099869, Sht 0043769 43.83% LHC 0.1300 0.1330 0.1324 b:s 1.63:1
    0722 Vol 0169923, Sht 0023323 13.73% LHC 0.1300 0.1335 0.1310 b:s 1.02:1
    0721 Vol 0546751, Sht 0155300 28.40% LHC 0.1300 0.1379 0.1301 b:s 1:1.91
    0718 Vol 0321777, Sht 0168000 52.21% LHC 0.1330 0.1398 0.1398 b:s 1.85:1
    0717 Vol 0126800, Sht 0011500 09.07% LHC 0.1193 0.1400 0.1350 b:s 1:3.01
    0716 Vol 0452300, Sht 0058457 12.92% LHC 0.1333 0.1500 0.1399 b:s 1:2.46
    0715 Vol 0078025, Sht 0036900 47.29% LHC 0.1362 0.1500 0.1400 b:s 1.04:1
    0714 Vol 0104900, Sht 0063900 60.92% LHC 0.1394 0.1441 0.1400 b:s 10.66:1
    0711 Vol 0138100, Sht 0027600 19.99% LHC 0.1390 0.1444 0.1406 b:s 1:3.67
    0710 Vol 0075100, Sht 0000600 00.80% LHC 0.1391 0.1500 0.1402 b:s 1:4.96
    0709 Vol 0336501, Sht 0110951 32.97% LHC 0.1401 0.1488 0.1488 b:s 1:1.77
    0708 Vol 0219704, Sht 0093722 42.66% LHC 0.1377 0.1600 0.1450 b:s 1:1.12
    0707 Vol 0500365, Sht 0176325 35.24% LHC 0.1350 0.1600 0.1400 b:s 1:2.50
    0703 Vol 0170436, Sht 0013640 08.00% LHC 0.1400 0.1499 0.1499 b:s 1:1.95
    0702 Vol 0073052, Sht 0037929 51.92% LHC 0.1417 0.1489 0.1450 b:s 2.65:1
    0701 Vol 0326007, Sht 0089879 27.57% LHC 0.1400 0.1600 0.1411 b:s 1:3.38
    0630 Vol 0675553, Sht 0079920 11.83% LHC 0.1401 0.1510 0.1403 b:s 1:5.49
    0627 Vol 0098949, Sht 0000000 00.00% LHC 0.1500 0.1525 0.1510 b:s 1:2.45
    0626 Vol 0075823, Sht 0002363 03.12% LHC 0.1501 0.1600 0.1501 b:s 1:2.27
    0625 Vol 0161508, Sht 0050536 31.29% LHC 0.1500 0.1600 0.1539 b:s 1:3.80
    0624 Vol 0426360, Sht 0053499 12.55% LHC 0.1500 0.1529 0.1501 b:s 1:6.43
    0623 Vol 0195270, Sht 0002500 01.28% LHC 0.1502 0.1544 0.1520 b:s 1:34.32
    0620 Vol 0147060, Sht 0048400 32.93% LHC 0.1510 0.1545 0.1520 b:s 1:3.80
    0619 Vol 0188752, Sht 0078694 41.69% LHC 0.1520 0.1545 0.1545 b:s 1.97:1
    0618 Vol 0085290, Sht 0045000 52.76% LHC 0.1520 0.1549 0.1544 b:s 1.19:1
    0617 Vol 0376829, Sht 0059356 15.75% LHC 0.1501 0.1565 0.1550 b:s 1:3.67
    0616 Vol 0087890, Sht 0002589 02.95% LHC 0.1501 0.1569 0.1550 b:s 1:21.70
    0613 Vol 0026407, Sht 0007500 28.40% LHC 0.1540 0.1570 0.1541 b:s 1.09:1
    0612 Vol 0047330, Sht 0001250 02.64% LHC 0.1515 0.1600 0.1540 b:s 1:4.33
    0611 Vol 0166574, Sht 0029073 17.45% LHC 0.1510 0.1599 0.1515 b:s 1:6.09
    0610 Vol 0172006, Sht 0046706 27.15% LHC 0.1500 0.1649 0.1501 b:s 1:2.90
    0609 Vol 0298773, Sht 0210580 70.48% LHC 0.1531 0.1649 0.1600 b:s 4.60:1
    0606 Vol 0315525, Sht 0121500 38.51% LHC 0.1501 0.1625 0.1550 b:s 1.05:1[139]
    0605 Vol 0234725, Sht 0084400 35.96% LHC 0.1535 0.1658 0.1625 b:s 1:1.12
    0604 Vol 0087850, Sht 0013400 15.25% LHC 0.1510 0.1699 0.1644 b:s 1:2.32
    0603 Vol 0102057, Sht 0034507 33.81% LHC 0.1622 0.1700 0.1622 b:s 2.15:1
    0602 Vol 0077384, Sht 0030515 39.43% LHC 0.1506 0.1696 0.1684 b:s 1.34:1

    [139] There was one after-market trade of 2.5K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 315,525 to 318,025 and would lower the short percentage from 38.51% to 38.20%. If the shares are also added to the short sales, the short volume moves from 121,500 to 124,000 and the short percentage would be 38.99%.
    [140] There was one after-market trade of 400K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 1,240,998 to 1,640,998 and would lower the short percentage from 38.09% to 28.80%. If the shares are also added to the short sales, the short volume moves from 472,677 to 872,677 and the short percentage would be 53.18%.

    07/30/2014: EOD stuff partially copied to the concentrator.
    # Trds: 27, MinTrSz: 50, MaxTrSz: 100000, Vol: 340206, AvTrSz: 12600
    Min. Pr: 0.1000, Max Pr: 0.1087, VW Avg. Tr. Pr: 0.1047
    # Buys, Shares: 8 41400, VW Avg Buy Pr: 0.1044
    # Sells, Shares: 19 298806, VW Avg Sell Pr: 0.1047
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:7.22 (12.17% "buys"), DlyShts 7100 (02.09%), Dly Sht % of 'sells' 2.38%

    Yesterday we closed below my descending support for the second consecutive day, confirming a break out lower on falling, but still "big", for us, volume. Today one of our "outliers", based on size misdirects us by closing above the line with a 100K sell at $0.106. The next lower priced large trade was 89K at $0.104, below the line. Regardless of these two trades, which represented ~56% of the day's volume, our VWAP fell as volume fell.

    So I don't believe this "bullish" sign, especially because the 100K was taken by ATDF at a time when ETRF was battling them with it's own 100K bid. They walked each other up in the last half-hour of the day.

    As long as VWAP declines I'm sticking to my belief that the $0.10x area won't be that strong a support (yet to be seen) and that low $0.09x seems to be a potential stronger support area.

    Looking at today's stuff ...

    For those noting the extremely low short sales percentage, this is not unexpected and not out of line with past behavior. The key is large volume, especially over multiple days, with wide spreads and then falling volume. Because of the mechanics of market-makers and the spread offering opportunities for covering buys to neutralize their intra-day short sales, they come into days like today with temporary long positions at low prices. These are then sold into the market without generating a short sale. Check the area around volume spikes on the one year summary chart posted 2/25/13 and one-year summary chart posted 8/31/13.

    There's two potential outliers based on price. One is two buys at $0.10 of 10K and 1.25K shares, which is -2.91% below the next higher-priced trade, one $0.1030 for 10K shares and several other trades in the $0.13x range for 19K more. The other price-based outlier was the high of the day, $0.1087 for 10K shares that was 2.55% above the next lower price of $0.1060. This later price was within the trend as seven trades in the $0.1050-$0.1059 range totaling 38.4K shares were the next lower prices.

    If one wants to consider the larger trend, the low and high of $0.1030 and $0.1060, respectively, would be reasonable.

    In terms of size, we had one set of outliers, sells of 89K @ $0.1040 and 100K @ $0.1060, the last trade of the day. These two trades were outliers because there were no other larger trades. They were 55.55% of day's volume. The 100K was the last trade of the day and was taken by ATDF while battling a 100K bid from ETRF near EOD. Since ATDF was also on the sell side at the time (and best on both sides almost all day) and daily shorts were only 7.1K, I presume this was an internal trade of some kind. I'm guessing the same for the 89K sell since ATDF was best on both sides at that time too.

    These two trades were not outliers price-wise.

    Today's low, high, VWAP, trade volume, and daily short sales moved -0.50%, -7.01%, -00.42%, -66.00% and -84.60% respectively. Price spread today was 8.70% vs. 16.32%, 25.74% (23.76% if $0.1250 used as high), 20.82%, 6.22%, 2.31%, 2.69%, 6.08%, 5.11% and 17.35% (thanks to the two $0.1193 trades) on prior days.

    If $0.1030 and $0.1060 are respectively used as the high and low, movements for the day become 2.49% for the low, -9.32% for the high and spread would be 2.91%.

    In the traditional TA area, RSI made a minuscule improvement, while remaining in oversold territory, going from 23.07 to 24.54. MFI remained oversold also and also made a small improvement from~7.45 to 7.56. Momentum went from ~0.746 to ~0.757. All the other oscillators I watch behaved similarly. One does need to keep in mind that many oscillators factor in closing price and without the outlier 100K sell at $0.1060 as the last trade, most oscillators would likely have declined or stayed flat.

    Two misdirections appears on traditional bar charts today. Due to the 100K sell at $0.1060 we see a higher close than yesterday's $0.1049. But note that even with the 100K $0.1060 and 89K $0.1040 sells the VWAP dropped -00.42%. If we use the 89K sell as the real close, we are still lower.

    Even if we act like traditional TA folks would, that higher close would be suspect because of the severe volume fall-off, from ~1.641MM, ~2.102MM, 1.001MM and today's ~0.340MM. This could be read as part of a bottoming process. That's only confirmed when price and volume start moving up more-or-less together. Until then, only weakness in the higher close is suggested.

    This is supported by the fourth consecutive day of lower highs and lows. It's contradicted by the close above the short-term descending channel's support.

    That's the second misdirection. If we discount the single 100K outlier, it closed below.

    We again traded mostly below the still-falling Bollinger lower limit, now showing $0.1053 vs. $0.1098, $0.1155, $0.1226 and $0.1278 on prior days. The upper limit, still going higher as would be expected with increased price volatility, is reading $0.1606 vs. $0.1596, $0.1574, $0.1549 and $0.1532 on prior days.

    The 5, 10, 25 and 50-day averages for the VWAPs again all continued down. Today the averages are $0.1137, $0.1233, $0.1358 and $0.1474, down from yesterday's $0.1191, $0.1269, $0.1376 and $0.1487. The 100-day average continued falling too. Starting with Friday, 7/18, we have $0.1530, $0.1534, $0.1537, $0.1541, $0.1544, $0.1546, $0.1546, $0.1542 and $0.1534 today.

    The larger trades (>= 15K) occurred on 2 of the 27 trades, 7.41%. These 189,000 shares were 55.55% of day's volume, and traded at a VWAP of $0.1051. 0 of the larger trades, 0%, were buys of 0 shares, 0% of the larger trades volume, and traded at a VWAP of $0. 2 of the larger trades, 100.00%, were sells of 189,000 shares, 100.00% of the larger trades volume, and traded at a VWAP of $0.1051.

    The other 25 trades, 92.59% of the day's trades, traded 151,206 shares, 44.45% of the days volume. The VWAP was $0.1042. 8 trades, 32.00%, were buys and accounted for 41,400 shares, 27.38% of the smaller trade volume, and traded at a VWAP of $0.1044. 17 trades, 68.00%, were sells and accounted for 109,806 shares, 72.62% of the smaller trade volume, and traded at a VWAP of $0.1041.

    Here's a trading breakdown by arbitrary time-frames. Note that 100K $0.1060 sell is in the last period and the 89K sell is in the period ending at 15:22.
    09:30-09:30: 011250 shrs, 03.31% of vol, VWAP $0.1000, 000.0% buys
    10:15-10:33: 051506 shrs, 15.14% of vol, VWAP $0.1040, 009.5% buys
    10:54-12:36: 029000 shrs, 08.52% of vol, VWAP $0.1032, 058.6% buys
    12:49-15:22: 100050 shrs, 29.41% of vol, VWAP $0.1040, 000.0% buys
    15:26-15:44: 038400 shrs, 11.29% of vol, VWAP $0.1062, 050.8% buys
    15:58-15:59: 110000 shrs, 32.33% of vol, VWAP $0.1059, 000.0% buys

    Here's a trading breakdown by arbitrary price range. Note that the $0.1040 range includes the 89K sell and the $0.160 range includes the 100K sell.
    $0.1000-$0.1000: 011250 shrs, 03.31% of vol, VWAP $0.1000, 000.0% buys
    $0.1030-$0.1035: 029000 shrs, 08.52% of vol, VWAP $0.1032, 058.6% buys
    $0.1040-$0.1059: 189956 shrs, 55.84% of vol, VWAP $0.1043, 012.8% buys
    $0.1060-$0.1087: 110000 shrs, 32.33% of vol, VWAP $0.1062, 000.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%
    07/30 $0.1047 -00.42% 12.2%

    Regarding my newer inflection point calculations, volume fell back to a more normal, for us, range. Yesterday I said the trend over multiple days is more clear - no strength being suggested. Today reinforces that assessment. Even with reduced volume having reduce effect on the calculations, all six periods weakened.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89
    -258.75 -0295.48 -0561.16 -0900.25 -03010.39 -09172.28

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/29/2014: EOD stuff partially copied to the concentrator.
    # Trds: 69, MinTrSz: 100, MaxTrSz: 345900, Vol: 1000682, AvTrSz: 14503
    Min. Pr: 0.1005, Max Pr: 0.1169, VW Avg. Tr. Pr: 0.1051
    # Buys, Shares: 22 457049, VW Avg Buy Pr: 0.1033
    # Sells, Shares: 47 543633, VW Avg Sell Pr: 0.1066
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:1.19 (45.67% "buys"), DlyShts 46100 (04.61%), Dly Sht % of 'sells' 8.48%

    We now have a fourth touch-point a potential descending support on a short-term descending trading channel. So now it's validated. Unfortunately, we closed below it for the second consecutive day, confirming a break out lower on falling, but still "big", for us, volume. There's no traditional TA indications that the move lower is ending. Yesterday I noted "... We need to close above ~$0.1055 just to stay within the descending channel and ride that support down". Today's behavior says that falling line should now become resistance.

    Although some think the today demonstrated strong support at $0.10, I see exactly the opposite. I'm thinking the large willing buyers in this price range are near exhausted and VWAP will continue lower.

    I tried yesterday to counter that day's bearish POV with a positive "spin". The primary possibilities revolved around volume "spikes" that might suggest an end of trend was reached or very near. Also the "psychological attractiveness" of a $0.10 price could come into play. The second factor looks valid but the first factor looks totally bogus for now.

    I'm sticking to my belief that the $0.10x area won't be that strong a support (yet to be seen) and that low $0.09x seems to be a potential stronger support area.

    Looking at today's stuff ...

    There's three potential outliers based on price. One is two buys of 1.8K and 2.5K shares at $0.1169, which is 2.10% above the next lower-priced trade, only one, of $0.1145 for 5K shares. If we consider the $0.1145 also an outlier the $0.1169 is 2.54% above the next lower price with multiple trades and volume, $0.1140 with two buys and one sell (80K). The third was for 345.9K and is detailed next.

    In terms of size, we had a few outliers compared to our norms. The biggest one was a "buy" at $0.1010 of 345.9K shares for which no bid or ask was seen. ATDF was on both sides at the time, so I suspect this was an "in-house" trade for which the MM was establishing a position all day. The trade went off at 15:34. There was an offer that I think was involved. This is described in a comment in the APC. Briefly, around noon ATDF put in an offer of 408.8K at $0.103, which I think was partly sold off and/or reduced throughout the day until ~355K with a reduced $0.101 offer was left. We also saw a 100K sell at 15:31 (part of that 408.8K?) for $0.103 and an 80K sell at $0.114.

    Only the 345.9K "buy" was an outlier in price because only two trades went at that price and only one trade lower, $0.1005 for 10K. The other two were reasonably close to the day's VWAP of $0.1051.

    Today's low, high, VWAP, trade volume, and daily short sales moved -0.50%, -7.95%, -05.60%, -52.39% and -90.31% respectively. Price spread today was 16.32% vs. 25.74% (23.76% if $0.1250 used as high), 20.82%, 6.22%, 2.31%, 2.69%, 6.08%, 5.11%, 17.35% (thanks to the two $0.1193 trades) and 12.53% on prior days.

    In the traditional TA area, all the oscillators I watch reduced their rate of weakening but continued weakening.

    We traded mostly below the still-falling Bollinger lower limit, now showing $0.1098 vs. $0.1155, $0.1226, $0.1278 and $0.1287 on prior days. The upper limit going higher, as would be expected with increased price volatility, is reading $0.1596 vs. $0.1574, $0.1549, $0.1532 and $0.1547 on prior days.

    The 5, 10, 25 and 50-day averages for the VWAPs again all continued down. Today the averages are $0.1191, $0.1269, $0.1376 and $0.1487, down from yesterday's $0.1244, $0.1303, $0.1394 and $0.1499. The 100-day average, which flattened yesterday, returned to dropping. Starting with Friday, 7/18, we have $0.1530, $0.1534, $0.1537, $0.1541, $0.1544, $0.1546, $0.1546 and $0.1542 today.

    NOTE! Keep in mind the larger trades comments in the "outliers" discussion above.

    The larger trades (>= 15K) occurred on 11 of the 69 trades, 15.94%. These 703,700 shares were 70.32% of day's volume, and traded at a VWAP of $0.1044. 3 of the larger trades, 27.27%, were buys of 385,900 shares, 54.84% of the larger trades volume, and traded at a VWAP of $0.1021. 8 of the larger trades, 72.73%, were sells of 317,800 shares, 45.16% of the larger trades volume, and traded at a VWAP of $0.1072.

    The other 58 trades, 84.06% of the day's trades, traded 296,982 shares, 29.68% of the days volume. The VWAP was $0.1067. 19 trades, 32.76%, were buys and accounted for 71,149 shares, 23.96% of the smaller trade volume, and traded at a VWAP of $0.1098. 39 trades, 67.24%, were sells and accounted for 225,833 shares, 76.04% of the smaller trade volume, and traded at a VWAP of $0.1058.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:30: 004451 shrs, 00.44% of vol, VWAP $0.1030, 000.0% buys
    09:42-10:13: 061582 shrs, 06.15% of vol, VWAP $0.1100, 029.9% buys
    10:17-11:30: 030300 shrs, 03.03% of vol, VWAP $0.1136, 017.5% buys
    11:34-12:03: 168100 shrs, 16.80% of vol, VWAP $0.1132, 035.8% buys
    12:21-12:51: 044000 shrs, 04.40% of vol, VWAP $0.1063, 009.1% buys
    12:59-13:13: 107000 shrs, 10.69% of vol, VWAP $0.1040, 000.0% buys
    13:37-14:56: 012349 shrs, 01.23% of vol, VWAP $0.1060, 100.0% buys
    15:10-15:30: 052100 shrs, 05.21% of vol, VWAP $0.1040, 002.1% buys
    15:31-15:31: 144900 shrs, 14.48% of vol, VWAP $0.1028, 003.4% buys
    15:34-15:34: 360900 shrs, 36.07% of vol, VWAP $0.1010, 095.8% buys
    15:49-15:49: 015000 shrs, 01.50% of vol, VWAP $0.1049, 033.3% buys

    Here's a trading breakdown by arbitrary price range.
    $0.1005-$0.1030: 505251 shrs, 50.49% of vol, VWAP $0.1015, 069.4% buys
    $0.1030-$0.1055: 222000 shrs, 22.18% of vol, VWAP $0.1043, 005.0% buys
    $0.1060-$0.1089: 013349 shrs, 01.33% of vol, VWAP $0.1062, 100.0% buys
    $0.1095-$0.1100: 058582 shrs, 05.85% of vol, VWAP $0.1099, 036.5% buys
    $0.1120-$0.1145: 202100 shrs, 20.20% of vol, VWAP $0.1132, 030.2% buys
    $0.1169-$0.1169: 004300 shrs, 00.43% of vol, VWAP $0.1169, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%
    07/29 $0.1051 -05.60% 45.7%

    Regarding my newer inflection point calculations, volume was again big today. Talk about "noise" in our metrics, today is split with three improved and three worsened after yesterday's all improved. But the trend over multiple days is more clear - no strength being suggested.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50
    -134.82 -0171.43 -0372.29 -0494.57 -01149.54 -04728.89

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/28/2014: EOD stuff partially copied to the concentrator.
    # Trds: 93, MinTrSz: 66, MaxTrSz: 290000, Vol: 2101933, AvTrSz: 22601
    Min. Pr: 0.1010, Max Pr: 0.1270, VW Avg. Tr. Pr: 0.1113
    # Buys, Shares: 46 630533, VW Avg Buy Pr: 0.1148
    # Sells, Shares: 46 1461400, VW Avg Sell Pr: 0.1099
    # Unkn, Shares: 1 10000, VW Avg Unk. Pr: 0.1070
    Buy:Sell 1:2.32 (30.00% "buys"), DlyShts 475523 (22.61%), Dly Sht % of 'sells' 32.52%

    Yesterday I mentioned a third touch-point occurred on a potential descending support on a short-term descending trading channel. I also didn't know if it was valid because of the trades of $0.1193 (outliers) on 7/17 though. I didn't know whether to consider that we have an origin and two touches or not, the minimum needed to consider such a line potentially valid.

    That ambiguity is now resolved. Regardless of 7/17, we have a second touch yesterday and third touch today. Unfortunately today decided to drop and close below the line. We need to close above ~$0.1055 just to stay within the descending channel and ride that support down.

    I had said if we are within a channel, we should see a rebound towards at least the mid-range of the channel, about $0.121. Or if we do a "reversion to the mean" we could see $0.135, just above the descending resistance (then) at ~$0.133 and the 200-day SMA of $0.1321. I said I didn't expect we'd go that far without a catalyst though.

    Today resolved all those "ifs" with a resounding bearish move on rising (even further) volume with a lower high, low and close. The close was below the descending support and the low represents the first test of my prior statement that $0.10 didn't seem likely to offer strong support.

    I'll try and counter that POV with a positive "spin" next.

    I said yesterday " ... volume qualifies as a "spike", being both ~5 times yesterday's and ~7 times the 10-day volume average ... often signals the end of a trend, ... down beginning 6/30/14 ... combined with the newly-anointed "iffy" descending support argues for a rebound here. Our near-term targets should be one of the two described above".

    A second day of even "spikier" volume might make the end of this trend more likely. Why? Because the short-term potential sellers may have been flushed by an aggregate ~3.75MM (or 1/2 that if you believe every trade is double-counted, otherwise somewhere between) in just two days. Maybe because many will find $0.10x an attractive buy price and overwhelm any remaining sellers. All the oscillators I watch entered oversold today. Lots of folks believe this means a move up will come shortly.

    OK. That's the best I can do for a bullish spin on today's behavior.

    Fortunately, from a face-saving perspective, yesterday I also said "If we break below the descending channel ..." and went on to discuss how I believed the $0.10x area wouldn't be that strong a support (yet to be seen) and that low $0.09x seemed to be a potential stronger support area. I won't repeat it all - it's in yesterday's post.

    Looking at today's stuff ...

    Today MM BKMM was again on the bid, but today for 100K (instead of yesterday's 10K) at $0.108 (vs. $0.1151) at 13:48. They struck pay dirt at 100K @ $0.108 was sold from 13:54 to 14:38.

    Today the only outliers, based on price, were buys of1000 shares at $0.1268 and 700 shares at $0.1270. The next price down, $0.1250, had several trades and good volume.

    In terms of size, we had a lot of outliers compared to our norms. E.g., the four largest trades totaled 902.5K (175K, 187.5K - the only buy, 250K and 290K) and the next 10 largest (>= 40K) accounted for ~564K. 6/23 - 7/24 average largest trade size is 46,621, including eight days with substantially larger than normal maximum trade sizes. Excluding those eight days (larger than 55K) yields ~30.5K.

    Today's low, high, VWAP, trade volume, and daily short sales moved -8.18%, -4.44% (-5.94% if $0.1250 used as high), -05.51%, 28.09% and 0.60% respectively. Price spread today was 25.74% (23.76% if $0.1250 used as high) vs. 20.82%, 6.22%, 2.31%, 2.69%, 6.08%, 5.11%, 17.35% (thanks to the two $0.1193 trades), 12.53% and 10.13% on prior days.

    In the traditional TA area, all the oscillators I watch took a big dive, expected after to high-volume down days, into oversold. Those without oversold markers, like ADX, momentum, ... just took nasty dives to very low levels.

    If we drop the two price outliers, we traded completely below the still-falling Bollinger lower limit, now showing $0.1155 vs. $0.1226, $0.1278, $0.1287 and $0.1298 on prior days. The upper limit going higher, as would be expected with increased price volatility, reading $0.1574 vs. $0.1549, $0.1532, $0.1547 and $0.1554 on prior days.

    The 5, 10, 25 and 50-day averages for the VWAPs again all continued down. Today the averages are $0.1244, $0.1303, $0.1394 and $0.1499, down from yesterday's $0.1285, $0.1333, $0.1411 and $0.1510. The 100-day average, which joined in on 7/21, had managed a small bump up yesterday. Today it flattened. Starting with Friday, 7/18, we have $0.1530, $0.1534, $0.1537, $0.1541, $0.1544, $0.1546 and $0.1546 today.

    NOTE! The larger trades comments in the "outliers" discussion above.

    The larger trades (>= 15K) occurred on 28 of the 93 trades, 30.11%. These 1,126,573 shares were 68.65% of day's volume, and traded at a VWAP of $0.1121. 8 of the larger trades, 28.57%, were buys of 495,066 shares, 27.25% of the larger trades volume, and traded at a VWAP of $0.1157. 20 of the larger trades, 71.43%, were sells of 1,321,549 shares, 72.75% of the larger trades volume, and traded at a VWAP of $0.1108.

    The other 65 trades, 69.89% of the day's trades, traded 285,318 shares, 13.57% of the days volume. The VWAP was $0.1064. 38 trades, 58.46%, were buys and accounted for 135,467 shares, 47.48% of the smaller trade volume, and traded at a VWAP of $0.1115. 26 trades, 40.00%, were sells and accounted for 139,851 shares, 49.02% of the smaller trade volume, and traded at a VWAP of $0.1014.

    Here's a trading breakdown by arbitrary time-frames. Note the period ending 10:54 includes a 187.5K buy @ $0.12. Period ending 11:17 includes a sell of 175K @ $0.125. 11:18 is only the 250K @ $0.115 sell. Ending 15:56 includes the 290K @ $0.101 sell.
    09:30-10:02: 037000 shrs, 01.76% of vol, VWAP $0.1173, 023.0% buys
    10:21-10:54: 322427 shrs, 15.34% of vol, VWAP $0.1201, 100.0% buys
    11:14-11:17: 175700 shrs, 08.36% of vol, VWAP $0.1250, 000.4% buys
    11:18-11:18: 250000 shrs, 11.89% of vol, VWAP $0.1150, 000.0% buys
    11:21-11:35: 114166 shrs, 05.43% of vol, VWAP $0.1162, 000.9% buys
    11:42-11:45: 101934 shrs, 04.85% of vol, VWAP $0.1100, 066.9% buys
    11:59-12:49: 024282 shrs, 01.16% of vol, VWAP $0.1126, 087.6% buys
    12:55-13:36: 266239 shrs, 12.67% of vol, VWAP $0.1104, 024.5% buys
    13:37-14:41: 332500 shrs, 15.82% of vol, VWAP $0.1045, 032.3% buys
    15:00-15:44: 119185 shrs, 05.67% of vol, VWAP $0.1053, 005.9% buys
    15:50-15:56: 358500 shrs, 17.06% of vol, VWAP $0.1014, 007.9% buys

    Here's a trading breakdown by arbitrary price range. Note the first entry the 290K @ $0.101 sell. The $0.108 ending range includes a 94K @ $0.1080 sell. Range ending at $0.1176 includes a 250K @ $0.1150 sell. The range ending at $0.12 includes a 187.5K @ $0.12 sell and the range ending at $0.1270 includes a 175K @ $0.1250 sell.
    $0.1010-$0.1020: 335000 shrs, 15.94% of vol, VWAP $0.1011, 000.0% buys
    $0.1039-$0.1055: 198185 shrs, 09.43% of vol, VWAP $0.0995, 033.3% buys
    $0.1070-$0.1080: 200000 shrs, 09.52% of vol, VWAP $0.1080, 000.0% buys
    $0.1098-$0.1110: 448083 shrs, 21.32% of vol, VWAP $0.1102, 047.0% buys
    $0.1129-$0.1149: 021372 shrs, 01.02% of vol, VWAP $0.1129, 100.0% buys
    $0.1150-$0.1176: 391666 shrs, 18.63% of vol, VWAP $0.1155, 000.0% buys
    $0.1190-$0.1200: 326677 shrs, 15.54% of vol, VWAP $0.1200, 100.0% buys
    $0.1250-$0.1270: 180950 shrs, 08.61% of vol, VWAP $0.1250, 003.3% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%
    07/28 $0.1113 -05.51% 30.0%

    Regarding my newer inflection point calculations, volume was again big today. I expected a big fall-off in volume and still wanted to see a trend of more consistent, and significant for us, volume. I'm not sure how to evaluate today's volume, but it seems the trend may be getting established. We have the second consecutive day of predominately "big" moves lower. I'm guessing that volume will move to more normal range and the trend lower in these calculations will flatten a bit.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19
    -212.09 -0286.96 -0610.67 -0950.02 -03358.38 -09626.50

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/25/2014: EOD stuff partially copied to the concentrator.
    # Trds: 108, MinTrSz: 12, MaxTrSz: 400000, Vol: 1640998, AvTrSz: 15194
    Min. Pr: 0.1100, Max Pr: 0.1329, VW Avg. Tr. Pr: 0.1178
    # Buys, Shares: 48 390361, VW Avg Buy Pr: 0.1194
    # Sells, Shares: 59 850637, VW Avg Sell Pr: 0.1184
    # Unkn, Shares: 1 400000, VW Avg Unk. Pr: 0.1150
    Buy:Sell 1:2.18 (23.79% "buys"), DlyShts 472689 (28.80%), Dly Sht % of 'sells' 55.57%

    Well, today gave me a third touch-point on a potential descending support on a short-term descending trading channel. It's origin is the low of 6/30 ($0.1401) and has a touch at the lows of 7/17 ($0.1193) and today ($0.11). Recall that the 7/17 low was established with two "outlier" trades of $0.1193 though. Without them our low would have been $0.1335 IIRC. So I don't know whether to consider that we have an origin and two touches or not, the minimum needed to consider such a line potentially valid.

    Anyway, it fell about 16/100ths of a penny a day, or ~1.19%/day. If we are indeed within a channel, we should see a rebound towards at least the mid-range of the channel, about $0.121. If we do a "reversion to the mean" of the latest down leg we could see $0.135, just above the descending resistance today at ~$0.133 and the 200-day SMA of $0.1321. I don't expect we'd go that far without a catalyst though.

    Today's volume qualifies as a "spike", being both ~5 times yesterday's and ~7 times the 10-day volume average. Such a spike often signals the end of a trend, in this case down beginning 6/30/14. That combined with the newly-anointed "iffy" descending support argues for a rebound here. Our near-term targets should be one of the two described above.

    If our trading range hangs in around the $0.125 area, the 200-day SMA will cease rising and go flat in about four days. The 50-day, which had been trying to go flat, began a slow deterioration on 7/21 and continues that trend. It would accelerate a bit in a few days if trading range stayed around $0.125.

    If we break below the descending channel ...

    We've got an old potential support around $0.10 from the 10/8/13-10/10/13 period. It was just a low in an extended down-trend that saw a brief (about 3.5 weeks) rebound, with good supporting volume through ~10/16/13, followed by a continuation of the down trend. For that latter reason, the good volume notwithstanding, I can't say it would be strong support. A stronger one might be in the low $0.09x area.

    The low $0.9x area had two instances of demonstrated support that extended across multiple days. The first occurrence, 1/23/14-1/31/14, resulted in a brief rise into the low $0.12xx range before price began collapsing again. It was on good volume, for the period. The second occurrence, 2/20/14-2/25/14, had good volume, was followed by a rise to lows of ~$0.095 and highs up to ~$0.12 2/26/14-3/4/14, and then "popped" to as high as $0.23 on 3/10/14. The "pop" was on very good volume for the time and resulted in a sideways trading range until 4/3. Then another brief move up to a $0.18-$0.20 range for six days was followed by the beginning of our current long slow grind down.

    Moving on to a recounting of today's stuff ...

    There was one after-market trade of 400K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 1,240,998 to 1,640,998 and would lower the short percentage from 38.09% to 28.80%. If the shares are also added to the short sales, the short volume moves from 472,677 to 872,677 and the short percentage would be 53.18%.

    Yesterday and today had a couple MMs not normally seen. Yesterday it was GUGS, pre-market and on, with a 100K offer at $0.13 and today it was BKMM on the bid for 10K at $0.1151 at 14:39.

    We had a few outliers today. One was a single sell of 5K shares at $0.1100. The next higher price seen was $0.1150 for ~704K, including 400K and 250K sells, followed by ~118K at $0.1151. At the other end of the spectrum, we had a 500 share buy for $0.1329 at 11:37. The next lower price was a single buy of 4,002 shares for $0.1319 at 12:08. The next higher price had some volume of trades, both buys and sells, for $0.1300.

    Using $0.1150 and $0.1300 for the day's low and high, respectively, would be reasonable for examining the days results without the low and high price outliers.

    Two other outliers were such only because of size. Both were sells for $0.1150. One was 250K at 14:16 and the other was 400K at 16:00:47 (an after-hours trade not included in FINRA Reg SHO daily short sales totals). Since another five trades for ~59K traded at this price I see no reason to examine the effects of removing the two larger trades.

    Today's low, high, VWAP, trade volume, and daily short sales moved -13.39%, -1.48%, -09.19%, 358.62% and 170.73% respectively. Price spread today was 20.82% vs. 6.22%, 2.31%, 2.69%, 6.08%, 5.11%, 17.35% (thanks to the two $0.1193 trades), 12.53%, 10.13% and 3.37% on prior days.

    Using $0.1150 and $0.1300 for the day's low and high, ignoring the outlier low and highs mentioned above, makes movement of the low and high -9.45% and -3.63% instead of -13.39% and -1.48%. Price spread would be 13.04% instead of 20.82%.

    In the traditional TA area, yesterday I noted we made our first approach to the anticipated support at $0.125, getting down to $0.127. I then said "... I thought this might be stronger support than the $0.135, which helped ... before being broken, but then I began to have doubts about $0.125. I still have those doubts".

    I also said "Today's higher volume suggests that a bit more weight should be given to the oscillators I normally watch. But volume has been volatile ... Anyway, all oscillators except Williams %R and full stochastic had very small moves down".

    I think I blew this one by not giving enough weight to what the oscillators were suggesting. When combined with the long-term descending highs, lows, VWAP (not traditional TA), resistance, moving averages, and Bollingers, and adding in the short-term versions of all those things, it would have been reasonable to just flat-out make a call for going lower.

    But we are entering the time of the month when price has, in the "recent" past, flattened or even risen some. This has been occurring in the last and first weeks of each month for quite some time, including the last week of June and first week of July. I had been wondering if it would hold now that I was fairly sure the PIPErs were out a couple of months now. But I had no prior periods against which this could be compared because rumors of KIA, the RS-related stuff entered the picture, NS-999 in and out of the paint shop with batteries installed, ...

    I also missed a "Spinning Top" candlestick, indicating indecision, that opened below, traded mostly below, and closed below the 200-day SMA. The two prior days had traded with highs above and lows below it and included one close below it.

    This could have been enough to sway me if I had noticed it. I don't know.

    The Bollinger lower limit continues to drop, showing $0.1226 vs. $0.1278, $0.1287, $0.1298 and $0.1314 on prior days. The upper limit broke the trend of going lower today by making an up tick, reading $0.1549 vs. $0.1532, $0.1547, $0.1554 and $0.1559 on prior days.

    The 5, 10, 25 and 50-day averages for the VWAPs again all continued down. Today the averages are $0.1285, $0.1333, $0.1411 and $0.1510. The 100-day average, which joined in on 7/21, again managed a small bump up today. Don't ask me how, but I had picked up some $0.28/$0.29 prices in the first four entries. I've corrected those today. Starting with Friday, 7/18, we have $0.1530, $0.1534, $0.1537, $0.1541, $0.1544 and $0.1546 today.

    NOTE! The larger trades values were affected by a 250K sell for $0.1150 at 14:16 and a single 400K AH trade for $0.1150. The latter trade is classified as unknown although I believe it was likely a sell along with all the other $0.1150 trades, but for one 5K buy.

    I suspect it was just an MM completing a sell order after spending the day shorting in preparation for completing the order and the AH trade was the completion of it. This would be a certain situation wherein JP's "double count" would apply and our true volume was at least 400K, and maybe 650K, lower than what we see. It's likely the 250K trade was part of that too. Needless to say, things would look different sans that AH trade (and the 250K trade?) and if I'm right about why we saw it (them?) things might have looked much better for the whole day.

    The larger trades (>= 15K) occurred on 16 of the 108 trades, 14.81%. These 1,126,573 shares were 68.65% of day's volume, and traded at a VWAP of $0.1170. 5 of the larger trades, 31.25%, were buys of 182,000 shares, 16.16% of the larger trades volume, and traded at a VWAP of $0.1193. 10 of the larger trades, 62.50%, were sells of 544,573 shares, 48.34% of the larger trades volume, and traded at a VWAP of $0.1270. 1 of the larger trades, 6.25%, was an unknown representing 400,000 shares, 35.51% of the larger trades volume, and traded at a VWAP of $0.1150.

    The other 92 trades, 85.19% of the day's trades, traded 514,425 shares, 31.35% of the days volume. The VWAP was $0.1197. 43 trades, 46.74%, were buys and accounted for 208,361 shares, 40.50% of the smaller trade volume, and traded at a VWAP of $0.1194. 49 trades, 53.26%, were sells and accounted for 306,064 shares, 59.50% of the smaller trade volume, and traded at a VWAP of $0.1199.

    Here's a trading breakdown by arbitrary time-frames. Note the 14:11-14:36 entry includes the 250K sell at 14:16 for $0.1150 and the last entry is only the 400K AH trade for that same price.
    09:45-12:11: 051902 shrs, 03.16% of vol, VWAP $0.1289, 008.7% buys
    12:14-13:18: 061300 shrs, 03.74% of vol, VWAP $0.1300, 067.4% buys
    13:20-13:25: 066854 shrs, 04.07% of vol, VWAP $0.1252, 005.8% buys
    13:47-14:02: 191812 shrs, 11.69% of vol, VWAP $0.1207, 043.6% buys
    14:11-14:36: 394357 shrs, 24.03% of vol, VWAP $0.1160, 009.0% buys
    14:43-15:05: 281400 shrs, 17.15% of vol, VWAP $0.1171, 038.0% buys
    15:17-15:49: 066923 shrs, 04.08% of vol, VWAP $0.1184, 047.0% buys
    15:51-15:59: 126450 shrs, 07.71% of vol, VWAP $0.1151, 065.6% buys
    16:00-16:00: 400000 shrs, 24.38% of vol, VWAP $0.1150, 000.0% buys

    Here's a trading breakdown by arbitrary price range. Note the second entry includes the 250K and 400K sells for $0.1150 at 14:16 and AH respectively.
    $0.1100-$0.1100: 005000 shrs, 00.30% of vol, VWAP $0.1100, 000.0% buys
    $0.1150-$0.1150: 704137 shrs, 42.91% of vol, VWAP $0.1150, 000.7% buys
    $0.1151-$0.1166: 245500 shrs, 14.96% of vol, VWAP $0.1156, 031.8% buys
    $0.1170-$0.1185: 167400 shrs, 10.20% of vol, VWAP $0.1174, 063.9% buys
    $0.1190-$0.1200: 288905 shrs, 17.61% of vol, VWAP $0.1199, 052.0% buys
    $0.1220-$0.1221: 039500 shrs, 02.41% of vol, VWAP $0.1220, 000.0% buys
    $0.1240-$0.1250: 052504 shrs, 03.20% of vol, VWAP $0.1242, 008.3% buys
    $0.1270-$0.1281: 044250 shrs, 02.70% of vol, VWAP $0.1276, 000.0% buys
    $0.1290-$0.1300: 089300 shrs, 05.44% of vol, VWAP $0.1297, 046.2% buys
    $0.1319-$0.1329: 004502 shrs, 00.27% of vol, VWAP $0.1320, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%
    07/25 $0.1178 -09.19% 23.8%

    Regarding my newer inflection point calculations, volume was big today. I expect a big fall-off in volume now and still want to see a trend of more consistent, and significant for us, volume. So even though the numbers below have big negative moves, sans the reasonable volume in a trend I still abstain from trying to read these tea leaves.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63
    -108.47 -0135.29 -0468.19 -0737.60 -02900.85 -08684.19

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/24/2014: EOD stuff partially copied to the concentrator.
    # Trds: 35, MinTrSz: 850, MaxTrSz: 75000, Vol: 357810, AvTrSz: 10223
    Min. Pr: 0.1270, Max Pr: 0.1349, VW Avg. Tr. Pr: 0.1297
    # Buys, Shares: 8 175600, VW Avg Buy Pr: 0.1301
    # Sells, Shares: 27 182210, VW Avg Sell Pr: 0.1294
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:1.04 (49.08% "buys"), DlyShts 174600 (48.80%), Dly Sht % of 'sells' 95.82%

    We had two outliers today. One was a single buy of 2K shares at $0.1349. The next lower price seen was $0.1331 for 9K and it was close to similar trades with volume of $0.1330, $0.1320, ... The other was an outlier only because of it's size. It was a single buy of 60K at $0.13, a tenth below mid-range for the day.

    Today's low, high, VWAP, trade volume, and daily short sales moved -2.31%, 1.43%, -01.48%, 258.28% and 298.91% respectively. Price spread today was 6.22% vs. 2.31%, 2.69%, 6.08%, 5.11%, 17.35% (thanks to the two $0.1193 trades), 12.53%, 10.13%, 3.37% and 3.88% on prior days.

    Discounting the $0.1349 outlier and using the $0.1331 as the day's high would yield movements of 0.08% for the high and 4.80% for the spread.

    In the traditional TA area, we made our first approach to the anticipated support at $0.125, getting down to $0.127. A short while back I thought this might be stronger support than the $0.135, which helped out for seven days before being broken, but then I began to have doubts about $0.125. I still have those doubts.

    Today's higher volume suggests that a bit more weight should be given to the oscillators I normally watch. But volume has been volatile and we could easily drop to very low volume again at any time. Anyway, all oscillators except Williams %R and full stochastic had very small moves down.

    The Bollinger lower limit continues to drop, showing $0.1278 vs. $0.1287, $0.1298 and $0.1314 on prior days. The upper limit continued lower today, reading $0.1532 vs. $0.1547, $0.1554 and $0.1559 on prior days.

    For the second consecutive day we traded mostly below the rising 200-day SMA, $0.1321 today, but didn't manage to close above it like we did yesterday. We closed at $0.13, which was the last and largest trade of the day, a buy of 60K at 13:46.

    The 5, 10, 25 and 50-day averages for the VWAPs again all continued down. Today the averages are $0.1318, $0.1356, $0.1425 and $0.1521. The 100-day average, which joined in on 7/21, managed a small bump up today. Starting with Friday, 7/18, we have $0.2900, $0.2883, $0.2862, $0.2827 and $0.1544 today.

    No "fishing" was noted today.

    Short percentage misbehaved a bit today - buy percentage down from yesterday's 62% to 49.1% and daily short percentage moved from yesterday's 43.83% up to 48.8% today. Small variations in magnitude from the normal are not unusual in the choppy leg after coming off extremes as we vacillate towards more normal ranges. This is easily seen on the chart. I suspect the variation was the buy of 60K - this would represent almost 1/3rd of the day's short volume and would skew the percentage substantially higher.

    The larger trades (>= 15K) occurred on 4 of the 35 trades, 11.43%. These 170,000 shares were 47.51% of day's volume, and traded at a VWAP of $0.1297. 3 of the larger trades, 75.00%, were buys of 155,000 shares, 91.18% of the larger trades volume, and traded at a VWAP of $0.1300. 1 of the larger trades, 25.00%, was a sell of 15,000 shares, 8.82% of the larger trades volume, and traded at a VWAP of $0.1270.

    The other 31 trades, 88.57% of the day's trades, traded 187,810 shares, 52.49% of the days volume. The VWAP was $0.1298. 5 trades, 16.13%, were buys and accounted for 20,600 shares, 10.97% of the smaller trade volume, and traded at a VWAP of $0.1310. 26 trades, 83.87%, were sells and accounted for 167,210 shares, 89.03% of the smaller trade volume, and traded at a VWAP of $0.1296.

    Here's a trading breakdown by arbitrary time-frames. Note the last entry is only the 60K $0.13 buy.
    09:30-09:52: 132600 shrs, 37.06% of vol, VWAP $0.1304, 085.7% buys
    10:25-10:26: 012000 shrs, 03.35% of vol, VWAP $0.1321, 016.7% buys
    12:03-13:05: 026210 shrs, 07.33% of vol, VWAP $0.1301, 000.0% buys
    13:11-13:42: 127000 shrs, 35.49% of vol, VWAP $0.1286, 000.0% buys
    13:46-13:46: 060000 shrs, 16.77% of vol, VWAP $0.1300, 100.0% buys

    Here's a trading breakdown by arbitrary price range. Note the second entry includes the 60K $0.13 buy.
    $0.1270-$0.1287: 089300 shrs, 24.96% of vol, VWAP $0.1281, 000.0% buys
    $0.1290-$0.1301: 235210 shrs, 65.74% of vol, VWAP $0.1300, 072.2% buys
    $0.1320-$0.1331: 031300 shrs, 08.75% of vol, VWAP $0.1324, 012.1% buys
    $0.1349-$0.1349: 002000 shrs, 00.56% of vol, VWAP $0.1349, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%
    07/24 $0.1297 -01.48% 49.1%

    Regarding my newer inflection point calculations, volume was up today. But without a trend of decent volume and changes trending, we have to just take it as noise still.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12
    -011.84 -0048.89 -0313.49 -0542.03 -01873.47 -06304.63

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/23/2014: EOD stuff partially copied to the concentrator.
    # Trds: 19, MinTrSz: 100, MaxTrSz: 10000, Vol: 99869, AvTrSz: 5256
    Min. Pr: 0.1300, Max Pr: 0.1330, VW Avg. Tr. Pr: 0.1317
    # Buys, Shares: 13 61869, VW Avg Buy Pr: 0.1327
    # Sells, Shares: 6 38000, VW Avg Sell Pr: 0.1301
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1.63:1 (61.95% "buys"), DlyShts 43769 (43.83%), Dly Sht % of 'sells' 115.18%

    No outlier today.

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.00%, -0.37%, 00.16%, -41.23% and 87.66% respectively. Price spread today was 2.31% vs. 2.69%, 6.08%, 5.11%, 17.35% (thanks to the two $0.1193 trades), 12.53%, 10.13%, 3.37%, 3.88% and 7.84% on prior days.

    In the traditional TA area, low volume suggests that little weight should be given to the oscillators I normally watch. All had very small moves, three positive and three negative. There's nothing I can read into them with this kind of volume.

    The Bollinger lower limit continues to drop, showing $0.1287 vs $0.1298 and $0.1314 on prior days. The upper limit continued lower today, reading $0.1547 vs. $0.1554 and $0.1559 on prior days.

    We traded mostly below the rising 200-day SMA today, $0.1320 and did manage to close just above it at $0.1324.

    The 5, 10, 25 and 50-day averages for the VWAPs again all continued down. Today the averages are $0.1344, $0.1319, $0.2453, $0.2524 and $0.2783. The 100-day average joined in on 7/21. Starting with Friday, 7/18, we have $0.2900, $0.2883, $0.2862 and $0.2827.

    No "fishing" was noted today.

    Short percentage continued behaving as expected - buy percentage up (and "high" at 62%) and daily short percentage moved from yesterday's 13.73% to 43.83% today.

    There were no larger trades today.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-11:11: 036100 shrs, 36.15% of vol, VWAP $0.1330, 100.0% buys
    12:03-13:03: 012000 shrs, 12.02% of vol, VWAP $0.1324, 100.0% buys
    14:02-14:12: 038000 shrs, 38.05% of vol, VWAP $0.1301, 000.0% buys
    14:18-15:57: 013769 shrs, 13.79% of vol, VWAP $0.1322, 100.0% buys

    Here's a trading breakdown by arbitrary price range.
    $0.1300-$0.1302: 038000 shrs, 38.05% of vol, VWAP $0.1301, 000.0% buys
    $0.1320-$0.1324: 026869 shrs, 26.90% of vol, VWAP $0.1323, 100.0% buys
    $0.1330-$0.1330: 035000 shrs, 35.05% of vol, VWAP $0.1330, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%
    07/23 $0.1317 +00.16% 62.0%

    Regarding my newer inflection point calculations, volume was in the crapper for the second consecutive day. Today "noise" continues - just continue to ignore the readings.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46
    -018.40 -0053.47 -0308.37 -0554.64 -01849.94 -06254.12

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/22/2014: EOD stuff partially copied to the concentrator.
    # Trds: 17, MinTrSz: 323, MaxTrSz: 44600, Vol: 169923, AvTrSz: 9995
    Min. Pr: 0.1300, Max Pr: 0.1335, VW Avg. Tr. Pr: 0.1315
    # Buys, Shares: 8 85923, VW Avg Buy Pr: 0.1321
    # Sells, Shares: 9 84000, VW Avg Sell Pr: 0.1309
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1.02:1 (50.57% "buys"), DlyShts 23323 (13.73%), Dly Sht % of 'sells' 27.77%

    No outlier today.

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.00%, -3.19%, -00.26%, -68.92% and -84.98% respectively. Price spread today was 2.69% vs. 6.08%, 5.11%, 17.35% (thanks to the two $0.1193 trades), 12.53%, 10.13%, 3.37%, 3.88%, 7.84% and 6.21% on prior days.

    Of the traditional TA oscillators I watch, the low volume bites us again - all flipped negative yesterday on reasonable and rising volume so it seemed we should give that movement some weight. Today's price action does suggest that was a correct assessment. Today we get minuscule volume and mixed readings as a couple improve and a couple continue to weaken and a couple go flat. Just ignore them for now.

    The Bollinger lower limit continues to drop, showing $0.1298 now and the upper limit went from flat yesterday to lower today, reading $0.1554 today (was $0.1559).

    The 5, 10, 25 and 50-day averages for the VWAPs again all continued down. Today the averages are $0.1346, $0.1383, $0.1443 and $0.1525 vs. $0.1363, $0.1394, $0.1452 and $0.1527 vs. $0.1380, $0.1400, $0.1461 and $0.1529 vs. $0.1394, $0.1409, $0.1470 and $0.1530 on prior days.

    No "fishing" was noted today.

    Short percentage continued behaving as expected.

    The larger trades (>= 15K) occurred on 3 of the 17 trades, 17.65%. These 92,100 shares were 54.20% of day's volume, and traded at a VWAP of $0.1315. 1 of the larger trades, 33.33%, was a buy of 44,600 shares, 48.43% of the larger trades volume, and traded at a VWAP of $0.1320. 2 of the larger trades, 66.67%, were sells of 47,500 shares, 51.57% of the larger trades volume, and traded at a VWAP of $0.1310.

    The other 14 trades, 82.35% of the day's trades, traded 77,823 shares, 45.80% of the days volume. The VWAP was $0.1315. 7 trades, 50.00%, were buys and accounted for 41,323 shares, 53.10% of the smaller trade volume, and traded at a VWAP of $0.1321. 7 trades, 50.00%, were sells and accounted for 36,500 shares, 46.90% of the smaller trade volume, and traded at a VWAP of $0.1308.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:30: 003000 shrs, 01.77% of vol, VWAP $0.1300, 000.0% buys
    10:26-11:15: 012323 shrs, 07.25% of vol, VWAP $0.1331, 091.9% buys
    12:54-14:00: 022500 shrs, 13.24% of vol, VWAP $0.1308, 000.0% buys
    15:03-15:05: 054600 shrs, 32.13% of vol, VWAP $0.1322, 100.0% buys
    15:11-15:52: 077500 shrs, 45.61% of vol, VWAP $0.1310, 025.8% buys

    Here's a trading breakdown by arbitrary price range.
    $0.1300-$0.1310: 079000 shrs, 46.49% of vol, VWAP $0.1309, 025.3% buys
    $0.1311-$0.1319: 026323 shrs, 15.49% of vol, VWAP $0.1311, 005.0% buys
    $0.1320-$0.1320: 044600 shrs, 26.25% of vol, VWAP $0.1320, 100.0% buys
    $0.1330-$0.1335: 020000 shrs, 11.77% of vol, VWAP $0.1333, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%
    07/22 $0.1315 -00.26% 50.6%

    Regarding my newer inflection point calculations, volume tanked today. Yesterday I gave weight to the changes and today it seems that was correct. Five of the six periods were weaker, several notably so. Today, it's back to "noise" - just ignore the readings.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61
    -052.40 -0075.51 -0357.46 -0644.63 -02037.68 -06679.46

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/21/2014: EOD stuff partially copied to the concentrator.
    # Trds: 46, MinTrSz: 75, MaxTrSz: 65000, Vol: 546751, AvTrSz: 11886
    Min. Pr: 0.1300, Max Pr: 0.1379, VW Avg. Tr. Pr: 0.1318
    # Buys, Shares: 15 188074, VW Avg Buy Pr: 0.1330
    # Sells, Shares: 31 358677, VW Avg Sell Pr: 0.1312
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:1.91 (34.40% "buys"), DlyShts 155300 (28.40%), Dly Sht % of 'sells' 43.30%

    We had one outlier at 12:02 in the form of a 4,999 share trade at $0.1379, the high of the day. The next lower price was $0.1350 in two trades totaling 8,862 share. Since it was near similarly-priced trades, $0.1348, $0.1340, ... I would think using $0.1350 in any "what if" scenarios would be reasonable.

    Today's low, high, VWAP, trade volume, and daily short sales moved -2.26%, -1.36%, -01.94%, 69.92% and -7.56% respectively. Price spread today was 6.08% vs. 5.11%, 17.35% (thanks to the two $0.1193 trades), 12.53%, 10.13%, 3.37%, 3.88%, 7.84%, 6.21% and 16.19% on prior days.

    If we throw out the $0.1379 outlier, the high movement becomes -3.43% and the spread becomes 3.85%.

    The $0.135 weak support caved today as both VWAP, $0.1318, and the close, $0.1301, were below it on rising and decisive volume. We also closed below the rising 200-day SMA of $0.1318, right where the VWAP is today. Discounting the "outlier" would also move the high $0.1350.

    Excluding the one outlier 4,999 trade at $0.1379, 100% of volume traded below $0.1350.

    Of the traditional TA oscillators I watch, all flipped negative today. Since we had reasonable and rising volume we should give this movement some weight. Of course, there's a chance everything could reverse tomorrow, but I'm not looking for that.

    Our next potential support is around $0.125 and I'm now wondering about its strength. There's not any signs of which I'm aware that might act as a catalyst to stop this down trend.

    The Bollinger lower limit continues to drop, showing $0.1314 now and the upper limit went flat today. That's a temporary situation though unless price makes a move up, which seems unlikely ATM.

    The 5, 10, 25 and 50-day averages for the VWAPs again all continued down. Today the averages are $0.1363, $0.1394, $0.1452 and $0.1527 vs. $0.1380, $0.1400, $0.1461 and $0.1529 yesterday and $0.1394, $0.1409, $0.1470 and $0.1530 two day's ago.

    No "fishing" was noted today.

    We saw a couple notable offers, relative to our volume, in a 65K offer at $0.133 from BNCH and a 75K offer at $0.135 from NITE.

    Short percentage continued behaving as expected. Buy percentage dropped from 64.9% to 34.4% and short percentage dropped from 52.21% to 28.4%. We're seeing the normal "choppy" reversal down from the silly 60.92% on 7/14 as the short percentage starts gravitating towards a more normal, and hopefully somewhat more stable, range. As I've noted in the past, this "leg down" is usually associated with falling price and this leg seems no different in that regard.

    The larger trades (>= 15K) occurred on 10 of the 46 trades, 21.74%. These 304,500 shares were 55.69% of day's volume, and traded at a VWAP of $0.1316. 3 of the larger trades, 30.00%, were buys of 110,900 shares, 36.42% of the larger trades volume, and traded at a VWAP of $0.1324. 7 of the larger trades, 70.00%, were sells of 193,600 shares, 63.58% of the larger trades volume, and traded at a VWAP of $0.1311.

    The other 36 trades, 78.26% of the day's trades, traded 242,251 shares, 44.31% of the days volume. The VWAP was $0.1321. 12 trades, 33.33%, were buys and accounted for 77,174 shares, 31.86% of the smaller trade volume, and traded at a VWAP of $0.1338. 24 trades, 66.67%, were sells and accounted for 165,077 shares, 68.14% of the smaller trade volume, and traded at a VWAP of $0.1314.

    Here's a trading breakdown by arbitrary time-frames.
    09:31-09:34: 010000 shrs, 01.83% of vol, VWAP $0.1302, 005.3% buys
    09:38-09:55: 096100 shrs, 17.58% of vol, VWAP $0.1316, 016.8% buys
    10:06-12:01: 158250 shrs, 28.94% of vol, VWAP $0.1322, 056.4% buys
    12:02-14:05: 015201 shrs, 02.78% of vol, VWAP $0.1358, 032.9% buys
    14:19-15:29: 112200 shrs, 20.52% of vol, VWAP $0.1319, 033.2% buys
    15:40-15:42: 070000 shrs, 12.80% of vol, VWAP $0.1301, 000.0% buys
    15:44-15:44: 040000 shrs, 07.32% of vol, VWAP $0.1337, 100.0% buys
    15:57-15:58: 045000 shrs, 08.23% of vol, VWAP $0.1307, 000.0% buys

    Here's a trading breakdown by arbitrary price range. Note the last range includes only the single outlier.
    $0.1300-$0.1319: 260900 shrs, 47.72% of vol, VWAP $0.1306, 008.2% buys
    $0.1320-$0.1339: 251990 shrs, 46.09% of vol, VWAP $0.1327, 056.2% buys
    $0.1340-$0.1350: 028862 shrs, 05.28% of vol, VWAP $0.1346, 069.3% buys
    $0.1379-$0.1379: 004999 shrs, 00.91% of vol, VWAP $0.1379, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%
    07/21 $0.1318 -01.94% 34.4%

    Regarding my newer inflection point calculations, volume improved today and is between the 50 and 100-day averages of 307K and 797K respectively. So I'd give weight to the changes now. Five of the six periods are weaker, several notably so.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83
    -054.16 -0081.33 -0378.70 -0704.36 -02177.30 -07014.61

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/18/2014: EOD stuff partially copied to the concentrator.
    # Trds: 36, MinTrSz: 2, MaxTrSz: 77200, Vol: 321777, AvTrSz: 8938
    Min. Pr: 0.1330, Max Pr: 0.1398, VW Avg. Tr. Pr: 0.1344
    # Buys, Shares: 20 208909, VW Avg Buy Pr: 0.1350
    # Sells, Shares: 16 112868, VW Avg Sell Pr: 0.1334
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1.85:1 (64.92% "buys"), DlyShts 168000 (52.21%), Dly Sht % of 'sells' 148.85%

    Today's low, high, VWAP, trade volume, and daily short sales moved 11.48%, -0.14%, -00.60%, 153.77% and 1,360.87% respectively. Price spread today was 5.11% vs. 17.35% (thanks to the two $0.1193 trades), 12.53%, 10.13%, 3.37%, 3.88%, 7.84%, 6.21%, 16.19% and 18.52% on prior days.

    The $0.135 weak support, IMO, was tested for the third consecutive day. It's looking weak, even considering Wednesday's VWAP of $0.1398 with a range of $0.1333 - $0.1500 (100K, ~22% of day;s volume). ~28% traded at or below $0.1359.

    Yesterday, Thursday, was a low-volume day so we wouldn't give its behavior a lot of weight. It ranged from $0.1193 (two trades at the open totaling 2.2K - a better low would be $0.1335) to $0.1400 (three totaling 15.2K) and ended with a VWAP of $0.1353. Checking the trading breakdowns we see 60.1% traded below $0.135.

    Today, even with "decent" volume for us, 73.15% of volume traded below $0.1350. Another 20.64% traded right at $0.1350. This with 64.92% buys.

    The result is we now have a three-day string of increasing percentages of trading below the $0.135x range on both rising and falling volumes and buy percentages.

    See the notes in the trading breakdowns by time and by price for a couple of additional notable numbers.

    On the traditional TA front, beyond just the oscillators I watch, discounting Thursday's $0.1193 outliers and using $0.1335 as the real low, six of the last eight days have had lower lows. Today we add two consecutive days of lower highs.

    The 10 and 20-day price averages continue falling. The trading lows are approaching the slowly rising 200-day SMA of $0.1318.

    The Bollinger limits both continue to drop, showing $0.1558 and $0.1337 now.

    Of the traditional TA oscillators I watch, we are less mixed today. All but the ADX related, which continues to weaken, have marginal ticks up again. But all but full stochastic are still well below neutral and shouldn't be seen as "bullish", just "less weak". Some of this "less weak" may be due to the relatively low volume seen recently.

    The 5, 10, 25 and 50-day averages for the VWAPs have switched from three down and the 50-day rising (1/100th penny again) to all down again. Today the averages are $0.1380, $0.1400, $0.1461 and $0.1529, versus yesterday's $0.1394, $0.1409, $0.1470 and $0.1530.

    The ARCA oddity continues, appearing pre-market today both sides. The sell side went away by 10:20 and the buy side left by 11:21.

    We had one outlier, the last trade today, a buy of 5K shares for $0.1398 at 15:54:54. I'm not real sure how much of an outlier it was though because there were also three buys at $0.1378 - one for 7 shares at 14:45 (appears to be "locking up" a 10K trade that completed later), one for 5K shares at 15:53:36, and one for 9,993 shares (paired with the 7 shares?) at 15:54:00.

    Was the $0.1398 just a determined "buy regardless" trade or a cheap painting of the EOD tape to display bullishness? If you look at the trading breakdown by time you see the 15:00 - 15:54 time-frames had VWAPs of $0.1350, $0.1337 and $0.1383. So the $0.1378 and $0.1398 both would appear to be "outliers". Checking the breakdown by price, the $0.1378 - $0.1398 price range is only 20K shares, 6.22% of days volume. Assuming a bell curve, ...

    Two 100 share trades, one buy and one sell at $0.1350 and $0.1330 respectively, may have been "lures" today - both were in the last 35 minutes of the session after a 45 minute period of no trading, in the first case.

    We did not see outrageously large, or even notably large, bids or offers today.

    I noted yesterday short percentage continued behaving as expected. Today as buy percentage moved from 24.9% to 64.9%, daily short percentage went from 9.07% to 52.21%. Recall that Monday we had buy and short percentages of 91.4% and 60.92% respectively. Then we saw two days of falling daily short, as is common regardless of buy percentage when daily short hits nosebleed altitudes and volume is low, and now we've got a tick up. This is the normal follow-on "choppy" behavior as things start returning to normal and work off the excesses of one leg, down or up, and make a choppy leg in the opposite direction.

    The larger trades (>= 15K) occurred on 4 of the 36 trades, 11.11%. These 149,000 shares were 46.31% of day's volume, and traded at a VWAP of $0.1343. 3 of the larger trades, 75.00%, were buys of 129,000 shares, 86.58% of the larger trades volume, and traded at a VWAP of $0.1345. 1 of the larger trades, 25.00%, were sells of 20,000 shares, 13.42% of the larger trades volume, and traded at a VWAP of $0.1330.

    The other 32 trades, 88.89% of the day's trades, traded 172,777 shares, 53.69% of the days volume. The VWAP was $0.1346. 17 trades, 53.13%, were buys and accounted for 79,909 shares, 46.25% of the smaller trade volume, and traded at a VWAP of $0.1358. 15 trades, 46.88%, were sells and accounted for 92,868 shares, 53.75% of the smaller trade volume, and traded at a VWAP of $0.1335.

    Here's a trading breakdown by arbitrary time-frames. Note that the period ending at 12:21 included one of our four larger trades, a buy of 20K for $0.1330, and the period beginning 12:53 included the 77.2K buy at that minute for $0.139. The period beginning 14:41 included the buys of 21.5K for $0.1350 and 30.3K for $0.1330.
    09:37-09:37: 006450 shrs, 02.00% of vol, VWAP $0.1350, 100.0% buys
    11:10-12:21: 079191 shrs, 24.61% of vol, VWAP $0.1333, 014.1% buys
    12:53-14:20: 115400 shrs, 35.86% of vol, VWAP $0.1349, 087.0% buys
    14:41-14:45: 051807 shrs, 16.10% of vol, VWAP $0.1338, 100.0% buys
    15:06-15:37: 019127 shrs, 05.94% of vol, VWAP $0.1350, 099.9% buys
    15:46-15:46: 015100 shrs, 04.69% of vol, VWAP $0.1337, 000.0% buys
    15:53-15:54: 019993 shrs, 06.21% of vol, VWAP $0.1383, 100.0% buys

    Here's a trading breakdown by arbitrary price range. Note all our larger trades today, plus a 14,150 share buy for $0.1349, traded at $0.1350 or lower. See above.
    $0.1330-$0.1331: 116127 shrs, 36.09% of vol, VWAP $0.1330, 026.1% buys
    $0.1340-$0.1349: 119250 shrs, 37.06% of vol, VWAP $0.1348, 081.5% buys
    $0.1350-$0.1350: 066400 shrs, 20.64% of vol, VWAP $0.1350, 092.5% buys
    $0.1378-$0.1398: 020000 shrs, 06.22% of vol, VWAP $0.1383, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%
    07/18 $0.1344 -00.60% 64.9%

    Regarding my newer inflection point calculations, volume improved today but is still somewhat low. So I'd give more weight to the changes, but not yet a lot. Yesterday the three longer periods went from flat to negative today, as was suggested by the shorter periods the prior day. The prior day was very low volume and it's not surprising to see today's readings with all periods improved. I have to think it's still just "noise".
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45
    -015.30 -0086.32 -0344.92 -0641.01 -02021.59 -06782.83

    "Dly Sht % of 'sells'" and inflection point changes here are are in the latest daily post above.

    07/17/2014: EOD stuff partially copied to the concentrator.
    # Trds: 25, MinTrSz: 100, MaxTrSz: 18200, Vol: 126800, AvTrSz: 5072
    Min. Pr: 0.1193, Max Pr: 0.1400, VW Avg. Tr. Pr: 0.1353
    # Buys, Shares: 11 31600, VW Avg Buy Pr: 0.1395
    # Sells, Shares: 14 95200, VW Avg Sell Pr: 0.1339
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:3.01 (24.92% "buys"), DlyShts 11500 (09.07%), Dly Sht % of 'sells' 12.08%

    We had two outliers at the open today - sells of 200 and then 2K for $0.1193. The next lowest-priced trades, and they had multiple trades and some volume, were at $0.1335 and higher. Without these two trades the day's low could be reasonably considered to be $0.1335, although this was the single larger trade of the day at 18.2K. Next up were a couple at $0.1336.

    We had four "lures" today - three 100 share buys at $0.1389 and one 100 share buy at $0.1399.

    We did not see ATDF come with a 137.5K at $0.14 offer again. Don't know if they changed their mind or sold it in smaller chunks, at lower prices or what.

    The $0.135 is now being tested as yesterday we went below it, even ignoring those two outliers, and came back to and above it. But it was very low volume, a low buy percentage and I have stated I don't expect it is a strong support level. A few days should tell the story.

    The ARCA oddity continues, appearing pre-market today both sides and disappearing at the open from both sides.

    Short percentage continues behaving as expected as buy percentage drops, so does short percentage.

    The 5, 10, 25 and 50-day averages for the VWAPs again have three down. Today the falling 5, 10, 25-day averages and the rising (1/100th penny again) 50-day average are $0.1394, $0.1409, $0.1470 and $0.1530 compared to yesterday's $0.1408, $0.1418, $0.1477 and $0.1529, and the prior $0.1420, $0.1420, $0.1483 and $0.1528 respectively.

    There was only one larger trade, a sell of 18.2K for $0.1335 at 13:42.

    On the traditional TA front, beyond just the oscillators I watch, the third consecutive day of lower lows (unless we discount the two outliers totally) suggest the continuation of weakening.

    In conjunction with all that, the price 10 and 20-day averages continue falling.

    Of the traditional TA oscillators I watch, we are still mixed today. The RSI,MFI and ADX related are weaker and the full stochastic, Williams %R and momentum have marginal ticks up.

    The Bollinger limits both continue to drop, showing $0.1570 and $0.1339 now.

    Today's low, high, VWAP, trade volume, and daily short sales moved -10.50%, -6.67%, -03.25%, -71.97% and -80.33% respectively. Price spread today was 17.35% (thanks to the two $0.1193 trades) vs. 12.53%, 10.13%, 3.37%, 3.88%, 7.84%, 6.21%, 16.19%, 18.52% and 7.07% on prior days.

    If we remove those two outliers and use $0.1335 as our low, the low movement would be +0.15% instead of the -10.5% we saw. The spread would be 4.87% instead of 12.53%.

    Here's a trading breakdown by arbitrary time-frames. Note that the first entry includes only the two outliers and the last two entries are single trades.
    09:30-09:30: 002200 shrs, 01.74% of vol, VWAP $0.1193, 000.0% buys
    09:43-10:56: 015200 shrs, 11.99% of vol, VWAP $0.1400, 100.0% buys
    11:00-11:37: 040100 shrs, 31.62% of vol, VWAP $0.1344, 000.2% buys
    11:50-13:38: 015300 shrs, 12.07% of vol, VWAP $0.1389, 100.0% buys
    13:41-13:56: 049000 shrs, 38.64% of vol, VWAP $0.1340, 000.0% buys
    14:57-14:57: 001000 shrs, 00.79% of vol, VWAP $0.1391, 100.0% buys
    15:52-15:52: 004000 shrs, 03.15% of vol, VWAP $0.1350, 000.0% buys

    Here's a trading breakdown by arbitrary price range. Note that the first entry includes only the two outliers.
    $0.1193-$0.1193: 002200 shrs, 01.74% of vol, VWAP $0.1193, 000.0% buys
    $0.1335-$0.1341: 074000 shrs, 58.36% of vol, VWAP $0.1338, 000.0% buys
    $0.1350-$0.1375: 019000 shrs, 14.98% of vol, VWAP $0.1357, 000.0% buys
    $0.1389-$0.1399: 016400 shrs, 12.93% of vol, VWAP $0.1389, 100.0% buys
    $0.1400-$0.1400: 015200 shrs, 11.99% of vol, VWAP $0.1400, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%
    07/17 $0.1353 -10.50% 24.9%

    Regarding my newer inflection point calculations, volume weakened today, so I'd give less weight to the changes. Yesterday we had the three shortest periods weakened and the three longer periods essentially flat, even though showing minuscule improvement. I noted the 5-day had a relatively large change and suggests that the next two periods will show an increasing weakness going forward.

    Today they do and three longer periods went from flat to negative today. Keep in mind the low volume and weigh these changes accordingly.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67
    -039.07 -0107.82 -0364.54 -0727.31 -02092.50 -07044.45

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/16/2014: EOD stuff partially copied to the concentrator.
    # Trds: 50, MinTrSz: 400, MaxTrSz: 66257, Vol: 452300, AvTrSz: 9046
    Min. Pr: 0.1333, Max Pr: 0.1500, VW Avg. Tr. Pr: 0.1398
    # Buys, Shares: 8 130714, VW Avg Buy Pr: 0.1355
    # Sells, Shares: 42 321586, VW Avg Sell Pr: 0.1416
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:2.46 (28.90% "buys"), DlyShts 58457 (12.92%), Dly Sht % of 'sells' 18.18%

    Odd trading today as at the open we had seventeen consecutive sells at $0.15 for 100K shares. I think this might have been the CDEL 100K offer being depleted as we know it had been offered as low as $0.145 during the last week or so. Some additional thoughts, intra-day are in this comment.

    Unfortunately, ATDF came with a 137.5K offer at $0.14 at 15:33, dashing hopes that the larger selling might be over. Let's hope it doesn't appear again tomorrow.

    Anyway, the next two trades at 9:53/4 dropped to $0.1410 for 15K and pps trended lower bottoming at $0.1333 at 11:29. But we never recovered, peaking at $0.1389 at 15:26 - 15:33, except for the somewhat usual "support" trade near EOD - a buy of 2k for $0.1399 at 15:46, our closing trade.

    Yesterday we saw the predicted VWAP move below $0.14 and we were awaiting the predicted close below $0.14 predicted for this week. We got that and now my concern shifts to whether or not the potential weak(?) support at $0.135 will materialize.

    Today it was penetrated and price came back above it. But it did not do so with conviction and I expect further tests of this will break below it within a short time.

    The ARCA oddity continues, appearing pre-market today only on the buy side with a bid at $0.136 for 10K for the third consecutive day followed by removal of the bid at the open.

    I didn't see any "lures" today, probably because the short-term goals were met with the string of $0.15 trades at $0.15 at the open.

    Short percentage continues behaving as expected as buy percentage drops, so does short percentage.

    The 5, 10, 25 and 50-day averages for the VWAPs again have three down. Today the falling 5, 10, 25-day averages and the rising (1/100th penny again) 50-day average are $0.1408, $0.1418, $0.1477 and $0.1529, compared to the prior $0.1420, $0.1420, $0.1483 and $0.1528 respectively.

    The larger trades (>= 15K) occurred on 6 of the 50 trades, 12.00%. These 214,157 shares were 47.35% of day's volume, and traded at a VWAP of $0.1386. 2 of the larger trades, 33.33%, were buys of 96,257 shares, 44.95% of the larger trades volume, and traded at a VWAP of $0.1347. 4 of the larger trades, 66.67%, were sells of 117,900 shares, 55.05% of the larger trades volume, and traded at a VWAP of $0.1418.

    The other 44 trades, 88.00% of the day's trades, traded 238,143 shares, 52.65% of the days volume. The VWAP was $0.1409. 6 trades, 13.64%, were buys and accounted for 34,457 shares, 14.47% of the smaller trade volume, and traded at a VWAP of $0.1376. 38 trades, 86.36%, were sells and accounted for 203,686 shares, 85.53% of the smaller trade volume, and traded at a VWAP of $0.1414.

    On the traditional TA front, beyond just the oscillators I watch, a few trends are worth noting. The first is that as our former support and resistance point of $0.15 was touched today with the spate of 17 sells at the open, price immediately retreated to $0.1401 and continued to drop as described above. Further, my longer-term descending resistance achieved $0.15, AFAICT, and it is likely to continue to have effect going forward, sans a catalyst. I expect it to be a strong resistance as it has an origin and six subsequent touches, including two intra-day penetrations, and retreated back below the line in every case.

    We had our first test of the expected weak support at $0.135 with an intra-day penetration to $0.1333 followed by a weak recovery above $0.135. I don't expect this price to hold for long. The second consecutive day of lower lows suggest the continuation of weakening.

    In conjunction with all that, we have the price 10 and 20-day averages falling with the 10-day leading. The 50-day will remain flattish for another week or so, if we stay steady in this range, and it will then begin to weaken too.

    Of the traditional TA oscillators I watch, we are still in a mixed bag today, even with improved volume. But it's the first day of improving volume, so no trend can be guessed at and not to much weight should be assigned to the oscillator behavior.

    The Bollinger limits both continue to drop, showing $0.1576 and $0.1353 for the upper and lower limits respectively, and price action is continuing to force both lower.

    Today's low, high, VWAP, trade volume, and daily short sales moved -2.13%, 0.00%, -00.09%, 479.69% and 58.42% respectively. Price spread today was 12.53% vs. 10.13%, 3.37%, 3.88%, 7.84%, 6.21%, 16.19%, 18.52%, 7.07% and 5.08% on prior days.

    Here's a trading breakdown by arbitrary time-frames. Note the first entry reflects only the 17 sells at the open.
    09:30-09:30: 100000 shrs, 22.11% of vol, VWAP $0.1500, 000.0% buys
    09:53-10:01: 045000 shrs, 09.95% of vol, VWAP $0.1408, 022.2% buys
    10:06-10:19: 080000 shrs, 17.69% of vol, VWAP $0.1364, 000.0% buys
    10:44-10:44: 042700 shrs, 09.44% of vol, VWAP $0.1390, 000.0% buys
    10:54-11:29: 061700 shrs, 13.64% of vol, VWAP $0.1343, 066.8% buys
    12:00-12:46: 086257 shrs, 19.07% of vol, VWAP $0.1353, 078.3% buys
    15:26-15:46: 036643 shrs, 08.10% of vol, VWAP $0.1390, 032.7% buys

    Here's a trading breakdown by arbitrary price range. Note the last entry contains only the 17 sells at the open for $0.15.
    $0.1333-$0.1333: 041200 shrs, 09.11% of vol, VWAP $0.1333, 100.0% buys
    $0.1353-$0.1359: 086257 shrs, 19.07% of vol, VWAP $0.1353, 078.3% buys
    $0.1361-$0.1362: 090500 shrs, 20.01% of vol, VWAP $0.1361, 000.0% buys
    $0.1380-$0.1399: 089343 shrs, 19.75% of vol, VWAP $0.1389, 013.4% buys
    $0.1406-$0.1410: 045000 shrs, 09.95% of vol, VWAP $0.1408, 022.2% buys
    $0.1500-$0.1500: 100000 shrs, 22.11% of vol, VWAP $0.1500, 000.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%
    07/16 $0.1398 -00.09% 28.9%

    Regarding my newer inflection point calculations, volume improved today so I'll give a tad more weight to the changes. Yesterday had the two shortest periods improved, marginally except for the 5-day, and the other four weakened. Today we have the three shortest periods weakened and the three longer periods essentially flat, even though showing minuscule improvement. Notable in the shorter periods is that the 5-day has a relatively large change and suggests that the next two periods will show an increasing weakness going forward.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63
    -034.35 -0086.59 -0355.65 -0678.28 -01893.01 -06393.67

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/15/2014: EOD stuff partially copied to the concentrator.
    # Trds: 17, MinTrSz: 100, MaxTrSz: 32900, Vol: 78025, AvTrSz: 4590
    Min. Pr: 0.1362, Max Pr: 0.1500, VW Avg. Tr. Pr: 0.1399
    # Buys, Shares: 8 39800, VW Avg Buy Pr: 0.1403
    # Sells, Shares: 9 38225, VW Avg Sell Pr: 0.1395
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1.04:1 (51.01% "buys"), DlyShts 36900 (47.29%), Dly Sht % of 'sells' 96.53%

    Last week I said that sans a catalyst, I suspected $0.14 will be breached on the close next [now this] week. I thought today was going to do it until the last seven minutes in the day when the bid came up to $0.14/$0.1401 (had sat at $0.1381 x 10K since 13:04 from ATDF) and we got a sell of 1K for $0.14 at 15:53.

    I also suggested that as we retreated from the very high daily short percentage we would see VWAP move below $0.14. That did occur today, in spite of the "lures" (described below) attempting to get trading going around $0.15.

    With the traditional TA stuff showing weakness, buy percentage generally remaining low (leaving yesterday's aberration behind and starting to return to trend?), daily short percentage in a down leg now, low volume, and our history, I see no reason yet to modify those views.

    We had the 100K offer from CDEL for $0.15 again.

    We again saw an oddity with ARCA appearing pre-market, but only on the buy side today. They bid $0.136 for 10K, the same as the prior day. The bid disappeared at the open, which is a change from the prior couple days.

    We had four "lures" today, two buys of 100 shares for $0.15 at 9:47 and 9:49, a buy for 100 shares for $0.1499 at 9:53, and a buy of 100 shares for $0.1443 at 12:49. These were "unique" prices not seen again during the session.

    Without these our high would be $0.1438 (2.5K at 10:12).

    The short percentage again behaved as it should when the buy percentage moved from yesterday's 91.42% to 51.01% today. Short percentage moved from 60.92% to 47.29% today. I have mentioned as short percentage began to fall that was likely when our share price would move VWAP into the $0.13xx range and our close(s) will drop below $0.14. Part one is done - VWAP today moved from yesterday's $0.1406 to $0.1399 today.

    Part two was prevented by the bid going to $0.14 and $0.1401 in the last seven minutes. A 1K sell for $0.14 may have saved the day.

    The only "outliers" today were the "fishing lures" described above.

    For the 5, 10, 25 and 50-day averages for the VWAPs, yesterday we had two up and two down changes. This suggested "noise" and I thought we would want to wait and see if a trend returns. Today we have three down again - maybe the starting to continue the down trend again? Today the falling 5, 10, 25-day averages and the rising (1/100th penny) 50-day average are $0.1420, $0.1420, $0.1483 and $0.1528 respectively.

    The only larger trade was a buy of 32.9K for $0.14 at 12:17.

    Of the traditional TA oscillators I watch, we are back to a mixed bag today, thanks again to the anemic volume. As I said yesterday, with on-going low volume it would be risky to be making any short-term bets and now today it's not even worth discussing what's up, down or flat in the oscillators.

    There are some things "down" I want to mention though. If we throw out our "lures", and use $0.1438 as our high, we would have highs falling for the third consecutive day, along with a lower low today.

    The lower Bollinger limit continues to drop, now down from $0.1377 to $0.1366 to now $0.1359. The upper limit has gone from $0.16 to $0.1592 and now $0.1585. Our low today, $0.1362, was barely above the lower limit.

    Today's low, high, VWAP, trade volume, and daily short sales moved -2.30%, 4.09%, -00.51%, -25.62% and -42.25% respectively. Price spread today was 10.13% vs. 3.37%, 3.88%, 7.84%, 6.21%, 16.19%, 18.52%, 7.07%, 5.08% and 14.29% on prior days.

    If we remove our "fishing lures" and use $0.1438 as our high, the high and spread changes go to -0.21% and 5.58% instead of the 4.09% and 10.13% we got.

    Here's a trading breakdown by arbitrary time-frames. Note the second entry reflects five trades, four of which where our 100 share "lures" at $0.15 (2), $0.1499 and $0.1438.
    09:30-09:41: 010500 shrs, 13.46% of vol, VWAP $0.1397, 000.0% buys
    09:47-10:12: 002900 shrs, 03.72% of vol, VWAP $0.1444, 096.6% buys
    11:39-11:48: 028875 shrs, 37.01% of vol, VWAP $0.1397, 013.9% buys
    12:09-15:53: 035750 shrs, 45.82% of vol, VWAP $0.1398, 092.3% buys

    Here's a trading breakdown by arbitrary price range. Note the last entry contains three of the four "lures" today and the prior entry contains the other.
    $0.1362-$0.1393: 017525 shrs, 22.46% of vol, VWAP $0.1389, 000.0% buys
    $0.1400-$0.1401: 057500 shrs, 73.69% of vol, VWAP $0.1400, 064.2% buys
    $0.1438-$0.1443: 002700 shrs, 03.46% of vol, VWAP $0.1438, 096.3% buys
    $0.1499-$0.1500: 000300 shrs, 00.38% of vol, VWAP $0.1500, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%
    07/15 $0.1399 -00.51% 51.0%

    Regarding my newer inflection point calculations, volume tanked again, making any reliance on these movements risky. Typical of "noisiness", we switched from five of six periods weakened two days ago to five of six improved yesterday to today's two shortest periods improved and the other four weakened.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -143.86 -0210.39 -0330.08 -0757.17 -02422.62 -06919.24
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09
    -021.38 -0085.63 -0343.98 -0679.05 -01908.65 -06503.63

    "Dly Sht % of 'sells'" and inflection point changes here are are in the latest dailypost above.

    07/14/2014: EOD stuff partially copied to the concentrator.
    # Trds: 9, MinTrSz: 1000, MaxTrSz: 50000, Vol: 104900, AvTrSz: 11656
    Min. Pr: 0.1394, Max Pr: 0.1441, VW Avg. Tr. Pr: 0.1406
    # Buys, Shares: 7 95900, VW Avg Buy Pr: 0.1407
    # Sells, Shares: 2 9000, VW Avg Sell Pr: 0.1396
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 10.66:1 (91.42% "buys"), DlyShts 63900 (60.92%), Dly Sht % of 'sells' 710.00%

    Note the high buy percentage today was predominately an effect of two larger trades, detailed later, and few additional trades with an aggregate low volume. Don't be mislead by the buy percentage.

    But do note the short percentage behaved as it should when the buy percentage is this high ... in spades! I suspect a large portion of those two large buys at $0.14 were a substantial portion of the short volume today. If so, as a little volume returns the short percentage should start to return, haltingly at least, towards more normal (for our situation) levels and overshoot, if past behavior is any indication. This is likely when our share price will move VWAP into the $0.13xx range and our close(s) will drop below $0.14.

    Volume tanked again and the VWAP decreased -00.37% in spite of the strength suggested by that buy percentage. The only reason buy percentage is that high is that someone dropped the offer to $0.14 at 10:31 and about 67% of the day's volume went off in two buys at $0.14. The rest of the day also stunk up the joint even though there were only two sells in our 10 trades. The offers began low and stayed low.

    The large offer at $0.145 of 354K shares from CDEL was absent today. But we did get a 100K offer from CDEL for $0.15.

    We again saw an oddity with ARCA appearing pre-market on both sides, bidding $0.136 for 10K and offering 11K at $0.1441. Both of these were lower prices than the prior day. At the open the sell side again disappeared. The buy side again hung in all day, but had no chance.

    I initially thought the recently seen aggressive vying for best offer between NITE and ATDF returned today. It just fizzled though. ATDF spent the majority of the day as best on both sides.

    There were no "outliers" today.

    Yesterday we returned, almost 100%, to the downward trend in the VWAP averages with only the 50-day average avoiding a drop by remaining flat at $0.1525. Today, two up, two down suggests just noise going on for the moment. We'll have to wait for a trend to return I guess. Readings for the 5, 10, 25 and 50-day averages are $0.1426, $0.1427, $0.1491 and $0.1527 respectively.

    There were only two larger trades, both buys, one of 20K for $0.14 at 10:27 and one of 50K for $0.14 at 10:32. They accounted for 66.73% of the day's volume. They were also at the low of the day along with a 3K sell for $0.14 at 14:03, the closing trade.

    Of the traditional TA oscillators I watch, we have less of a mixed bag today. There's none flat now. Most are weaker - full stochastic (going into oversold tomorrow, probably), ADX related, Williams %R (teetering right at oversold), momentum and RSI, which was flat. MFI continued its small up tick. With on-going low volume it would be risky to be making any short-term bets.

    The lower Bollinger limit continues to drop, now down from $0.1377 to $0.1366. The upper limit transitioned from flat, at $0.16, to beginning a fall today with a reading of $0.1592. It should pick up steam heading lower unless some catalyst pops the share price.

    Yesterday I said that sans a catalyst, I suspected $0.14 will be breached on the close next [now this] week. With the highs continuing down for the second consecutive day, the traditional TA stuff showing weakness, and our history, I see no reason yet to modify that view.

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.29%, -0.21%, -00.37%, -24.04% and 131.52% respectively. Price spread today was 3.37% vs. 3.88%, 7.84%, 6.21%, 16.19%, 18.52%, 7.07%, 5.08%, 14.29% and 7.78% on prior days.

    No trading breakdowns today - I have trouble seeing any rational on it for 10 trades. Even the ones I did with 15 trades or so were marginal utility IMO.

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%
    07/14 $0.1406 -00.37% 91.4%

    Regarding my newer inflection point calculations, volume tanked again. Typical of "noisiness", we switched from five of six periods weakening yesterday to five of six improving today. Yesterday I said we could cautiously read bearishness into yesterday's changes, but it seems prudent to wait and see if we are trending or just getting low-volume noise. Now we know.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -143.86 -0210.39 -0330.08 -0757.17 -02422.62 -06919.24
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66
    -022.66 -0152.87 -0307.35 -0625.26 -01893.73 -06289.09

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/11/2014: EOD stuff partially copied to the concentrator.
    # Trds: 15, MinTrSz: 100, MaxTrSz: 30000, Vol: 138100, AvTrSz: 9207
    Min. Pr: 0.1390, Max Pr: 0.1444, VW Avg. Tr. Pr: 0.1412
    # Buys, Shares: 4 29600, VW Avg Buy Pr: 0.1428
    # Sells, Shares: 11 108500, VW Avg Sell Pr: 0.1407
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:3.67 (21.43% "buys"), DlyShts 27600 (19.99%), Dly Sht % of 'sells' 25.44%

    Volume improved from yesterday's 75K and 10 trades to 14 trades and ~138K, thanks to three larger trades. Unfortunately VWAP declined 1% even as the buy percentage improved to 21.4% from yesterday's 16.78%. Not surprising, I guess, since 21.4% buys is really no great shakes either.

    The large offer at $0.145 of 354K shares from CDEL was absent today.

    We again saw an oddity with ARCA appearing pre-market on both sides, bidding $0.1352 for 5K and offering 31.9K at $0.147. At the open the sell side disappeared. The buy side hung in all day, but had no chance.

    The recently seen aggressive vying for best offer between NITE and ATDF returned today. But today it looked not so much like a contest to be on top as it seemed like NITE messing with the mind of ATDF. >:} See the thread in the APC starting here for more details.

    Daily short sales percentage directional correlation with buy percentage "behaved" better as the buy percentage improved. The short percentage recovered from yesterday's aberration of 0.80% to 19.99%.

    The only "outlier" today was due to superlatives: the first trade, the largest trade, 30K, and lowest price of the day, $0.1390. Other than that, nothing special - next highest prices came in at $0.1405, $0.1406, ... The next largest trade was 20K at $0.1430, roughly mid-range of the day's low and high.

    Yesterday I noted we had a break, significance unknown yet, in the 5, 10, 25 and 50-day VWAP averages, which had been all descending. They improved slightly. ACK! Today we returned, almost 100% to the downward trend with only the 50-day average avoiding a drop by remaining flat at $0.1525. The 5, 10 and 25-day averages weakened and are now $0.1421, $0.1437 and $0.1498 respectively.

    The larger trades (>= 15K) occurred on 3 of the 15 trades, 20.00%. These 66,000 shares were 47.79% of day's volume, and traded at a VWAP of $0.1406. 1 of the larger trades, 33.33%, were buys of 20,000 shares, 30.30% of the larger trades volume, and traded at a VWAP of $0.1430. 2 of the larger trades, 66.67%, were sells of 46,000 shares, 69.70% of the larger trades volume, and traded at a VWAP of $0.1396.

    The other 12 trades, 80.00% of the day's trades, traded 72,100 shares, 52.21% of the days volume. The VWAP was $0.1417. 3 trades, 25.00%, were buys and accounted for 9,600 shares, 13.31% of the smaller trade volume, and traded at a VWAP of $0.1425. 9 trades, 75.00%, were sells and accounted for 62,500 shares, 86.69% of the smaller trade volume, and traded at a VWAP of $0.1416.

    Of the traditional TA oscillators I watch, we have a mixed bag. There's a few flat - Williams %R, momentum and RSI. A couple are weaker - full stochastic and ADX related. One has a tiny uptick - MFI. With on-going low volume and relatively high price volatility, this somewhat directionless behavior should be expected I guess.

    The lower Bollinger limit continues to drop, now at $0.1377.

    The intra-day low dropped to $0.139 from yesterday's $0.1391. Sans a catalyst, I suspect $0.14 will be breached on the close next week.

    Today's low, high, VWAP, trade volume, and daily short sales moved -0.07%, -3.73%, -01.00%, 83.89% and 4500.00% respectively. Price spread today was 3.88% vs. 7.84%, 6.21%, 16.19%, 18.52%, 7.07%, 5.08%, 14.29%, 7.78% and 1.67% on prior days.

    Here's a trading breakdown by arbitrary time-frames. Note the first entry is a single trade, the largest and the lowest priced of the day.
    09:46-09:46: 030000 shrs, 21.72% of vol, VWAP $0.1390, 000.0% buys
    10:53-11:06: 016500 shrs, 11.95% of vol, VWAP $0.1444, 012.1% buys
    13:38-13:39: 010100 shrs, 07.31% of vol, VWAP $0.1406, 001.0% buys
    14:05-14:12: 028000 shrs, 20.28% of vol, VWAP $0.1406, 000.0% buys
    15:09-15:42: 027500 shrs, 19.91% of vol, VWAP $0.1427, 100.0% buys
    15:46-15:49: 026000 shrs, 18.83% of vol, VWAP $0.1408, 000.0% buys

    Here's a trading breakdown by arbitrary price range. Note the first entry is a single trade, the largest and the lowest priced of the day.
    $0.1390-$0.1390: 030000 shrs, 21.72% of vol, VWAP $0.1390, 000.0% buys
    $0.1405-$0.1408: 063500 shrs, 45.98% of vol, VWAP $0.1407, 000.0% buys
    $0.1420-$0.1430: 028100 shrs, 20.35% of vol, VWAP $0.1427, 098.2% buys
    $0.1443-$0.1444: 016500 shrs, 11.95% of vol, VWAP $0.1444, 012.1% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%
    07/11 $0.1412 -01.00% 21.4%

    Regarding my newer inflection point calculations, volume came up a bit today and we continued the weakening started yesterday with today having five of six periods weakening. We still don't know if we'll just go back to a period of "noise" or we'll start to see a trend. Similar to yesterday's 10 trades and 75K shares traded, today we had only 15 trades and ~138K shares traded, with volume improved thanks to three larger trades. We could cautiously read bearishness into today's changes, but it seems prudent to wait and see if we are trending or just getting low-volume noise.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -098.54 -0146.79 -0210.95 -0611.03 -02107.24 -06343.32
    -143.86 -0210.39 -0330.08 -0757.17 -02422.62 -06919.24
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52
    -066.14 -0170.92 -0317.77 -0683.09 -01914.60 -06285.66

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/10/2014: EOD stuff partially copied to the concentrator.
    # Trds: 10, MinTrSz: 500, MaxTrSz: 30000, Vol: 75100, AvTrSz: 7510
    Min. Pr: 0.1391, Max Pr: 0.1500, VW Avg. Tr. Pr: 0.1426
    # Buys, Shares: 3 12600, VW Avg Buy Pr: 0.1448
    # Sells, Shares: 7 62500, VW Avg Sell Pr: 0.1421
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:4.96 (16.78% "buys"), DlyShts 600 (00.80%), Dly Sht % of 'sells' 0.96%

    The effects of the announcement of a new CEO and board chairman appointment seems to abating. Volume tanked to about 75K and 10 trades, totaling $10,708.55, and buy percentage dropped further to 16.78% from 36.2% yesterday and 47.1% before that.

    The large offer at $0.145 of 354K shares from CDEL returned again today.

    An oddity seen today was ARCA appearing pre-market on both sides, bidding $0.1311 for 11K and offering 16K at $0.16. At the open both disappeared.

    The aggressive vying for best offer between NITE and ATDF seen the prior two days was not present today.

    Daily short sales percentage directional correlation with buy percentage continued to "behave" as the severely reduced buy percentage, 36.17% to 16.78%, was accompanied by a severely reduced daily short percentage, 32.97% to 0.80%. Note that the majority of this reduction is likely due to the reduced volume combined with ~220K to ~500K volume over the last three days combined with short percentages ~33% to ~43% and price spreads that offered plenty of covering buy opportunities. That means the shares backing sell orders flow in making the MMs long at low cost. I mention this because this degree of change in short percentage is extremely unusual relative to the movement in the buy percentage.

    There were two "outliers" today but with only ten trades and 75K shares traded and $10,708.55 in trades, we really can't give the usual jaundiced eye to them. Anyway, the low of $0.1391 was a single 7.5K sell, the second trade of the day, and the high was a single 5K sell at $0.1500 at 9:30, the first trade of the day.

    Recent VWAPs oldest through today: $0.1478, $0.1411, $0.1447, $0.1430, $0.1379, $0.1431, $0.1456 and $0.1426.

    Yesterday I noted we had a break, significance unknown yet, in the 5, 10, 25 and 50-day VWAP averages, which had been all descending. The 5-day improved from $0.1419 and the 50-day was flat. Today the prior trend of all weakening returned. Today they are $0.1424, $0.1448, $0.1505 and $0.1525 for the 5, 10, 25 and 50-day VWAP averages respectively.

    There was only one larger trade, a 30K buy for $0.1430. It was 39.95% of the day's volume.

    Of the traditional TA oscillators I watch, all but ADX related reversed course, going from up-ticks to weakening. With my thinking the effects of the CEO PR are wearing off, I'm inclined to give a small amount of credence to these moves. However, with abysmal volume I'm going to hold off on that.

    The price action pushing the lower Bollinger limit finally had effect as it has started to drop again. That limit has now moved to $0.1388.

    The intra-day low, which had stayed at $0.14 or slightly better 5 of the last 8 days, dropped to $0.1391 today. In conjunction with that behavior, the descending resistance was challenged by three intra-day highs of $0.16 during this period and held. Moreover, the remaining days' highs in that period challenged our known resistance at $0.15 and were rebuffed each time.

    With all the above behavior over a string of days and the new CEO PR effects apparently abating I believe this is bearish regardless of the very low volumes. Only the very low volume keeps the confidence level of this assessment down.

    Today's low, high, VWAP, trade volume, and daily short sales moved -0.71%, 0.81%, -2.10%, -77.68% and -99.46% respectively. Price spread today was 7.84% vs. 6.21%, 16.19%, 18.52%, 7.07%, 5.08%, 14.29%, 7.78%, 1.67% and 6.60% on prior days.

    No trading breakdowns today.

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%
    07/10 $0.1426 -02.10% 16.8%

    Regarding my newer inflection point calculations, volume tanked today and we switched from two consecutive days of all periods improved to all periods weaker. It looks like the effects of the announcement of the new CEO and board chairman appointment are wearing off. We don't know if we'll just go back to a period of "noise" or we'll start to see a trend. So we exit the waiting a few days for the announcement effects to abate and enter a period of waiting a couple days to see if a trend develops or we just get noise. With only 10 trades and 75K shares traded we certainly don't yet read anything into today's changes.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -104.97 -0139.46 -0223.90 -0589.67 -02102.07 -06296.39
    -098.54 -0146.79 -0210.95 -0611.03 -02107.24 -06343.32
    -143.86 -0210.39 -0330.08 -0757.17 -02422.62 -06919.24
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70
    -061.59 -0161.27 -0303.10 -0692.72 -01837.22 -06167.52

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/09/2014: EOD stuff partially copied to the concentrator.
    # Trds: 50, MinTrSz: 100, MaxTrSz: 40000, Vol: 336501, AvTrSz: 6730
    Min. Pr: 0.1401, Max Pr: 0.1488, VW Avg. Tr. Pr: 0.1456
    # Buys, Shares: 27 121700, VW Avg Buy Pr: 0.1461
    # Sells, Shares: 23 214801, VW Avg Sell Pr: 0.1454
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:1.77 (36.17% "buys"), DlyShts 110951 (32.97%), Dly Sht % of 'sells' 51.65%

    The company announcement of a new CEO and board chairman appointment seems to still be affecting the action today as we had some more VWAP price improvement even though the high was way down. Volume was improved from yesterday's too, but it's still low. The buy percentage dropped from 47.1% to 36.2% though, reinforcing my concern about the volume.

    I had failed in the prior post to mention some significant action in the bid/ask movements and it ran across my mind today when I saw the same sort of action for the second consecutive day. I posted a comment about it in APC 347 here. In summary, ATDF and NITE had an extended battle for best offer on the sell-side. Part of the ATDF action was normal scalping impetus, I'm sure, but the jostling was much more determined and extended than usual. Since it was reduced a small bit from yesterday I'm hopeful that this is the start of a reduction in selling pressure. But we really won't know for another day or two.

    Yesterday and Tuesday I forgot to note that the $0.135 support I expected apparently came into play on Monday, 7/7, as we "bounced" off it and back into the mid-$0.14 range. Because of the PR regarding the new CEO appointment appeared we can't make a fair judgment on it though. I'll note only that the four days before the touch occurred we had bottoms near $0.14, which failed to hold. The touch of $0.135 occurred on a higher volume, 500K vs. the prior, newest to oldest, ~326K, ~73.05 and ~170K. This does suggest that it did act as support. That day, 7/7, VWAP was $0.1379 and then it moved to $0.1431 Tuesday and to $0.1456 today. This may mean that we could hang in the $0.14 range for a bit. It's more wait and see though with the volume and price action and PR about the CEO.

    Daily short sales percentage directional correlation with buy percentage continued to "behave" as the reduced buy percentage was accompanied by a reduced daily short percentage..

    There were no "outliers" today as both the low and the high were both close to other prices and fit the trends of prices. The number of 100 share trades were within normal ranges, in today's case three 100 shares trades and two 500 and three 700 to 800.

    Recent VWAPs oldest through today: $0.1506 ($0.1502 if those "outliers" are excluded), $0.1478, $0.1411, $0.1447, $0.1430, $0.1379, $0.1431 and $0.1456.

    We've had a break, significance unknown yet, in the 5, 10, 25 and 50-day VWAP averages, which were all descending. Today they are $0.1428, $0.1456, $0.1511 and $0.1526 respectively. The 5-day improved from $0.1419 and the 50-day is flat. Significance can't be judged with confidence because we still have very low volume and, possibly, effects from the CEO change PR.

    The larger trades (>= 15K) occurred on 7 of the 50 trades, 14.00%. These 156,850 shares were 46.61% of day's volume, and traded at a VWAP of $0.1461. 2 of the larger trades, 28.57%, were buys of 35,000 shares, 22.31% of the larger trades volume, and traded at a VWAP of $0.1456. 5 of the larger trades, 71.43%, were sells of 121,850 shares, 77.69% of the larger trades volume, and traded at a VWAP of $0.1462.

    The other 43 trades, 86.00% of the day's trades, traded 179,651 shares, 53.39% of the days volume. The VWAP was $0.1453. 25 trades, 58.14%, were buys and accounted for 86,700 shares, 48.26% of the smaller trade volume, and traded at a VWAP of $0.1463. 18 trades, 41.86%, were sells and accounted for 92,951 shares, 51.74% of the smaller trade volume, and traded at a VWAP of $0.1443.

    All the oscillators I watch, again except for ADX related, again ticked up today. I'm still waiting another day or so before trying to assess anything.

    The price action continued pushing the lower Bollinger limit but the lower limit went flat after being pushed down for six consecutive days. The intra-day low improved a wee bit by going no lower than that potential weak, IMO, support at $0.14.

    Recall yesterday I mentioned the second consecutive day of our high of $0.16 penetrating a descending resistance. Both days we fell back well below that resistance, which seemed to be at ~$0.157. Today we came nowhere near that resistance. Instead we topped just below our old friend, $0.15. This is not a good sign. However, we do have three consecutive days of higher lows, so keep our fingers crossed that it's more than just another long consolidation period, which seems a likely scenario. A repeated challenge of $0.15 might get us back into the $0.15 - $0.18 sideways channel. Unlikely?

    Today's low, high, VWAP, trade volume, and daily short sales moved 1.74%, -7.00%, 1.80%, 53.16% and 18.38% respectively. Price spread today was 6.21% vs. 16.19%, 18.52%, 7.07%, 5.08%, 14.29%, 7.78%, 1.67%, 6.60% and 6.67% on prior days.

    Here's a trading breakdown by arbitrary time-frames. Note the first period is only the 15K $0.16 outlier.
    10:17-10:32: 026151 shrs, 07.77% of vol, VWAP $0.1425, 045.9% buys
    10:35-13:27: 041500 shrs, 12.33% of vol, VWAP $0.1427, 042.2% buys
    13:30-14:27: 119300 shrs, 35.45% of vol, VWAP $0.1452, 062.3% buys
    14:29-14:59: 057000 shrs, 16.94% of vol, VWAP $0.1463, 012.3% buys
    15:21-15:56: 090050 shrs, 26.76% of vol, VWAP $0.1480, 009.3% buys
    15:57-15:57: 002500 shrs, 00.74% of vol, VWAP $0.1488, 100.0% buys

    Here's a trading breakdown by arbitrary price range. Note the lat entry is only the $0.1600 outlier.
    $0.1401-$0.1420: 038151 shrs, 11.34% of vol, VWAP $0.1407, 000.0% buys
    $0.1440-$0.1459: 111300 shrs, 33.08% of vol, VWAP $0.1449, 059.6% buys
    $0.1460-$0.1475: 099500 shrs, 29.57% of vol, VWAP $0.1462, 037.2% buys
    $0.1480-$0.1488: 087550 shrs, 26.02% of vol, VWAP $0.1482, 021.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%
    07/09 $0.1456 +01.80% 36.2%

    Regarding my newer inflection point calculations, volume improved a bit today and we got a second consecutive day of all periods improved again. I suspected the announcement of the new CEO and board chairman appointment caused yesterday's improvement. I suspect it's still in effect and we'll need another day or two to try and make any assessment of these calculations' meanings.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -091.97 -0140.87 -0228.39 -0667.19 -02113.59 -06461.46
    -104.97 -0139.46 -0223.90 -0589.67 -02102.07 -06296.39
    -098.54 -0146.79 -0210.95 -0611.03 -02107.24 -06343.32
    -143.86 -0210.39 -0330.08 -0757.17 -02422.62 -06919.24
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57
    -044.61 -0157.16 -0278.93 -0596.82 -01584.16 -05445.70

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/08/2014: EOD stuff partially copied to the concentrator.
    # Trds: 37, MinTrSz: 100, MaxTrSz: 30000, Vol: 219704, AvTrSz: 5938
    Min. Pr: 0.1377, Max Pr: 0.1600, VW Avg. Tr. Pr: 0.1431
    # Buys, Shares: 20 103554, VW Avg Buy Pr: 0.1467
    # Sells, Shares: 17 116150, VW Avg Sell Pr: 0.1398
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:1.12 (47.13% "buys"), DlyShts 93722 (42.66%), Dly Sht % of 'sells' 80.69%

    Today the company announced a new CEO and board chairman appointment. This seems to have affected the action today as we had some price improvement even though volume was lower.

    I'm not yet changing my mind on $0.14 not appearing viable. If the improvement in price today was an effect of this announcement and the apparently determined sellers were not swayed, the buying improvement will abate and we'll see behavior where sellers dominate again. This is one of those "wait a couple days" situations.

    Daily short sales percentage directional correlation with buy percentage came back today after several days of disconnect, likely due to the very low volumes we've been seeing. Interestingly, due to some unique trade sizes, I was able to identify some buys that were not shorted and calculate that 90.49% of buys were shorted. Also on 7/2, due to some unique trade sizes and very small volume (~73K), I could identify specific trades as being sold short. That day 71.49% of buys were short. I wish I could do this most days but if volume is higher it's just not possible for me to do so.

    Our "outlier" today was one buy of 15K shares for $0.16 at 9:30:09, the first trade of the session. The immediately following trades, at various sizes in the first few minutes, were at $0.1401, $0.15 and $0.1411. The next lower prices below $0.16 were $0.15, $0.1490, $0.1450 and $0.1449.

    With intra-day low-volume infrequent trading our second potential "outlier" was reached, the low of the day, at 10:50 at $0.1377 on a 30K sell and a later 1K sell at 11:05. The next higher price was a single 10.3K sell at $0.1378 and some volume finally came in at $0.1400. All this was pretty much "in trend" though as price movement was leading to the low and I can't really consider that 30K an outlier with the trend being what it was and the other prices with some volume not being far removed.

    Recent VWAPs oldest through today: $0.1515, $0.1506 ($0.1502 if those "outliers" are excluded), $0.1478, $0.1411, $0.1447, $0.1430, $0.1379 and $0.1431. 5, 10, 25 and 50-day VWAP averages, are all still descending. Today they are $0.1419, $0.1461, $0.1520 and $0.1526.

    Note in the larger trades that if the single 15K $0.16 buy is removed there were only two trades totaling 45K, both sells, one of 15K for $0.1420 and one for 30K at $0.1377, the low of the day. The 30K was also an outlier and that should be considered also.

    The larger trades (>= 15K) occurred on 3 of the 37 trades, 8.11%. These 60,000 shares were 27.31% of day's volume, and traded at a VWAP of $0.1444. 1 of the larger trades, 33.33%, were buys of 15,000 shares, 25.00% of the larger trades volume, and traded at a VWAP of $0.1600. 2 of the larger trades, 66.67%, were sells of 45,000 shares, 75.00% of the larger trades volume, and traded at a VWAP of $0.1391.

    The other 34 trades, 91.89% of the day's trades, traded 159,704 shares, 72.69% of the days volume. The VWAP was $0.1426. 19 trades, 55.88%, were buys and accounted for 88,554 shares, 55.45% of the smaller trade volume, and traded at a VWAP of $0.1445. 15 trades, 44.12%, were sells and accounted for 71,150 shares, 44.55% of the smaller trade volume, and traded at a VWAP of $0.1403.

    The oscillators I watch, except for ADX related, all ticked up today, probably due to the CEO announcement and low volume with price improvement. I'll be waiting a couple days before trying to assess anything.

    The price action continued pushing the lower Bollinger limit down for the sixth consecutive day and the intra-day low again penetrated a potential weak, IMO, support at $0.14.

    Something I hadn't mentioned is that for the second consecutive day our high of $0.16 penetrated a descending resistance. Both days we fell back well below that resistance, which seems to be at ~$0.157 today. If the single $0.16 trade each of those days is discounted, we did not breach the resistance.

    Today's low, high, VWAP, trade volume, and daily short sales moved 2.00%, 0.00%, 3.78%, -56.09% and -46.85% respectively. Price spread today was 16.19% vs. 18.52%, 7.07%, 5.08%, 14.29%, 7.78%, 1.67%, 6.60%, 6.67% and 1.93% on prior days.

    Note that if the "outlier" high of $0.16 for 15K shares is removed and we use $0.1500 as the high, the high movement becomes -6.25% instead of +0.00% and the spread becomes 8.93% instead of 16.19%.

    Here's a trading breakdown by arbitrary time-frames. Note the first period is only the 15K $0.16 outlier.
    09:30-09:30: 015000 shrs, 06.83% of vol, VWAP $0.1600, 100.0% buys
    09:33-10:25: 028850 shrs, 13.13% of vol, VWAP $0.1413, 006.9% buys
    10:49-11:05: 041300 shrs, 18.80% of vol, VWAP $0.1377, 000.0% buys
    11:09-12:46: 033522 shrs, 15.26% of vol, VWAP $0.1403, 039.4% buys
    13:25-14:40: 072500 shrs, 33.00% of vol, VWAP $0.1431, 061.8% buys
    14:41-15:03: 013532 shrs, 06.16% of vol, VWAP $0.1493, 100.0% buys
    15:28-15:29: 015000 shrs, 06.83% of vol, VWAP $0.1450, 100.0% buys

    Here's a trading breakdown by arbitrary price range. Note the lat entry is only the $0.1600 outlier.
    $0.1377-$0.1378: 041300 shrs, 18.80% of vol, VWAP $0.1377, 000.0% buys
    $0.1400-$0.1411: 058372 shrs, 26.57% of vol, VWAP $0.1403, 019.2% buys
    $0.1420-$0.1430: 055000 shrs, 25.03% of vol, VWAP $0.1425, 049.6% buys
    $0.1449-$0.1450: 034500 shrs, 15.70% of vol, VWAP $0.1449, 100.0% buys
    $0.1490-$0.1500: 015532 shrs, 07.07% of vol, VWAP $0.1494, 100.0% buys
    $0.1600-$0.1600: 015000 shrs, 06.83% of vol, VWAP $0.1600, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%
    07/08 $0.1431 +03.78% 47.1%

    Regarding my newer inflection point calculations, volume fell off again today and we got the return of potential noise as we switched to all periods improved again. We almost had a trend going, but I suspect the announcement of the new CEO and board chairman appointment cause today improvement.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -078.66 -0148.10 -0223.43 -0692.98 -02191.02 -06716.74
    -091.97 -0140.87 -0228.39 -0667.19 -02113.59 -06461.46
    -104.97 -0139.46 -0223.90 -0589.67 -02102.07 -06296.39
    -098.54 -0146.79 -0210.95 -0611.03 -02107.24 -06343.32
    -143.86 -0210.39 -0330.08 -0757.17 -02422.62 -06919.24
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85
    -060.52 -0199.11 -0279.09 -0692.62 -01916.57 -06132.57

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/07/2014: EOD stuff partially copied to the concentrator.
    # Trds: 85, MinTrSz: 100, MaxTrSz: 75000, Vol: 500365, AvTrSz: 5887
    Min. Pr: 0.1350, Max Pr: 0.1600, VW Avg. Tr. Pr: 0.1379
    # Buys, Shares: 48 143165, VW Avg Buy Pr: 0.1402
    # Sells, Shares: 37 357200, VW Avg Sell Pr: 0.1369
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:2.50 (28.61% "buys"), DlyShts 176325 (35.24%), Dly Sht % of 'sells' 49.36%

    I had mentioned in comments recently that $0.14 was not long for this world and that stronger support might exist at $0.135, although I didn't feel it was all that strong and $0.125 was a more likely support if we get there. It looks like we'll find out soon enough. The oscillators I watch, the VWAP movements, the volume up on a VWAP down day, my newer inflection point calculations, ... all suggest a negative slope will continue for now.

    From 12:37 forward it appeared that another long string of 100 share buys was going to be seen, but it wasn't able to maintain. Only 28 of the 58 trades from then to the close were for 100 shares as a large number of sells, mostly, and a few buys for other prices and sizes kept breaking the chain. Today was different also because there were mixed buys and sells in the 100 share trades.

    Yesterday my TFH caused me to suspect that the owner of the big block to be sold is a good enough customer that his broker, who probably has a market-making arm, was chipping in to move the market up to get a better price for those shares.

    Today seems to discount that thought and JP's comment that some might be gaming the reverse-split seems more likely.

    Our "outliers" today were one buy of 200 shares for $0.16 at 9:30:17, the ninth trade of the session, and one 8K trade for $0.1491 at 11:09. I'm not sure this second is really that far "out of band" as the next lower price of $0.1475 had four buys, all at 9:30, then $0.1474 (one buy) and then a bunch of $0.1419 buys.

    Yesterday I thought it looked like "they" were trying to move the market above $0.15, at which time I expect selling to come back in. Half right and wrong. Today doesn't look like an on-going attempt to move the market up, but the sellers did, indeed, come back in. Buy percentage dropped from yesterdays 33.9%, which wasn't all that strong to start with, and the sell percentage moved from 66.1% to 72.4%. All this while VWAP dropped 3.59% and volume jumped 193.51% to ~500.4K.

    Recent VWAPs oldest through today: $0.1513, $0.1515, $0.1506 ($0.1502 if those "outliers" are excluded), $0.1478, $0.1411, $0.1447, $0.1430 and $0.1379. 5, 10 and 25-day VWAP averages, are all still descending. Today they are $0.1429, $0.1469 and $0.1527 respectively. We now have the 50-day average VWAP dropping for the third consecutive day. Today it is $0.1527 vs. $0.1529, $0.1531 and $0.1530 on prior days.

    The larger trades (>= 15K) occurred on 9 of the 85 trades, 10.59%. These 249,600 shares were 49.88% of day's volume, and traded at a VWAP of $0.1371. 2 of the larger trades, 22.22%, were buys of 31,000 shares, 12.42% of the larger trades volume, and traded at a VWAP of $0.1409. 7 of the larger trades, 77.78%, were sells of 218,600 shares, 87.58% of the larger trades volume, and traded at a VWAP of $0.1366.

    The other 76 trades, 89.41% of the day's trades, traded 250,765 shares, 50.12% of the days volume. The VWAP was $0.1386. 46 trades, 60.53%, were buys and accounted for 112,165 shares, 44.73% of the smaller trade volume, and traded at a VWAP of $0.1400. 30 trades, 39.47%, were sells and accounted for 138,600 shares, 55.27% of the smaller trade volume, and traded at a VWAP of $0.1375.

    Yesterday the oscillators I watch mostly all reversed from yesterday's trend continuation of all having small ticks up again except MFI was weakened slightly and ADX related was flat. Today all but ADX related have rolled over and have down ticks of varying strengths.

    The price action continues pushing the lower Bollinger limit down for the fifth consecutive day. Further, the intra-day low penetrated a potential weak support at $0.14, which I didn't believe would offer any real support because it was just the extreme of some sideways trading for the most part, and we closed right on it. Today and the rest of the week should let us know.

    Today's low, high, VWAP, trade volume, and daily short sales moved -3.57%, 6.74%, -3.59%, 193.51% and 1192.71% respectively. Price spread today was 18.52% vs 7.07%, 5.08%, 14.29%, 7.78% vs. 1.67%, 6.60%, 6.67%, 1.93% and 2.80% on prior days.

    Note that if the "outlier" high of $0.16 for 200 shares is removed and we use $0.1491 as the high, the high movement becomes -0.53% instead of +6.74% and the spread becomes 10.44% instead of 18.52%.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:30: 017350 shrs, 03.47% of vol, VWAP $0.1428, 022.2% buys
    09:41-11:09: 015500 shrs, 03.10% of vol, VWAP $0.1465, 100.0% buys
    11:30-12:27: 016740 shrs, 03.35% of vol, VWAP $0.1411, 008.6% buys
    12:36-12:37: 166700 shrs, 33.32% of vol, VWAP $0.1382, 013.8% buys
    12:45-12:46: 020100 shrs, 04.02% of vol, VWAP $0.1386, 050.2% buys
    12:47-12:51: 004900 shrs, 00.98% of vol, VWAP $0.1352, 000.0% buys
    12:52-13:09: 015900 shrs, 03.18% of vol, VWAP $0.1419, 100.0% buys
    13:11-13:55: 021000 shrs, 04.20% of vol, VWAP $0.1393, 040.5% buys
    13:57-14:10: 163600 shrs, 32.70% of vol, VWAP $0.1353, 006.1% buys
    14:26-14:49: 007500 shrs, 01.50% of vol, VWAP $0.1380, 100.0% buys
    14:52-14:56: 030000 shrs, 06.00% of vol, VWAP $0.1360, 089.3% buys
    15:28-15:46: 021075 shrs, 04.21% of vol, VWAP $0.1400, 097.6% buys

    Here's a trading breakdown by arbitrary price range.
    $0.1350-$0.1360: 273600 shrs, 54.68% of vol, VWAP $0.1355, 009.8% buys
    $0.1380-$0.1390: 031000 shrs, 06.20% of vol, VWAP $0.1382, 082.3% buys
    $0.1400-$0.1419: 181415 shrs, 36.26% of vol, VWAP $0.1405, 042.2% buys
    $0.1474-$0.1475: 006150 shrs, 01.23% of vol, VWAP $0.1475, 100.0% buys
    $0.1491-$0.1600: 008200 shrs, 01.64% of vol, VWAP $0.1494, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%
    07/07 $0.1379 -03.59% 28.6%

    Regarding my newer inflection point calculations, I said yesterday "... I'd think low-volume induced noise again but there's something different in the trading. Late-day strength with relatively high price and buy percentage. It makes me think someone is playing the reverse-split scenario. We'll have to wait and see". Recalling the odd trading described above, I think it's the TFH scenario of the market being moved so that selling above $0.15 can be done. This seems somewhat supported by the fact that five of the six periods weakened today, meaning that regardless of the apparent improvements there seems little strength.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -065.39 -0114.95 -0173.16 -0757.12 -02266.15 -06822.91
    -078.66 -0148.10 -0223.43 -0692.98 -02191.02 -06716.74
    -091.97 -0140.87 -0228.39 -0667.19 -02113.59 -06461.46
    -104.97 -0139.46 -0223.90 -0589.67 -02102.07 -06296.39
    -098.54 -0146.79 -0210.95 -0611.03 -02107.24 -06343.32
    -143.86 -0210.39 -0330.08 -0757.17 -02422.62 -06919.24
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60
    -139.76 -0245.21 -0316.56 -0901.07 -02660.91 -07674.85

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/03/2014: EOD stuff partially copied to the concentrator.
    # Trds: 79, MinTrSz: 40, MaxTrSz: 20000, Vol: 170476, AvTrSz: 2158
    Min. Pr: 0.1400, Max Pr: 0.1499, VW Avg. Tr. Pr: 0.1430
    # Buys, Shares: 62 57740, VW Avg Buy Pr: 0.1458
    # Sells, Shares: 17 112736, VW Avg Sell Pr: 0.1415
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:1.95 (33.87% "buys"), DlyShts 13640 (08.00%), Dly Sht % of 'sells' 12.10%

    Note that of today's 79 trades 51, 64.56%, were for 100 shares, 47 of which traded at $0.1459, 2 at $0.1460 and 2 at $0.1499. There was also a small odd lot trade of 40 shares at $0.1459.

    Further, as noted in a thread started by Iindelco here, the 374K offer (today 364K) we'd been seeing from CDEL and others was pulled, apparently after some early, 9:35 - 10:09, "fishing lures" resulted in a "normal" trade of 7K at $0.1449. My guess was this may have encouraged the big block seller to try and wait for a better price. The order was there at 10:09 and gone by 10:20.

    Then the action got quite curious, as first noted in a thread started here. In summary, "normal" trading ended at 11:39 with roughly 1/7th (14.12%) of the trades being buys. We had dropped from a high of $0.1459 to $0.14 with no bottom in sight. That was twenty trades and VWAP was $0.1421.

    From 11:40 through the close, 48 of 59 trades were buys for 100 shares, 44 at $0.1459, followed by 2 $0.1460 and then 2 at $0.1499. Interspersed with these trades were a few at larger sizes and different prices (buy 1,500 @ $0.1459, sell 3K @ $0.1401, ...), leading up to a series of "normal" sized trades dominating in the last 15 minutes. During this 15-minute period, 35,036 shares, 20.55% of day's volume, traded at a VWAP of $0.1458, substantially above what had been seen prior to that period.

    At EOD we ended with roughly 1/3rd (33.87%) buys. VWAP went from $0.1421 at 11:39 to $0.1430 at EOD. The last three trades of the day were for 100, 500 and 100 shares, all buys at $0.1499.

    WARNING: TFH at play. I'm suspecting that the owner of the big block to be sold is a good enough customer that his broker, who probably has a market-making arm, is chipping in to move the market up to get a better price for those shares.

    Yesterday I said I believed the shareholder approval of the reverse-split had affected the market and I was thinking it will be three more trading days before it might be safe to assess on-going behavior again.

    I now believe that to not be the case. I believe the action we are seeing is related to the TFH theory. Recall many months back I noted the MMs had moved the market where they wanted it to be and we would see some ... I forget what but I remember it happened.

    Our "outliers" were already mentioned above - the three buys at the close at $0.1499 totaling 700 shares. The next lower price was a single 2K buy at $0.1475 and then the $0.1460/$0.1459 buys, which had some volume.

    Yesterday I noted something was changing here. Today seems to confirm that. It looks to me like "they" are trying to move the market above $0.15, at which time I expect selling to come back in.

    Yesterday the buy percentage jumped big to 72.6% from the prior 22.8% and 15.3%. Today it dropped back to a more normal range, 33.9%, regardless of the apparent attempt to manipulate the market, IMO.

    Recent VWAPs oldest through today: $0.1504, $0.1513, $0.1515, $0.1506 ($0.1502 if those "outliers" are excluded), $0.1478, $0.1411, $0.1447 and $0.1430. 5, 10 and 25-day VWAP averages, are all still descending. Today they are $0.1454, $0.1484 and $0.1537 respectively. We know have the 50-day average VWAP dropping for the second consecutive day. Today it is $0.1529, down from $0.1531 and then $0.1530.

    On the following keep in mind the odd trading described above.

    The larger trades (>= 15K) occurred on 3 of the 79 trades, 3.80%. These 52,900 shares were 31.03% of day's volume, and traded at a VWAP of $0.1423. 1 of the larger trades, 33.33%, was a buy of 20,000 shares, 37.81% of the larger trades volume, and traded at a VWAP of $0.1460. 2 of the larger trades, 66.67%, were sells of 32,900 shares, 62.19% of the larger trades volume, and traded at a VWAP of $0.1400.

    The other 76 trades, 96.20% of the day's trades, traded 117,576 shares, 68.97% of the days volume. The VWAP was $0.1433. 61 trades, 80.26%, were buys and accounted for 37740 shares, 32.10% of the smaller trade volume, and traded at a VWAP of $0.1457. 15 trades, 19.74%, were sells and accounted for 79836 shares, 67.90% of the smaller trade volume, and traded at a VWAP of $0.1422.

    Yesterday the oscillators I watch continued acting as they did the prior day - all have small ticks up again except today MFI weakened slightly and ADX related was flat. Low volume continues to call these indicators into question.

    The price action continues pushing the lower Bollinger limit down today.

    Today's low, high, VWAP, trade volume, and daily short sales moved -1.20%, 0.67%, -1.15%, 133.36% and -64.04% respectively. Price spread today was 7.07% vs. 5.08%, 14.29%, 7.78% vs. 1.67%, 6.60%, 6.67%, 1.93%, 2.80% and 2.32% on prior days.

    Note that if the "outlier" high and the next lower price are removed and we use $0.1460 as the high, the high movement becomes -1.95% and the spread becomes 4.29%.

    Here's a trading breakdown by arbitrary time-frames.
    09:35-10:42: 020200 shrs, 11.85% of vol, VWAP $0.1454, 087.6% buys
    10:44-10:57: 042100 shrs, 24.70% of vol, VWAP $0.1438, 000.2% buys
    10:59-11:39: 063800 shrs, 37.42% of vol, VWAP $0.1400, 000.0% buys
    11:40-11:52: 001900 shrs, 01.11% of vol, VWAP $0.1459, 100.0% buys
    11:53-11:53: 001500 shrs, 00.88% of vol, VWAP $0.1459, 100.0% buys
    11:54-12:15: 001400 shrs, 00.82% of vol, VWAP $0.1459, 100.0% buys
    12:15-12:15: 000400 shrs, 00.23% of vol, VWAP $0.1401, 000.0% buys
    12:16-12:21: 000240 shrs, 00.14% of vol, VWAP $0.1459, 100.0% buys
    12:27-12:27: 003000 shrs, 01.76% of vol, VWAP $0.1401, 000.0% buys
    12:28-12:39: 000900 shrs, 00.53% of vol, VWAP $0.1459, 100.0% buys
    12:46-12:46: 009100 shrs, 05.34% of vol, VWAP $0.1454, 100.0% buys
    12:47-12:50: 024200 shrs, 14.20% of vol, VWAP $0.1461, 100.0% buys
    12:51-12:51: 001036 shrs, 00.61% of vol, VWAP $0.1402, 000.0% buys
    12:53-12:53: 000700 shrs, 00.41% of vol, VWAP $0.1499, 100.0% buys

    Here's a trading breakdown by arbitrary price range.
    $0.1400-$0.1402: 068236 shrs, 40.03% of vol, VWAP $0.1400, 000.0% buys
    $0.1430-$0.1430: 026000 shrs, 15.25% of vol, VWAP $0.1430, 000.0% buys
    $0.1447-$0.1450: 029740 shrs, 17.45% of vol, VWAP $0.1449, 037.8% buys
    $0.1459-$0.1459: 021600 shrs, 12.67% of vol, VWAP $0.1459, 100.0% buys
    $0.1460-$0.1475: 024200 shrs, 14.20% of vol, VWAP $0.1461, 100.0% buys
    $0.1499-$0.1499: 000700 shrs, 00.41% of vol, VWAP $0.1499, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%
    07/03 $0.1430 -01.15% 33.9%

    Regarding my newer inflection point calculations, I said yesterday "... I'd think low-volume induced noise again but there's something different in the trading. Late-day strength with relatively high price and buy percentage. It makes me think someone is playing the reverse-split scenario. We'll have to wait and see". Recalling the odd trading described above, I think it's the TFH scenario of the market being moved so that selling above $0.15 can be done. This seems somewhat supported by the fact that five of the six periods weakened today, meaning that regardless of the apparent improvements there seems little strength.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -048.26 -0054.14 -0187.48 -0700.28 -02083.74 -06492.57
    -065.39 -0114.95 -0173.16 -0757.12 -02266.15 -06822.91
    -078.66 -0148.10 -0223.43 -0692.98 -02191.02 -06716.74
    -091.97 -0140.87 -0228.39 -0667.19 -02113.59 -06461.46
    -104.97 -0139.46 -0223.90 -0589.67 -02102.07 -06296.39
    -098.54 -0146.79 -0210.95 -0611.03 -02107.24 -06343.32
    -143.86 -0210.39 -0330.08 -0757.17 -02422.62 -06919.24
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51
    -108.62 -0217.53 -0411.56 -0816.02 -02392.42 -06998.60

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/02/2014: EOD stuff partially copied to the concentrator.
    # Trds: 13, MinTrSz: 552, MaxTrSz: 14000, Vol: 73052, AvTrSz: 5619
    Min. Pr: 0.1417, Max Pr: 0.1489, VW Avg. Tr. Pr: 0.1447
    # Buys, Shares: 10 53052, VW Avg Buy Pr: 0.1457
    # Sells, Shares: 3 20000, VW Avg Sell Pr: 0.1420
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 2.65:1 (72.62% "buys"), DlyShts 37929 (51.92%), Dly Sht % of 'sells' 189.65%

    The shareholder approval of the reverse-split and reduction in authorized shares was announced today. I believe it has affected the market. I'm thinking it will be three more trading days before it might be safe to assess on-going behavior again. Just add these last two thoughts to the end of each paragraph below wherein I note a change in behavior. Add in the very low volume as another factor to reduce the level of confidence in any possible conclusions.

    We had potential "outliers" today but each accounted for 15.86% of the day's volume so it's hard to view them as such. The low was set by a single 10K sell at 10:57, the first trade of the day, for $0.1417. The next higher priced trades were at $0.1422, 10K of sells. All further higher-priced trades, starting at $0.1449, were buys. The high of the day was established by buys of 1,071 and 8,929 shares at $0.1489. I think these were really one trade in two pieces because of the 10K total and price.

    It looks like the sellers aren't in, suggested by a sell percentage of only ~27.4%, and VWAP up another 2.53%, no big offer of 374K at $0.145 from CDEL, and the very low volume.

    Yesterday I noted the $0.14 price barely held as several times the best bid was below that - $0.1351, $0.136, $0.1361 and $0.1362 - at various points during the day and when bids did come back to the $0.14 area, they never got above $0.143 and spent most of the day in the $0.14 to $0.1406 range. Significantly I noted "In fact, other than the $0.16 buy, no buy occurred above a price of $0.1406. All higher-priced trades below the $0.16 trade were sells".

    I said I see no future in the $0.14 price range.

    Today's action provides a big variance from that prior behavior and I think I might have to ... revise my thinking? Become cautious? Something is changing here. Did the CDEL 374K seller decide to hold or decide to sell in smaller chunks to avoid moving the market lower? I don't know. I only know this does not reflect the behavior we've been seeing. I suspect the announcement of the approval of the reverse-split and reduction in authorized shares today has affected the market.

    The buy percentage jumped big to 72.6% from the prior 22.8% and 15.3%. We'll have to see if this is a trend change, likely due to the reverse-split announcement.

    Recent VWAPs oldest through today: $0.1506, $0.1504, $0.1513, $0.1515, $0.1506 ($0.1502 if those "outliers" are excluded), $0.1478, $0.1411 and $0.1447. 5, 10 and 25-day VWAP averages, are all still descending. Today they are $0.1471, $0.1495 and $0.1550 respectively.

    There were no larger trades today.

    Yesterday I noted "Today all the oscillators I watch were "fooled" by that single $0.16 buy. Every one had a minimal up tick. It might be enough to get some traditional TA types to bite and think things are moving up. But the numbers say otherwise". Well, today may suggest they did bite (but note the possible reverse-split announcement's effects) and the oscillators I watch continue acting as they did yesterday - all have small ticks up again. Be wary though - low volume calls these indicators into question.

    The price action continues pushing the lower Bollinger limit down today. Current range is $0.1419 - $0.1618 vs. $0.1420 - $0.1637 and $0.1438 - $0.1640 on prior days.

    Today's low, high, VWAP, trade volume, and daily short sales moved 1.21%, -6.94%, 2.53%, -77.59% and -57.80% respectively. Price spread today was 5.08% vs. 14.29%, 7.78% vs. 1.67%, 6.60%, 6.67%, 1.93%, 2.80%, 2.32% and 1.64% on prior days.

    Here's a trading breakdown by arbitrary time-frames, interesting only due to the sparseness of trading and relatively large divergence of VWAP in the periods. Note also the difference in buy percentages.
    10:57-12:06: 021071 shrs, 28.84% of vol, VWAP $0.1423, 005.1% buys
    12:24-15:59: 051981 shrs, 71.16% of vol, VWAP $0.1456, 100.0% buys

    Here's a trading breakdown by arbitrary price range, although it's utility may be marginal with the low volume. Note the buy percentages.
    $0.1417-$0.1422: 020000 shrs, 27.38% of vol, VWAP $0.1420, 000.0% buys
    $0.1449-$0.1450: 043052 shrs, 58.93% of vol, VWAP $0.1449, 100.0% buys
    $0.1489-$0.1489: 010000 shrs, 13.69% of vol, VWAP $0.1489, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%
    07/02 $0.1447 +02.53% 72.6%

    Regarding my newer inflection point calculations, I said yesterday "... but the large drop in all periods seems way beyond noise. I believe these readings are suggesting that $0.14 will soon be but a fond memory". Well, it's only one day, but the volume tanked and we're back to all periods improved. I'd think low-volume induced noise again but there's something different in the trading. Late-day strength with relatively high price and buy percentage. It makes me think someone is playing the reverse-split scenario. We'll have to wait and see.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -034.40 -0038.82 -0141.96 -0753.12 -02087.62 -06380.34
    -048.26 -0054.14 -0187.48 -0700.28 -02083.74 -06492.57
    -065.39 -0114.95 -0173.16 -0757.12 -02266.15 -06822.91
    -078.66 -0148.10 -0223.43 -0692.98 -02191.02 -06716.74
    -091.97 -0140.87 -0228.39 -0667.19 -02113.59 -06461.46
    -104.97 -0139.46 -0223.90 -0589.67 -02102.07 -06296.39
    -098.54 -0146.79 -0210.95 -0611.03 -02107.24 -06343.32
    -143.86 -0210.39 -0330.08 -0757.17 -02422.62 -06919.24
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74
    -104.10 -0199.41 -0403.23 -0787.15 -02393.96 -06938.51

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    07/01/2014: EOD stuff partially copied to the concentrator.
    # Trds: 33, MinTrSz: 99, MaxTrSz: 50000, Vol: 326007, AvTrSz: 9879
    Min. Pr: 0.1400, Max Pr: 0.1600, VW Avg. Tr. Pr: 0.1411
    # Buys, Shares: 15 74478, VW Avg Buy Pr: 0.1409
    # Sells, Shares: 18 251529, VW Avg Sell Pr: 0.1411
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:3.38 (22.85% "buys"), DlyShts 89879 (27.57%), Dly Sht % of 'sells' 35.73%

    No sign of anything but continued downward pressure today.

    We had an "outlier" today. The high of the day was a single 2.5K buy at 09:30:11, the third trade of the session, for $0.1600. The next lowest price came on two sells at 9:32:53 of 5K and 6K for $0.1450. They were "in range" of three sells with some volume, ~48.6K, for $0.1430 that occurred from 15:32 to 15:35. So it would be reasonable to look at $0.1450 as a reasonable high if one discounts the $0.16 trade.

    As with the recent weeks, it still looks like the sellers are in, suggested by a sell percentage of ~77.2% and VWAP down another 4.54%. ETRF had an offer of 374K at $0.145 entered by 09:32 today. It stayed all day long.

    The $0.14 price barely held today as several times the best bid was below that - $0.1351, $0.136, $0.1361 and $0.1362 - at various points during the day. When bids did come back to the $0.14 area, they never got above $0.143 and spent most of the day in the $0.14 to $0.1406 range. Buyers were not jumping up and down to catch the $0.1439 offer that was predominate from 11:44 through 15:43. In fact, other than the $0.16 buy, no buy occurred above a price of $0.1406. All higher-priced trades below the $0.16 trade were sells.

    With this behavior, I see no future in the $0.14 price range.

    The larger trades (>= 15K) occurred on 8 of the 33 trades, 24.24%. These 212,900 shares were 65.31% of day's volume, and traded at a VWAP of $0.1407. 1 of the larger trades, 12.50%, was a buy of 25,000 shares, 11.74% of the larger trades volume, and traded at a VWAP of $0.1406. 7 of the larger trades, 87.50%, were sells of 187,900 shares, 88.26% of the larger trades volume, and traded at a VWAP of $0.1407.

    The other 25 trades, 75.76% of the day's trades, traded 113,107 shares, 34.69% of the days volume. The VWAP was $0.1418. 14 trades, 56.00%, were buys and accounted for 49,478 shares, 43.74% of the smaller trade volume, and traded at a VWAP of $0.1410. 11 trades, 44.00%, were sells and accounted for 63,629 shares, 56.26% of the smaller trade volume, and traded at a VWAP of $0.1424.

    The buy percentage improved from yesterday's 15.3% to 22.8% today, but that's still anemic. The 10, 25, 50 and 100-day buy percentage averages are not looking pretty, being 27.31%, 34.40%, 38.96% and 41.00% respectively. All are falling, although the 10-day is trying to flatten. If things go how I believe they will, it may make it. After all, ~27% is not a big challenge to maintain.

    Recent VWAPs oldest through today: $0.1530, $0.1506, $0.1504, $0.1513, $0.1515, $0.1506 ($0.1502 if those "outliers" are excluded), $0.1478 and $0.1411. 5, 10 and 25-day VWAP averages, are all still descending. Today they are $0.1485, $0.1504 and $0.1562 respectively.

    Today all the oscillators I watch were "fooled" by that single $0.16 buy. Every one had a minimal up tick. It might be enough to get some traditional TA types to bite and think things are moving up. But the numbers say otherwise.

    The price action continues pushing the lower Bollinger limit down today. Current range is $0.1420 to $0.1637 vs. yesterday's $0.1438 - $0.1640.

    Today's low, high, VWAP, trade volume, and daily short sales moved -0.07%, 5.96%, -4.54%, -51.74% and 12.46% respectively. Price spread today was 14.29% vs. 7.78% vs. 1.67%, 6.60%, 6.67%, 1.93%, 2.80%, 2.32%, 1.64% and 1.91% on prior days.

    If we exclude the $0.16 "outlier" mentioned above the day's high becomes $0.1450 and movements of the high becomes -3.97%. The day's spread becomes 3.57%.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:32: 025750 shrs, 07.90% of vol, VWAP $0.1450, 009.7% buys
    10:07-10:07: 050000 shrs, 15.34% of vol, VWAP $0.1409, 000.0% buys
    10:10-10:32: 121800 shrs, 37.36% of vol, VWAP $0.1401, 003.1% buys
    11:20-11:43: 043079 shrs, 13.21% of vol, VWAP $0.1400, 100.0% buys
    13:33-13:33: 001200 shrs, 00.37% of vol, VWAP $0.1406, 000.0% buys
    15:32-15:35: 048579 shrs, 14.90% of vol, VWAP $0.1430, 000.0% buys
    15:41-15:58: 035599 shrs, 10.92% of vol, VWAP $0.1406, 070.5% buys

    Here's a trading breakdown by arbitrary price range, although it's utility may be marginal with the low volume.
    $0.1400-$0.1400: 136879 shrs, 41.99% of vol, VWAP $0.1400, 034.2% buys
    $0.1401-$0.1406: 080999 shrs, 24.85% of vol, VWAP $0.1405, 031.0% buys
    $0.1410-$0.1420: 046050 shrs, 14.13% of vol, VWAP $0.1414, 000.0% buys
    $0.1430-$0.1430: 048579 shrs, 14.90% of vol, VWAP $0.1430, 000.0% buys
    $0.1450-$0.1450: 011000 shrs, 03.37% of vol, VWAP $0.1450, 000.0% buys
    $0.1600-$0.1600: 002500 shrs, 00.77% of vol, VWAP $0.1600, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%
    07/01 $0.1411 -04.54% 22.8%

    Regarding my newer inflection point calculations, I said yesterday "... we now see all 6 periods weaker. I do think this is the trend now, but I expect tomorrow will have lower volume and we could see noise again". We had lower volume, but the large drop in all periods seems way beyond noise. I believe these readings are suggesting that $0.14 will soon be but a fond memory.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -316.72 -0333.60 -1213.34 -5732.46 -17038.80 -53507.42
    -034.40 -0038.82 -0141.96 -0753.12 -02087.62 -06380.34
    -048.26 -0054.14 -0187.48 -0700.28 -02083.74 -06492.57
    -065.39 -0114.95 -0173.16 -0757.12 -02266.15 -06822.91
    -078.66 -0148.10 -0223.43 -0692.98 -02191.02 -06716.74
    -091.97 -0140.87 -0228.39 -0667.19 -02113.59 -06461.46
    -104.97 -0139.46 -0223.90 -0589.67 -02102.07 -06296.39
    -098.54 -0146.79 -0210.95 -0611.03 -02107.24 -06343.32
    -143.86 -0210.39 -0330.08 -0757.17 -02422.62 -06919.24
    -799.65 -1307.74 -2390.47 -4575.59 -15963.38 -52336.74

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    Disclosure: The author is long AXPW.

    Additional disclosure: I am very experimental and sometimes do my TA in non-traditional fashions. Keep this in mind when considering anything I post and be sure and consult other sources and do your due diligence. I'm barely responsible for myself and certainly not responsible for anyone else or their actions. :-)

    Jul 01 8:54 PM | Link | 4 Comments
  • AXPW: Intra-Day Trade & Buy:Sell Inflection Point Charting Beginning 06/02/2014

    Links to blogs older than the 01/01/2014 version, PIPE discussions, one year charts will be found only in that and older blogs. Most historical short sales related stuff has also been chopped.

    In the below chart the volume is inverted to enhance readability! Be aware when you view it!

    (right-click and open in new tab, position cursor over image to be able to zoom and scroll)

    AXPW Intra-day Statistics Chart 20140630

    Next are modified inflection point calculation charts bracketing a price chart for comparison.

    The two identically calculated inflection points are calculated differently from the original above. I have two different presentations of this newer version. The top one has all periods on the same scale. The bottom one has longer periods on the left scale and shorter periods on the right scale. The hope is that shorter period changes will be easier to spot. More work to do, this is a start, hopefully.

    Other changes I want to try are still waiting for me to work on them.

    (right-click and open in new tab, position cursor over image to be able to zoom and scroll)

    AXPW Intra-day Statistics Chart Test IP Calculations 20140630

    Older stuff for "2013 Dly Sht % of 'sells' values", Weekly 85% price summaries going back to 6/14/2012, and some day-to-day VWAP changes stuff going back to 10/09 are available in AXPW: Intra-Day Trade & Buy:Sell Inflection Point Charting Beginning 10/1/2013.

    Believing that the PIPE financing has run it's course, I'm not going to post stuff related that any more. The calculations will still be available if needed though.

    06/30/2014: EOD stuff partially copied to the concentrator.
    # Trds: 63, MinTrSz: 200, MaxTrSz: 126141, Vol: 675553, AvTrSz: 10723
    Min. Pr: 0.1401, Max Pr: 0.1510, VW Avg. Tr. Pr: 0.1478
    # Buys, Shares: 19 103653, VW Avg Buy Pr: 0.1466
    # Sells, Shares: 42 568590, VW Avg Sell Pr: 0.1480
    # Unkn, Shares: 2 3310, VW Avg Unk. Pr: 0.1431
    Buy:Sell 1:5.49 (15.34% "buys"), DlyShts 79920 (11.83%), Dly Sht % of 'sells' 14.06%

    Last week looked like a typical last week of the month - flat instead of falling.

    This week started with "not so much". The $0.15 support, which held up much longer than I expected, finally gave way with "high" volume, a lower low, high, VWAP and buy percentage. The Last of the CDEL bid was taken out with a 126,141 share "sell" - 18.67% of the day's volume. It had significant effect on the day's larger trade calculations.

    I've recently mentioned in a comment that $0.14 doesn't look like it will offer any serious support and the most likely next support is $0.13xx (~$0.135?). But even that one is not "strong", just should be stronger support than $0.14. We could get a surprise at $0.13xx though -the 200-day SMA is currently $0.1306 and slowly rising.

    Ignoring that, it looks like the real first strong support should be around $0.125 if we get there.

    We had a few "outliers" today. The low was set with a single 25K $0.1401 sell at 12:10. The next higher price, $0.1402 had three trades totaling 30K shares, two at 12:44 and one at 13:30. The high was set with two sells, one 200 shares at the open for $0.1510 and another of 10K at 9:33 for $0.1510. No volume appears until price of $0.15 dominates. Trades at $0.1501 through $0.1505 had only six trades totaling 12,600 shares.

    Today the $0.15 bid from CDEL was down to 210.6K right at the open. I had mentioned that it looked like the sellers were still around and the $0.15 was taken out by 10:18, just forty-eight minutes into the session.

    The larger trades (>= 15K) occurred on 10 of the 63 trades, 15.87%. These 337,029 shares were 49.89% of day's volume, and traded at a VWAP of $0.1485. 1 of the larger trades, 10.00%, was a buy of 18,888 shares, 5.60% of the larger trades volume, and traded at a VWAP of $0.1440. 9 of the larger trades, 90.00%, were sells of 318,141 shares, 94.40% of the larger trades volume, and traded at a VWAP of $0.1488.

    The other 53 trades, 84.13% of the day's trades, traded 338,524 shares, 50.11% of the days volume. The VWAP was $0.1471. 18 trades, 33.96%, were buys and accounted for 84,765 shares, 25.04% of the smaller trade volume, and traded at a VWAP of $0.1472. 33 trades, 62.26%, were sells and accounted for 250,449 shares, 73.98% of the smaller trade volume, and traded at a VWAP of $0.1471. 2 trades, 3.77%, were unknown and accounted for 3,310 shares, 0.98% of the smaller trade volume, and traded at a VWAP of $0.1431.

    The improved the buy percentage yesterday went up in a wisp of smoke with the higher volume that finally pushed us below $0.15 with an ending VWAP of $0.1478 and a close of $0.1403. I still don't have any indication that the sellers are gone, so I can't offer much hope for price improvement for now.

    Recent VWAPs oldest through today: $0.1539, $0.1530, $0.1506, $0.1504, $0.1513, $0.1515, $0.1506 ($0.1502 if those "outliers" are excluded) and $0.1478. 5, 10 and 25-day VWAP averages, are all still descending. Today they are 0.1503, 0.1514 and 0.1572 respectively.

    Price closed below the longer-term rising support for the third consecutive day. It is no longer a potential support point.

    Yesterday I said "So far the typical "stop falling and go flat last week of the month and first week of next month" seems to be playing out. This is one reason I'm not expecting any movement in price in spite of the traditional TA stuff suggesting we should start falling".

    FAIL! The traditional TA stuff had it right. Today all the oscillators I watch are going negative and MFI, Williams %R and full stochastic are oversold now. This normally argues for a bounce, maybe of the "dead cat" variety in our case, but it often takes a while for the bounce to develop. Things can remain in oversold for a while.

    After trading completely below the mid-point of the Bollinger range yesterday, we are now "pushing" the lower limit down. Current range is $0.1438 - $0.1640. This argues for an eventual move to the mid-range, but we had this before and, as then, we need to be cognizant that the mid-point range of the Bollingers could come to price rather than price to mid-range.

    Today's low, high, VWAP, trade volume, and daily short sales moved -6.60% -0.98%, -1.84%, 582.73% and infinity (yesterday was zero shorts) respectively. Price spread today was 7.78% vs. 1.67%, 6.60%, 6.67%, 1.93%, 2.80%, 2.32%, 1.64%, 1.91% and 4.26% on prior days.

    If we exclude the "outliers" mentioned above the day's high becomes $0.1500 and movements of the high becomes -1.64%. The day's spread becomes 7.07%.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:33: 012900 shrs, 01.91% of vol, VWAP $0.1508, 079.1% buys
    09:42-10:28: 364416 shrs, 53.94% of vol, VWAP $0.1500, 000.9% buys
    10:29-12:09: 114733 shrs, 16.98% of vol, VWAP $0.1500, 030.3% buys
    12:10-12:32: 050416 shrs, 07.46% of vol, VWAP $0.1425, 020.7% buys
    12:40-14:20: 078000 shrs, 11.55% of vol, VWAP $0.1407, 019.2% buys
    15:10-15:35: 038888 shrs, 05.76% of vol, VWAP $0.1437, 074.3% buys
    15:50-15:57: 016200 shrs, 02.40% of vol, VWAP $0.1405, 006.2% buys

    Here's a trading breakdown by arbitrary price range, although it's utility may be marginal with the low volume.
    $0.1401-$0.1403: 100200 shrs, 14.83% of vol, VWAP $0.1402, 000.0% buys
    $0.1420-$0.1439: 039000 shrs, 05.77% of vol, VWAP $0.1428, 066.7% buys
    $0.1440-$0.1451: 044304 shrs, 06.56% of vol, VWAP $0.1445, 066.1% buys
    $0.1498-$0.1499: 032333 shrs, 04.79% of vol, VWAP $0.1499, 100.0% buys
    $0.1500-$0.1510: 459716 shrs, 68.05% of vol, VWAP $0.1500, 003.5% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%
    06/30 $0.1478 -01.84% 15.3%

    Regarding my newer inflection point calculations, it looks like no more typical low-volume noise going on. Yesterday, with the slightly weaker readings I said "I'm beginning to think a trend will shortly appear". With volume at 675.55K and our readings going from two improved and four weaker, a decline in strength from the prior day, we now see all 6 periods weaker. I do think this is the trend now, but I expect tomorrow will have lower volume and we could see noise again.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -070.20 -062.65 -0245.56 -1043.19 -02474.55 -07014.77
    -316.72 -333.60 -1213.34 -5732.46 -17038.80 -53507.42
    -034.40 -038.82 -0141.96 -0753.12 -02087.62 -06380.34
    -048.26 -054.14 -0187.48 -0700.28 -02083.74 -06492.57
    -065.39 -114.95 -0173.16 -0757.12 -02266.15 -06822.91
    -078.66 -148.10 -0223.43 -0692.98 -02191.02 -06716.74
    -091.97 -140.87 -0228.39 -0667.19 -02113.59 -06461.46
    -104.97 -139.46 -0223.90 -0589.67 -02102.07 -06296.39
    -098.54 -146.79 -0210.95 -0611.03 -02107.24 -06343.32
    -143.86 -210.39 -0330.08 -0757.17 -02422.62 -06919.24

    "Dly Sht % of 'sells'" and inflection point changes here are omitted from the concentrator.

    On my ORIGINAL inflection point calculations, readings for 5, 10, 25, 50, 100 and 200 day periods:
    ---- 1-day change ----
    06/19 +28.8% +22.6% +26.3% +14.5% +04.0% +00.7%
    06/20 -38.5% -36.3% -28.2% +07.4% +04.6% +00.0%
    06/23 -33.0% -106.6% +11.4% -02.2% +00.1% +00.0%
    06/24 -22.3% -30.8% -34.0% +05.8% +03.1% +00.3%
    06/25 -18.8% +03.3% -06.3% -00.6% -02.4% +00.5%
    06/26 -14.8% +00.2% +00.2% +10.0% -02.8% +00.8%
    06/27 +06.4% -04.6% +06.6% -02.0% +02.3% +00.6%
    06/30 -43.4% -40.0% -49.7% -14.3% -01.7% -00.5%
    ---- 5-day change ----
    06/19 +035.8% +017.1% -011.2% +601.2% +075.7% +051.4%
    06/20 -041.6% -150.4% -020.8% +001.4% +046.5% -040.1%
    06/23 +062.1% -088.7% -003.8% +009.2% -008.0% +012.9%
    06/24 +037.6% +004.7% -099.3% +065.6% -007.6% +044.3%
    06/25 -345.4% -001.9% -6888.2% -020.5% -028.6% +004.4%
    06/26 -062.9% -012.5% -134.7% -029.4% -070.7% +005.6%
    06/27 +028.0% +007.7% +063.2% -047.1% -083.5% +034.6%
    06/30 -053.0% -001.5% -395.0% -095.4% -376.7% -023.1%
    ---- 5-day rate of change ----
    06/19 +010.7% +014.0% -262.4% +080.4% +171.9% +020.2%
    06/20 +078.0% -161.5% +257.0% +072.1% +746.0% -041.2%
    06/23 +276.9% -032.4% -109.6% +1507.4% +001.5% +062.4%
    06/24 +012.4% +000.6% -3192.8% +077.2% -018.0% +198.9%
    06/25 -097.1% -034.6% -057.1% -028.6% -056.9% -039.9%
    06/26 -2257.2% -014.7% -023.4% -098.3% -330.3% -078.6%
    06/27 +076.7% +077.7% +039.9% -1722.7% -092.3% +1004.3%
    06/30 -541.3% +095.0% -106.5% -130.4% -003.2% -048.4%

    On my NEWER inflection point calculations, for those same periods:
    ---- 1-day change ----
    06/19 +029.54% +024.71% +029.49% +017.55% +005.58% +002.42%
    06/20 -040.29% -039.45% -032.07% +007.02% +000.19% -001.76%
    06/23 -035.49% -112.33% +007.64% -008.12% -008.75% -005.09%
    06/24 -020.29% -028.83% -029.03% +008.47% +003.32% +001.56%
    06/25 -016.92% +004.88% -002.22% +003.72% +003.53% +003.80%
    06/26 -014.14% +001.00% +001.96% +011.62% +000.54% +002.55%
    06/27 +006.13% -005.25% +005.79% -003.62% -000.25% -000.75%
    06/30 -046.00% -043.33% -056.48% -023.92% -014.97% -009.08%
    ---- 5-day change ----
    06/19 +034.40% +011.84% -008.72% +208.10% +000.14% -020.09%
    06/20 -051.10% -145.41% -039.89% -030.50% -050.36% -117.70%
    06/23 +062.38% -086.79% +016.60% +022.47% -008.66% +036.75%
    06/24 +047.63% +009.10% -072.77% +086.17% +102.68% +783.04%
    06/25 -410.35% -004.52% -222.23% -029.70% -065.68% -074.02%
    06/26 -063.56% -012.69% -202.95% -033.61% -114.85% +008.40%
    06/27 +028.76% +007.94% +071.36% -045.40% -062.56% +077.80%
    06/30 -056.10% -003.01% -568.58% -100.05% -566.02% -164.54%
    ---- 5-day rate of change ----
    06/19 +012.71% +028.03% +066.87% +082.61% +086.90% +076.45%
    06/20 +076.41% -169.84% -001.73% -134.47% -401.18% -295.87%
    06/23 +256.29% -014.42% +176.52% +215.97% +144.89% +101.84%
    06/24 +007.10% -005.04% -466.17% +029.49% -090.78% -563.20%
    06/25 -099.79% -033.65% -077.40% -044.27% -1299.57% -299.93%
    06/26 -30704.79% -012.24% -028.44% -132.99% -053.22% +025.47%
    06/27 +082.53% +079.98% +052.92% -011.78% +045.31% +171.37%
    06/30 -746.10% +096.59% -155.66% -192.42% -067.77% -124.15%

    Rolling 5-day ORIGINAL inflection point calculation aggregate change:
    ******* ******* *5 Day** *10 Day * * 25Day ** 50 Day **100Day* 200 Day
    06/19 5 Day -0192.50 +0635.57 +0670.76 +0915.51 +1754.28 +0829.17
    06/20 5 Day -0272.50 -0320.25 +0531.24 +0928.55 +2570.80 +0496.98
    06/23 5 Day -0103.34 -0604.27 +0511.22 +1014.32 +2365.41 +0561.28
    06/24 5 Day -0064.46 -0575.88 +0003.46 +1679.40 +2185.83 +0810.03
    06/25 5 Day -0287.09 -0586.94 -0234.67 +1335.09 +1561.59 +0845.69
    06/26 5 Day -0467.81 -0660.31 -0550.78 +0942.03 +0456.84 +0892.99
    06/27 5 Day -0336.74 -0609.24 -0202.94 +0498.28 +0075.46 +1201.74
    06/30 5 Day -0515.28 -0618.62 -1004.50 +0023.15 -0208.84 +0924.58

    Average change/day, 5 days
    ____ **5 Day *10 Day *25 Day *50 Day 100 Day 200 Day
    06/19 -204.12 +207.12 -025.43 -061.05 +037.14 -189.18
    06/20 -044.95 -127.47 +039.92 -017.04 +314.23 -267.09
    06/23 +079.52 -168.83 -003.83 +239.80 +319.01 -100.30
    06/24 +089.39 -167.83 -126.07 +424.91 +261.52 +099.16
    06/25 +002.55 -225.94 -198.03 +303.55 +112.66 +059.60
    06/26 -055.06 -259.18 -244.31 +005.30 -259.49 +012.76
    06/27 -012.85 -057.80 -146.84 -086.06 -499.07 +140.95
    06/30 -082.39 -002.87 -303.14 -198.23 -514.85 +072.66

    Rolling 5-day NEWER inflection point calculation aggregate change:
    ******* ******* *5 Day** *10 Day * * 25Day ** 50 Day **100Day* 200 Day
    06/19 5 Day -0028.39 +0110.83 +0115.95 +0221.01 +0308.51 +0389.74
    06/20 5 Day -0042.91 -0050.32 +0069.70 +0153.59 +0153.15 -0068.98
    06/23 5 Day -0016.14 -0094.00 +0081.27 +0188.11 +0139.89 -0043.63
    06/24 5 Day -0008.45 -0085.44 +0022.13 +0350.21 +0283.53 +0298.03
    06/25 5 Day -0043.15 -0089.31 -0027.05 +0246.20 +0097.30 +0077.44
    06/26 5 Day -0070.57 -0100.64 -0081.94 +0163.45 -0014.45 +0083.94
    06/27 5 Day -0050.27 -0092.65 -0023.47 +0089.25 -0023.49 +0149.25
    06/30 5 Day -0078.47 -0095.44 -0156.93 -0000.05 -0156.47 -0096.33

    Average change/day, 5 days
    ____ **5 Day *10 Day *25 Day *50 Day 100 Day 200 Day
    06/19 -0033.95 +0033.59 -0006.09 -0017.78 -0016.94 -0060.85
    06/20 -0008.01 -0023.46 -0006.20 -0041.70 -0084.88 -0240.89
    06/23 +0012.52 -0026.84 +0004.74 +0048.36 +0038.10 +0004.43
    06/24 +0013.41 -0028.19 -0017.37 +0062.61 +0003.51 -0020.52
    06/25 +0000.03 -0037.68 -0030.81 +0034.89 -0042.16 -0082.06
    06/26 -0008.43 -0042.29 -0039.58 -0011.51 -0064.59 -0061.16
    06/27 -0001.47 -0008.47 -0018.63 -0012.87 -0035.33 +0043.65
    06/30 -0012.47 -0000.29 -0047.64 -0037.63 -0059.27 -0010.54

    Dly Sht % of 'sells' values JIC it turns out to be useful...
    ============ 2014 ===============
    Mon. 03/24 36.88% 97.94% 50.67% 44.05% 111.73%
    Mon. 03/28 54.06% 89.25% 33.83% 65.59% 97.05%
    Mon. 04/07 45.66% 19.84% 39.98% 23.89% 12.70%
    Mon. 04/14 45.33% 40.47% 91.81% 104.74% (short week)
    Mon. 04/21 26.55% 153.62% 67.25% 18.15% 13.76%
    Mon. 04/28 19.56% 75.57% 10.59% 53.35% 146.92%
    Mon. 05/05 06.75% 17.36% 25.05% 91.05% 26.31%
    Mon. 05/12 8.83% 5.83% 55.91% 129.18% 43.96%
    Mon. 05/19 114.88% 62.66% 16.13% 113.62% 202.40%
    Tue. 05/27 558.01% 82.58% 62.65% 5.48%
    Mon. 06/02 92.28% 106.34% 21.82% 68.00% 78.39%
    Mon. 06/09 394.94% 36.50% 20.32% 3.25% 59.37%
    Mon. 06/16 3.08% 20.04% 115.38% 123.91% 41.58%
    Mon. 06/23 1.32% 14.66% 42.12% 4.77% 0.00%
    Mon. 06/30 14.06%

    ============ 2013 ===============
    Dec Avg: 29.22%, min: 02.10%, max: 063.82%
    ============ 2014 ===============
    Jan Avg: 54.66%, min: 09.32%, max: 130.29%
    Feb Avg: 50.44%, min: 00.28%, max: 112.52%
    Mar Avg: 85.68%, min: 16.78%, max: 335.39%
    Apr Avg: 51.85%, min: 10.59%, max: 153.62%
    May Avg: 87.09%, min: 05.48%, max: 558.01%
    Jun Avg: 60.10%, min: 00.00%, max: 394.94%

    0630 Vol 0675553, Sht 0079920 11.83% LHC 0.1401 0.1510 0.1403 b:s 1:5.49
    0627 Vol 0098949, Sht 0000000 00.00% LHC 0.1500 0.1525 0.1510 b:s 1:2.45
    0626 Vol 0075823, Sht 0002363 03.12% LHC 0.1501 0.1600 0.1501 b:s 1:2.27
    0625 Vol 0161508, Sht 0050536 31.29% LHC 0.1500 0.1600 0.1539 b:s 1:3.80
    0624 Vol 0426360, Sht 0053499 12.55% LHC 0.1500 0.1529 0.1501 b:s 1:6.43
    0623 Vol 0195270, Sht 0002500 01.28% LHC 0.1502 0.1544 0.1520 b:s 1:34.32
    0620 Vol 0147060, Sht 0048400 32.93% LHC 0.1510 0.1545 0.1520 b:s 1:3.80
    0619 Vol 0188752, Sht 0078694 41.69% LHC 0.1520 0.1545 0.1545 b:s 1.97:1
    0618 Vol 0085290, Sht 0045000 52.76% LHC 0.1520 0.1549 0.1544 b:s 1.19:1
    0617 Vol 0376829, Sht 0059356 15.75% LHC 0.1501 0.1565 0.1550 b:s 1:3.67
    0616 Vol 0087890, Sht 0002589 02.95% LHC 0.1501 0.1569 0.1550 b:s 1:21.70
    0613 Vol 0026407, Sht 0007500 28.40% LHC 0.1540 0.1570 0.1541 b:s 1.09:1
    0612 Vol 0047330, Sht 0001250 02.64% LHC 0.1515 0.1600 0.1540 b:s 1:4.33
    0611 Vol 0166574, Sht 0029073 17.45% LHC 0.1510 0.1599 0.1515 b:s 1:6.09
    0610 Vol 0172006, Sht 0046706 27.15% LHC 0.1500 0.1649 0.1501 b:s 1:2.90
    0609 Vol 0298773, Sht 0210580 70.48% LHC 0.1531 0.1649 0.1600 b:s 4.60:1
    0606 Vol 0315525, Sht 0121500 38.51% LHC 0.1501 0.1625 0.1550 b:s 1.05:1[139]
    0605 Vol 0234725, Sht 0084400 35.96% LHC 0.1535 0.1658 0.1625 b:s 1:1.12
    0604 Vol 0087850, Sht 0013400 15.25% LHC 0.1510 0.1699 0.1644 b:s 1:2.32
    0603 Vol 0102057, Sht 0034507 33.81% LHC 0.1622 0.1700 0.1622 b:s 2.15:1
    0602 Vol 0077384, Sht 0030515 39.43% LHC 0.1506 0.1696 0.1684 b:s 1.34:1
    0530 Vol 0996618, Sht 0050916 05.11% LHC 0.1530 0.1760 0.1698 b:s 1:13.68
    0529 Vol 0056002, Sht 0021300 38.03% LHC 0.1707 0.1760 0.1745 b:s 1:1.55
    0528 Vol 0320588, Sht 0083803 26.14% LHC 0.1710 0.1800 0.1760 b:s 2.16:1
    0527 Vol 0232101, Sht 0111601 48.08% LHC 0.1620 0.1710 0.1710 b:s 10.61:1
    0523 Vol 0460894, Sht 0257650 55.90% LHC 0.1575 0.1649 0.1649 b:s 2.62:1
    0522 Vol 0573849, Sht 0406600 70.85% LHC 0.1575 0.1630 0.1575 b:s 1:1.62[138]
    0521 Vol 0207150, Sht 0019150 09.24% LHC 0.1560 0.1650 0.1625 b:s 1:1.34
    0520 Vol 0275316, Sht 0087179 31.67% LHC 0.1604 0.1687 0.1630 b:s 1:1.02
    0519 Vol 0139406, Sht 0058475 41.94% LHC 0.1650 0.1730 0.1650 b:s 1.74:1
    0516 Vol 1000909, Sht 0291145 29.09% LHC 0.1600 0.1800 0.1650 b:s 1:1.90[137]
    0515 Vol 0464387, Sht 0192250 41.40% LHC 0.1550 0.1823 0.1668 b:s 2.12:1
    0514 Vol 1846426, Sht 0579965 31.41% LHC 0.1460 0.1891 0.1755 b:s 1:1.33
    0513 Vol 0177697, Sht 0010000 05.63% LHC 0.1360 0.1479 0.1390 b:s 1:6.55[136]
    0512 Vol 0408028, Sht 0040423 09.91% LHC 0.1350 0.1450 0.1400 b:s 1:5.70[135]
    0509 Vol 0522796, Sht 0099219 18.98% LHC 0.1381 0.1470 0.1400 b:s 1:2.58
    0508 Vol 0364523, Sht 0113993 31.27% LHC 0.1410 0.1450 0.1448 b:s 1.91:1
    0507 Vol 0996741, Sht 0182201 18.28% LHC 0.1300 0.1410 0.1400 b:s 1:2.47[134]
    0506 Vol 0466886, Sht 0053600 11.48% LHC 0.1302 0.1410 0.1311 b:s 1:1.95
    0505 Vol 0318991, Sht 0015440 04.84% LHC 0.1302 0.1490 0.1349 b:s 1:2.65
    0502 Vol 1069260, Sht 0594098 55.56% LHC 0.1250 0.1500 0.1420 b:s 1.59:1

    [133] There were 5 pre-market trades for 32,130 shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 3,051,048 to 3,083,568 and would lower the short percentage from 29.97% to 29.66%. If the shares are also added to the short sales, the short volume moves from 914,664 to 946,794 and the short percentage would be 30.70%.
    [134] There was an AH trade for 25,000 shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 996,840 to 1,021,840 and would lower the short percentage from 18.28% to 17.83%. If the shares are also added to the short sales, the short volume moves from 182,201 to 207,201 and the short percentage would be 20.28%.
    [135] There was an AH trade for 130K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 408,828 to 538,028 and would lower the short percentage from 9.91% to 7.51%. If the shares are also added to the short sales, the short volume moves from 40,423 to 170,423 and the short percentage would be 31.68%.
    [136] There was an AH trade for 20K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 177,607 to 197,687 and would lower the short percentage from 5.63% to 5.06%. If the shares are also added to the short sales, the short volume moves from 10,000 to 30,0004 and the short percentage would be 15.17%.
    [137] There were two pre-market trades totaling 10K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 1,000,909 to 1,010,909 and would lower the short percentage from 29.09% to 28.80%. If the shares are also added to the short sales, the short volume moves from 291,145 to 301,145 and the short percentage would be 29.79%.
    [138] There was one after-market trade of 5K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 573,849 to 578,849 and would lower the short percentage from 70.85% to 70.24%. If the shares are also added to the short sales, the short volume moves from 406,600 to 411,600 and the short percentage would be 71.11%.
    [139] There was one after-market trade of 2.5K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 315,525 to 318,025 and would lower the short percentage from 38.51% to 38.20%. If the shares are also added to the short sales, the short volume moves from 121,500 to 124,000 and the short percentage would be 38.99%.

    06/27/2014: EOD stuff partially copied to the concentrator.
    # Trds: 19, MinTrSz: 311, MaxTrSz: 15000, Vol: 98949, AvTrSz: 5208
    Min. Pr: 0.1500, Max Pr: 0.1525, VW Avg. Tr. Pr: 0.1506
    # Buys, Shares: 7 28700, VW Avg Buy Pr: 0.1518
    # Sells, Shares: 12 70249, VW Avg Sell Pr: 0.1501
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:2.45 (29.00% "buys"), DlyShts 0 (00.00%), Dly Sht % of 'sells' 0.00%

    It's looking like typical last week and first week of the month behavior for now - flat instead of falling. I can't say behavior will hold another week with holidays coming and extremes in low volume, daily shorts percentage and price compression. Neither can I say it won't hold.

    Today we traded $14,897.30 of shares, up from yesterday's $11,487.45. In spite of the few trades and small volume, there was enough improvement to make me think the usual breakdowns by time or price might be worth the effort.

    We had two "outliers" today - a 5K $0.1524 buy at 09:53 and a 10K $0.1525 buy at 10:07. All other trades were <= $0.1510. Sans these two trades, buy percentage (using the aggregate reduced volume) becomes 16.32% instead of the reported 29%, VWAP becomes $0.1502 instead of $0.1506.

    I saw the 243K bid at $0.15 from CDEL right at the open today. My read at 11:21, before the $0.1501 bid from CDEL masked the $0.15 bid, had it at 229K and another 100K from BNCH. BNCH was 99K at 15:06, my last read today, and the CDEL $0.15 was still masked by the $0.1501.

    There was one larger trade today of 15K at 11:21:13 for $0.1500.

    Although we managed to improve the buy percentage again, it should not be given any weight with this kind of volume combined with the "outliers" mentioned above. Ditto for the daily short sales percentage - extremely low volumes have occasionally produced zero percentages in the past.

    Recent VWAPs oldest through today: $0.1535,$0.1539, $0.1530, $0.1506, $0.1504, $0.1513, $0.1515 and $0.1506 ($0.1502 if those "outliers" are excluded). 5, 10 and 25-day VWAP averages, are all still descending. Today they are $0.1509, $0.1520 and $0.1578 respectively.

    The longer-term rising support I described a few days back (short form: low of 2/24 through the low of 6/23), broken yesterday by the low and the close, was above the day's high, meaning we traded completely below it and closed below it a second consecutive day. This is supposed to be "confirmation" of a break out of some potential directional constraint.

    Yesterday I said for now I suspect it will not affect anything. So far the typical "stop falling and go flat last week of the month and first week of next month" seems to be playing out. This is one reason I'm not expecting any movement in price in spite of the traditional TA stuff suggesting we should start falling.

    We traded completely below the mid-point of the Bollinger range today, 0.1453 - $0.1653. The oscillators I watch are mixed with all at low levels and some weakening, some flat and some showing the first signs of improvement. I draw no conclusions form this, especially in a low-volume environment.

    Today's low, high, VWAP, trade volume, and daily short sales moved -0.07%, -4.69%, -0.63%, 30.50% and -100.00% respectively. Price spread today was 1.67% vs. 6.60%, 6.67%, 1.93%, 2.80%, 2.32%, 1.64%, 1.91%, 4.26% and 4.53% on prior days.

    If we exclude the two "outliers" mentioned above the day's high becomes $0.1510 and movements of the high and VWAP become -5.63% and -0.86% respectively. The day's spread becomes 0.67%.

    Here's a trading breakdown by arbitrary time-frames, although it's utility may be marginal with the low volume. Note the first entry includes the "outliers" mentioned above. Sans these two trades, buy percentage becomes 0%, VWAP becomes $0.1501 and percentage of the (reduced) volume becomes 45.5%.
    09:30-10:07: 053200 shrs, 53.77% of vol, VWAP $0.1508, 028.2% buys
    11:21-12:25: 027349 shrs, 27.64% of vol, VWAP $0.1500, 000.0% buys
    12:44-12:57: 010200 shrs, 10.31% of vol, VWAP $0.1506, 053.9% buys
    13:10-15:20: 008200 shrs, 08.29% of vol, VWAP $0.1510, 100.0% buys

    Here's a trading breakdown by arbitrary price range, although it's utility may be marginal with the low volume.
    $0.1500-$0.1500: 042700 shrs, 43.15% of vol, VWAP $0.1500, 000.0% buys
    $0.1501-$0.1501: 012549 shrs, 12.68% of vol, VWAP $0.1501, 000.0% buys
    $0.1502-$0.1502: 015000 shrs, 15.16% of vol, VWAP $0.1502, 000.0% buys
    $0.1510-$0.1510: 013700 shrs, 13.85% of vol, VWAP $0.1510, 100.0% buys
    $0.1524-$0.1525: 015000 shrs, 15.16% of vol, VWAP $0.1525, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%
    06/27 $0.1506 -00.63% 29.0%

    Regarding my newer inflection point calculations, today switched to two improved and four weaker from yesterday's only one period is weaker, which was the five-day. Is it still typical low-volume noise going on? I'm beginning to think a trend will shortly appear.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -049.25 -020.95 -0254.43 -0945.23 -02406.04 -06779.28
    -070.20 -062.65 -0245.56 -1043.19 -02474.55 -07014.77
    -316.72 -333.60 -1213.34 -5732.46 -17038.80 -53507.42
    -034.40 -038.82 -0141.96 -0753.12 -02087.62 -06380.34
    -048.26 -054.14 -0187.48 -0700.28 -02083.74 -06492.57
    -065.39 -114.95 -0173.16 -0757.12 -02266.15 -06822.91
    -078.66 -148.10 -0223.43 -0692.98 -02191.02 -06716.74
    -091.97 -140.87 -0228.39 -0667.19 -02113.59 -06461.46
    -104.97 -139.46 -0223.90 -0589.67 -02102.07 -06296.39
    -098.54 -146.79 -0210.95 -0611.03 -02107.24 -06343.32

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/26/2014: EOD stuff partially copied to the concentrator.
    # Trds: 17, MinTrSz: 160, MaxTrSz: 13000, Vol: 75823, AvTrSz: 4460
    Min. Pr: 0.1501, Max Pr: 0.1600, VW Avg. Tr. Pr: 0.1515
    # Buys, Shares: 9 21823, VW Avg Buy Pr: 0.1532
    # Sells, Shares: 7 49500, VW Avg Sell Pr: 0.1507
    # Unkn, Shares: 1 4500, VW Avg Unk. Pr: 0.1520
    Buy:Sell 1:2.27 (28.78% "buys"), DlyShts 2363 (03.12%), Dly Sht % of 'sells' 4.77%

    Today we traded $11,487.45 of shares. In light of the few trades and small volume, there's no breakdowns by time or price today - just not worth the effort.

    We had one buy of 363 shares at $0.16 at the open. Combined with some of the other buys at $0.1540, we can total to the day's short sales of 2,363.

    The 243K bid at $0.15 from CDEL appeared at 10:23 today. It could have been there from the open but was masked by higher bids, beginning with $0.152 x 8.5K, by CDEL from 9:30 until 10:23 or so.

    There were no larger trades today.

    Although we managed to improve the buy percentage again, it's should not be given any weight with this kind of volume.

    Recent VWAPs oldest through today: $0.1517, $0.1535,$0.1539, $0.1530, $0.1506, $0.1504, $0.1513 and $0.1515. 5, 10 and 25-day VWAP averages, are all still descending. Today they are $0.1514, $0.1526 and $0.1581 respectively.

    We traded completely above and closed above my short-term descending resistance again. I'm figuring it's out of play now as the near-term outlook is that $0.15 will continue to hold and the line is well below that now.

    The longer-term rising support I described a few days back (short form: low of 2/24 through the low of 6/23) was broken today by the low and the close. For now I suspect it also will not affect anything. If we start to get a rise in share price, the line may come back into play as resistance, so I'll leave in place.

    We are still roughly mid-point of the Bollinger range, $0.14~0.145 - $0.1775.

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.07%, 0.00%, 0.11%, -53.05% and -95.32% respectively. Price spread today was 6.60% vs. 6.67%, 1.93%, 2.80%, 2.32%, 1.64%, 1.91%, 4.26%, 4.53% and 1.95% on prior days.

    No trading breakdown by arbitrary time-frames today.

    No breakdown by arbitrary price range today.

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%
    06/26 $0.1515 +00.11% 28.8%

    There were no larger trades today.

    Regarding my newer inflection point calculations, today only one period is weaker, but it is the five-day. Still typical low-volume noise going on I guess.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -005.36 -003.81 -0257.18 -0853.87 -02236.89 -06423.59
    -049.25 -020.95 -0254.43 -0945.23 -02406.04 -06779.28
    -070.20 -062.65 -0245.56 -1043.19 -02474.55 -07014.77
    -316.72 -333.60 -1213.34 -5732.46 -17038.80 -53507.42
    -034.40 -038.82 -0141.96 -0753.12 -02087.62 -06380.34
    -048.26 -054.14 -0187.48 -0700.28 -02083.74 -06492.57
    -065.39 -114.95 -0173.16 -0757.12 -02266.15 -06822.91
    -078.66 -148.10 -0223.43 -0692.98 -02191.02 -06716.74
    -091.97 -140.87 -0228.39 -0667.19 -02113.59 -06461.46
    -104.97 -139.46 -0223.90 -0589.67 -02102.07 -06296.39

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/25/2014: EOD stuff partially copied to the concentrator.
    # Trds: 21, MinTrSz: 500, MaxTrSz: 55000, Vol: 161508, AvTrSz: 7691
    Min. Pr: 0.1500, Max Pr: 0.1600, VW Avg. Tr. Pr: 0.1513
    # Buys, Shares: 10 31536, VW Avg Buy Pr: 0.1551
    # Sells, Shares: 10 119972, VW Avg Sell Pr: 0.1503
    # Unkn, Shares: 1 10000, VW Avg Unk. Pr: 0.1520
    Buy:Sell 1:3.80 (19.53% "buys"), DlyShts 50536 (31.29%), Dly Sht % of 'sells' 42.12%

    Today's close was brought to you by a single buy of 1,680 shares for $0.1539 at 15:27:40, three seconds after a sell of 4K shares for $0.1500 at 15:27:37, which was but one trade in a string of eight at <= $0.151 totaling 100,472 shares from 13:40 onward. All but one trade of 1K shares were sells.

    Today reminds me of the trading typical of the last week of a month and the first week of the following month. VWAP is flattish or slightly up, rather than trending lower. Yeah, it's only one day, but after the heavy selling and VWAP of the prior three days even a relief rally looks good. Of course, buy percentage was still only 19.5% and sell percentage was still 74.3%, so it's not all that much of a relief.

    Only the VWAP up a piddling 0.62% could be considered "relief". And the three trades totaling 8K shares at $0.16 was a relief I guess. One was at 9:52 and two were at 10:05.

    The large bids at $0.15 - 298K from CDEL, ETRF 100K and ATDF and NITE for smaller quantities occasionally, were here again. Another 59K was sold into it. At day's end CDEL still had 243K bid.

    Yesterday's question was are the sellers out or not. The answer seems to be not yet.

    We again managed to improve the buy percentage - we got to 19.5% from yesterday's 13.3% and the prior 2.8%. Still not great, but better. The daily short sales percentage behaved, moving from 12.55% to 31.29% today.

    Recent VWAPs oldest through today: $0.1540, $0.1517, $0.1535,$0.1539, $0.1530, $0.1506, $0.1504 and $0.1513. 5, 10 and 25-day VWAP averages, all still descending, are down to $0.1518, $0.1530 and $0.1585 from yesterday's $0.1523, $0.1533 and $0.1590 and the prior $0.1525, $0.1537 and $0.1597. The fifty-day is trending down as well, now $0.1525 vs. prior values of $0.1528, $0.1531 and $0.1537.

    Well, we closed above my short-term descending resistance for the second day. If this wasn't the last week of the month I might get all giddy thinking we had a meaningful "break out". But with the patterns for last and first week of the months in mind, I am withholding judgment. I did say yesterday that with the close being barely above (hard to tell - maybe 1/100th penny?) I'm going to leave the line for another day or two.

    Of the longer-term rising support I described a few days back (short form: low of 2/24 through the low of 6/23), I said if we close below it again, it is no longer in play ... unless it's another one of those "squeakers", in which case I leave it and see if we come back. Our low looks to be sitting right on it. Our "miraculous" $0.1539 close managed to keep the close above it. If we throw out that 1,680 share trade 3 seconds later that the prior one at $0.15 (and which had lots of company), we would have closed below it.

    For now I am not treating the action as a close above.

    With the upper Bollinger limit drop and the higher trading range today we are roughly mid-point of the $0.14 - $0.17 range. That removes my thought that we might get some lift from being well below mid-range.

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.00%, 4.64%, 0.62%, -62.12% and -5.54% respectively. Price spread today was 6.67% vs. 1.93%, 2.80%, 2.32%, 1.64%, 1.91%, 4.26%, 4.53%, 1.95% and 5.61% on prior days.

    Here's a trading breakdown by arbitrary time-frames. Note that the last period was a single trade three seconds after the last trade in a long string of trades at <=$0.151. Also, trades through the period ending at 10:05 were all buys and included the day's three $0.16 trades.
    09:30-09:30: 030000 shrs, 18.57% of vol, VWAP $0.1531, 050.0% buys
    09:52-10:05: 008000 shrs, 04.95% of vol, VWAP $0.1600, 100.0% buys
    11:49-11:58: 020356 shrs, 12.60% of vol, VWAP $0.1502, 023.9% buys
    12:58-13:59: 081472 shrs, 50.44% of vol, VWAP $0.1504, 001.2% buys
    15:25-15:27: 020000 shrs, 12.38% of vol, VWAP $0.1501, 005.0% buys
    15:27-15:27: 001680 shrs, 01.04% of vol, VWAP $0.1539, 100.0% buys

    Here's a breakdown by arbitrary price range.
    $0.1500-$0.1502: 095356 shrs, 59.04% of vol, VWAP $0.1501, 006.1% buys
    $0.1510-$0.1520: 040472 shrs, 25.06% of vol, VWAP $0.1513, 000.0% buys
    $0.1539-$0.1569: 017680 shrs, 10.95% of vol, VWAP $0.1544, 100.0% buys
    $0.1600-$0.1600: 008000 shrs, 04.95% of vol, VWAP $0.1600, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%
    06/25 $0.1513 +00.62% 19.5%

    The larger trades (>= 15K) occurred on 2 of the 21 trades, 9.52%. These 75,000 shares were 46.44% of day's volume, and traded at a VWAP of $0.1503. Both were "sells" - one of 55K at $0.15 and one of 20K at $0.1510.

    The other 19 trades, 90.48% of the day's trades, traded 86,508 shares, 53.56% of the days volume. The VWAP was $0.1523. 10 trades, 52.63%, were buys and accounted for 31,536 shares, 36.45% of the smaller trade volume, and traded at a VWAP of $0.1551. 8 trades, 42.11%, were sells and accounted for 44,972 shares, 51.99% of the smaller trade volume, and traded at a VWAP of $0.1504. 1 trades, 5.26%, were unknown and accounted for 10,000 shares, 11.56% of the smaller trade volume, and traded at a VWAP of $0.1520.

    Regarding my newer inflection point calculations, yesterday I noted we're at three weaker and thought stuff would be more negative tomorrow I thought. Well, missed that one as buy percentage improved. Today only two are weaker. Still typical low-volume noise going on I guess.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -006.01 -149.65 -0257.91 -0974.13 -02396.13 -06770.08
    -005.36 -003.81 -0257.18 -0853.87 -02236.89 -06423.59
    -049.25 -020.95 -0254.43 -0945.23 -02406.04 -06779.28
    -070.20 -062.65 -0245.56 -1043.19 -02474.55 -07014.77
    -316.72 -333.60 -1213.34 -5732.46 -17038.80 -53507.42
    -034.40 -038.82 -0141.96 -0753.12 -02087.62 -06380.34
    -048.26 -054.14 -0187.48 -0700.28 -02083.74 -06492.57
    -065.39 -114.95 -0173.16 -0757.12 -02266.15 -06822.91
    -078.66 -148.10 -0223.43 -0692.98 -02191.02 -06716.74
    -091.97 -140.87 -0228.39 -0667.19 -02113.59 -06461.46

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily jpost above.

    06/24/2014: EOD stuff partially copied to the concentrator.
    # Trds: 30, MinTrSz: 700, MaxTrSz: 100000, Vol: 426360, AvTrSz: 14212
    Min. Pr: 0.1500, Max Pr: 0.1529, VW Avg. Tr. Pr: 0.1504
    # Buys, Shares: 7 56757, VW Avg Buy Pr: 0.1513
    # Sells, Shares: 22 364861, VW Avg Sell Pr: 0.1502
    # Unkn, Shares: 1 4742, VW Avg Unk. Pr: 0.1520
    Buy:Sell 1:6.43 (13.31% "buys"), DlyShts 53499 (12.55%), Dly Sht % of 'sells' 14.66%

    The large bid at $0.15 - 400K from CDEL was combined with the ETRF 100K bid and ATDF's 10K (and NITE off and on?) to potentially offer support at $0.15 again. My suspicions that the 400K might not be serious was unfounded - it stayed in place and was all gobbled up today along with the other 110K+. Darn good thing too! Over the last several days I had said I thought a lot of folks were looking to get out at >=$0.15, that I thought the $0.15 support moment of truth was near, ...

    All too true it looks like. Now the question is are the sellers out or not. From what I saw late in the day the urge to exit was strong. NITE, ATDF and one MM I couldn't catch frequently lowered offers late in the day at the same time that some buyers took advantage and bought above $0.15, but not by much. In the last hour 89,962 shares traded at a VWAP of $0.1511 with a buy percentage of 48.91%.

    The last time we had "large" apparent support of 700K+, before the new shares from the PIPE deal were in the market, that support didn't hold long and we went down upon exhaustion of that quantity. I don't know we'll repeat but there's been a tendency for market action to do so.

    We did manage to improve the buy percentage from yesterday's 2.8% - we got 13.3%. Not great, but better than a sharp stick in the eye. Concomitant with that, the daily short sales percentage moved from 1.28% to 12.55% today.

    Recent VWAPs oldest through today: $0.1560, $0.1540, $0.1517, $0.1535,$0.1539, $0.1530, $0.1506 and $0.1504. 5, 10 and 25-day VWAP averages, all still descending, are down to $0.1523, $0.1533 and $0.1590 from yesterday's $0.1525, $0.1537 and $0.1597 the prior $0.1532, $0.1546 and $0.1604. The fifty-day is trending down as well, now down to $0.1528 from yesterday's $0.1531 and the prior $0.1537.

    I said yesterday my short-term descending resistance hit $0.15, AFAICT, today and we managed to barely close above it. If we close above it again tomorrow, we can take that line off the chart. We did close above it, but with today's close being barely above (hard to tell - maybe 1/100th penny?) I'm going to leave the line for another day or two.

    Of the longer-term rising support I described yesterday (short form: low of 2/24 through the low of 6/23), I said "Everything I see says we will close below it tomorrow, 6/24, because it is rising and share price is compressing towards $0.15". We did close below it. If we close below it again, it is no longer in play ... unless it's another one of those "squeakers", in which case I leave it and see if we come back.

    For both of these trend lines, the volatility that normally comes with low volume may bring it back, but I doubt it.

    The faint hope on the traditional chart provided by the Bollinger bands is still there, but they continue to fall and there's still no support from the oscillators I watch.

    Today's low, high, VWAP, trade volume, and daily short sales moved -0.13%, -0.97%, -0.13%, 118.34% and 2039.96% respectively. Price spread today was 1.93% vs. 2.80%, 2.32%, 1.64%, 1.91%, 4.26%, 4.53%, 1.95%, 5.61% and 5.89% on prior days.

    Here's a trading breakdown by arbitrary time-frames.
    09:31-09:32: 058970 shrs, 13.83% of vol, VWAP $0.1501, 000.0% buys
    09:41-09:50: 242670 shrs, 56.92% of vol, VWAP $0.1501, 000.0% buys
    10:38-13:06: 019758 shrs, 04.63% of vol, VWAP $0.1519, 064.6% buys
    13:13-15:00: 016220 shrs, 03.80% of vol, VWAP $0.1501, 000.0% buys
    15:16-15:28: 038742 shrs, 09.09% of vol, VWAP $0.1524, 038.1% buys
    15:29-15:59: 050000 shrs, 11.73% of vol, VWAP $0.1502, 058.5% buys

    Here's a breakdown by arbitrary price range.
    $0.1500-$0.1502: 339232 shrs, 79.56% of vol, VWAP $0.1500, 008.3% buys
    $0.1510-$0.1519: 044370 shrs, 10.41% of vol, VWAP $0.1513, 022.5% buys
    $0.1520-$0.1529: 042758 shrs, 10.03% of vol, VWAP $0.1524, 043.9% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%
    06/24 $0.1504 -00.13% 13.3%

    The larger trades (>= 15K) occurred on 9 of the 30 trades, 30.00%. These 320,527 shares were 75.18% of day's volume, and traded at a VWAP of $0.1502. 1 of the larger trades, 11.11%, were buys of 24,999 shares, 7.80% of the larger trades volume, and traded at a VWAP of $0.1501. 8 of the larger trades, 88.89%, were sells of 295,528 shares, 92.20% of the larger trades volume, and traded at a VWAP of $0.1502.

    The other 21 trades, 70.00% of the day's trades, traded 105,833 shares, 24.82% of the days volume. The VWAP was $0.1511. 6 trades, 28.57%, were buys and accounted for 31,758 shares, 30.01% of the smaller trade volume, and traded at a VWAP of $0.1522. 14 trades, 66.67%, were sells and accounted for 69,333 shares, 65.51% of the smaller trade volume, and traded at a VWAP of $0.1504. 1 trades, 4.76%, were unknown and accounted for 4,742 shares, 4.48% of the smaller trade volume, and traded at a VWAP of $0.1520.

    Regarding my newer inflection point calculations, we went from couple days improvement followed by four of the periods weaker and five periods more negative yesterday. Today we're at three weaker. Look for stuff to be more negative tomorrow I think. I guess we have typical low-volume noise going on.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -005.54 -150.66 -0328.36 -0985.12 -02518.98 -07026.63
    -006.01 -149.65 -0257.91 -0974.13 -02396.13 -06770.08
    -005.36 -003.81 -0257.18 -0853.87 -02236.89 -06423.59
    -049.25 -020.95 -0254.43 -0945.23 -02406.04 -06779.28
    -070.20 -062.65 -0245.56 -1043.19 -02474.55 -07014.77
    -316.72 -333.60 -1213.34 -5732.46 -17038.80 -53507.42
    -034.40 -038.82 -0141.96 -0753.12 -02087.62 -06380.34
    -048.26 -054.14 -0187.48 -0700.28 -02083.74 -06492.57
    -065.39 -114.95 -0173.16 -0757.12 -02266.15 -06822.91
    -078.66 -148.10 -0223.43 -0692.98 -02191.02 -06716.74

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/23/2014: EOD stuff partially copied to the concentrator.
    # Trds: 24, MinTrSz: 500, MaxTrSz: 35000, Vol: 195270, AvTrSz: 8136
    Min. Pr: 0.1502, Max Pr: 0.1544, VW Avg. Tr. Pr: 0.1506
    # Buys, Shares: 4 5500, VW Avg Buy Pr: 0.1532
    # Sells, Shares: 19 188770, VW Avg Sell Pr: 0.1505
    # Unkn, Shares: 1 1000, VW Avg Unk. Pr: 0.1520
    Buy:Sell 1:34.32 (02.82% "buys"), DlyShts 2500 (01.28%), Dly Sht % of 'sells' 1.32%

    The 160K offer at $0.17 was not present today.

    However, we had an exorbitantly large bid at $0.15 - 400K from CDEL entered at 09:55 (later made 403K). At 11:25 ETRF piled in with a 100K bid at $0.15 and late in the day ATDF added 17K there, so we had an aggregate 520K bid there. Naturally, no trades went off there - instead the $0.1502 at 100K which BNCH had in from the open acted as the day's low.

    The 100K from ETRF and the 17K from ATDF don't raise any flags for me, but the 400K+ from CDEL strikes me as just another case of rotation of orders among market-makers, possibly in an attempt to be a bit stealthy while providing support for selling above $0.15. My thinking is today's CDEL 400K replaced the ATDF 300K we saw 6/17. As was the case with the 300K from ATDF on 6/17 with a 78.6% sell rate, we again had a high sell percentage, 96.7%, and it was paired with yesterday's 79.2%.

    VWAP had tried to break the prior trend of continuously creeping lower by posting two consecutive days of a higher VWAP. It was not able to maintain that as it returned to the down trend yesterday as VWAP moved down 0.59%. Today confirms the return to the down trend with VWAP down 1.56% and volume up 32,78%. This is not good. Moreover, yesterday we could blame most of it on the few big trades. Not so today as both the larger and normal-sized trades were almost exclusively sells (96.7%) and both groups had VWAPs well down from yesterday's $0.1530, which was down from $0.1539.

    Recent VWAPs oldest through today: $0.1553, $0.1560, $0.1540, $0.1517, $0.1535,$0.1539, $0.1530 and $0.1506. 5, 10 and 25-day VWAP averages, all still descending, are $0.1525, $0.1537 and $0.1597 vs. yesterday's $0.1532, $0.1546 and $0.1604. The fifty-day is trending down as well, now down to $0.1531 from yesterday's $0.1537.

    I still think a seller that really wants out is still in the market because the sell percentage, 96.7%, was even worse than yesterday's 79.2%. There was still no sign of the 300K $0.15 bid from ATDF since then, but it was replaced today by the aggregate 520K bid at $0.15 mentioned above.

    Our daily high lost credibility today with one buy of 1K shares for $0.1544 at 9:35. The next lower price, $0.1540 had two trades totaling 2K shares from 10:39 to 10:41, followed by two trades of 3.5K shares for $0.1520 at 13:39 and the later (attempt to paint a higher close?) 2.5K shares buy at 15:59:30, taking advantage of a $0.152 offer that appeared at 15:55.

    My short-term descending resistance hit $0.15, AFAICT, today and we managed to barely close above it. If we close above it again tomorrow, we can take that line off the chart.

    We have a longer-term rising support originating at the low of 2/24 with touches at the lows of 2/25, 5/2 and now today, 6/23. It's paired with a descending resistance originating at the high of 3/10 and having touches at the highs of 5.14 and 5/28. Adding an imagined vertical line at 3/10 forms an isosceles triangle, commonly termed a pennant in traditional TA. Breakout normally occurs from 66% - 75%, or eve later, along the lateral distance. We are well into that area.

    Everything I see says we will close below it tomorrow, 6/24, because it is rising and share price is compressing towards $0.15.

    One faint hope on the traditional chart is the Bollinger bands. Right now we are in the lower half of the range ($0.1435 - $0.1758) and one always looks for pressure to move back to the mid-point. But both the upper and lower are falling and mid-point could be achieved by the limits moving rather than the price moving. I say the hope is faint because not one of the oscillators I watch has a positive slope offering any support for this hope.

    Today's low, high, VWAP, trade volume, and daily short sales moved -0.53%, -0.06%, -1.56%, 32.78% and -94.83% respectively. Price spread today was 2.80% vs 2.32%, 1.64%, 1.91%, 4.26%, 4.53%, 1.95%, 5.61%, 5.89% and 9.93% on prior days.

    Buy and daily short percentages behaved today - both lower: buy percentage to 2.8% from 20.8% and daily short from 32.91 to 1.28%. Those numbers are not typographical errors!

    Here's a trading breakdown by arbitrary time-frames. Note the last time-frame contains only a single trade that executed when the offer was dropped from $0.1539 to $0.152 at 15:55.
    09:30-10:35: 033000 shrs, 16.90% of vol, VWAP $0.1513, 003.0% buys
    10:39-10:41: 002000 shrs, 01.02% of vol, VWAP $0.1540, 100.0% buys
    11:15-11:49: 082500 shrs, 42.25% of vol, VWAP $0.1505, 000.0% buys
    13:39-15:41: 075270 shrs, 38.55% of vol, VWAP $0.1502, 000.0% buys
    15:59-15:59: 002500 shrs, 01.28% of vol, VWAP $0.1520, 100.0% buys

    Here's a breakdown by arbitrary price range.
    $0.1502-$0.1502: 096800 shrs, 49.57% of vol, VWAP $0.1502, 000.0% buys
    $0.1503-$0.1506: 039970 shrs, 20.47% of vol, VWAP $0.1505, 000.0% buys
    $0.1511-$0.1512: 052000 shrs, 26.63% of vol, VWAP $0.1512, 000.0% buys
    $0.1520-$0.1520: 003500 shrs, 01.79% of vol, VWAP $0.1520, 071.4% buys
    $0.1540-$0.1544: 003000 shrs, 01.54% of vol, VWAP $0.1541, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%
    06/23 $0.1506 -01.56% 02.8%

    The larger trades (>= 15K) occurred on 4 of the 24 trades, 16.67%. These 100,000 shares were 51.21% of day's volume, and traded at a VWAP of $0.1503. All were sells.

    The other 20 trades, 83.33% of the day's trades, traded 95,270 shares, 48.79% of the days volume. The VWAP was $0.1509. 4 trades, 20.00%, were buys and accounted for 5,500 shares, 5.77% of the smaller trade volume, and traded at a VWAP of $0.1532. 15 trades, 75.00%, were sells and accounted for 88,770 shares, 93.18% of the smaller trade volume, and traded at a VWAP of $0.1508.

    Regarding my newer inflection point calculations, the hope offered by a couple days improvement fizzled as we flipped to four of the periods weakened yesterday. I said the other two might follow and OTOH it could be we're just returning to low-volume induced noise. It looks like the former is the case as we now have five periods more negative.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    +067.80 -639.10 -1999.79 -5603.32 -18175.05 -54058.95
    -005.54 -150.66 -0328.36 -0985.12 -02518.98 -07026.63
    -006.01 -149.65 -0257.91 -0974.13 -02396.13 -06770.08
    -005.36 -003.81 -0257.18 -0853.87 -02236.89 -06423.59
    -049.25 -020.95 -0254.43 -0945.23 -02406.04 -06779.28
    -070.20 -062.65 -0245.56 -1043.19 -02474.55 -07014.77
    -316.72 -333.60 -1213.34 -5732.46 -17038.80 -53507.42
    -034.40 -038.82 -0141.96 -0753.12 -02087.62 -06380.34
    -048.26 -054.14 -0187.48 -0700.28 -02083.74 -06492.57
    -065.39 -114.95 -0173.16 -0757.12 -02266.15 -06822.91

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/20/2014: EOD stuff partially copied to the concentrator.
    # Trds: 16, MinTrSz: 92, MaxTrSz: 46000, Vol: 147060, AvTrSz: 9191
    Min. Pr: 0.1510, Max Pr: 0.1545, VW Avg. Tr. Pr: 0.1530
    # Buys, Shares: 4 30660, VW Avg Buy Pr: 0.1543
    # Sells, Shares: 12 116400, VW Avg Sell Pr: 0.1526
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:3.80 (20.85% "buys"), DlyShts 48400 (32.91%), Dly Sht % of 'sells' 41.58%

    The 160K offer at $0.17 was with CSTI today. It seems there's some sort of rotation of the order among various MMs going on. I wonder what the purpose could be if so.

    VWAP, which had been continuously creeping lower, made an apparent first attempt at breaking the trend yesterday with a second consecutive day of a higher VWAP. I noted "However, both days were low volume days, 85.29K and 188.75K, following a relatively higher volume day of 376.83K. I'm waiting to see what develops before reading much into it". Good thing because today the VWAP moved down 0.59% as volume also dropped 22.09%. Most of this was due to the day's larger trades, which accounted for 68.68% of day's volume, and traded at a VWAP of $0.1527.

    Even the smaller trades didn't help though, trading 46,060 shares, 31.32% of the days volume at a VWAP of$0.1535.

    So we have to reset and hope for another potential start of a more positive trend.

    Recent VWAPs oldest through today: $0.1545, $0.1553, $0.1560, $0.1540, $0.1517, $0.1535,$0.1539 and $0.1530. 5, 10 and 25-day VWAP averages, all still descending, are $0.1532, $0.1546 and $0.1604 vs. yesterday's $0.1538, $0.1550 and $0.1610 vs. the prior $0.1541, $0.1556 and $0.1617. The fifty-day is trending down as well, now down to $0.1537.

    I think a seller that really wants out is still in the market because the sell percentage was 79.2%, fortunately on low volume, versus that 78.6% on 376.83K on 6/17. Still no sign of the 300K $0.15 bid from ATDF since then.

    The day's low was very unusual - still a single trade but his time with volume of 46K for $0.1510 at 11:24. No bid or ask at this price was seen. The next higher price, $0.1520, had six trades for 9.4K shares.

    Our daily high was again credible today with three buys at $0.1545 totaling 21,660 shares. The suspicious one - again we have one - was 160 shares at 15:36. If it was an attempt to paint a higher close, it was defeated by a later trade. The volume was still not large enough to be a big green flag, but it was large enough, barely I guess, to not be a red one.

    I mentioned yesterday that at last the highs challenged my descending resistance but in reality it was the descending resistance which is doing the challenging as it dropped faster than the highs had dropped and we closed above it with three trades (one of 700 shares at 15:59:41) at $0.1545 in the last eighteen minutes of the day.

    Well, scratch that positive indicator. Today we closed below it again with a 1K share (actually a 908 and 92 share odd lot) at 15:48, the last trade of the day, for $0.152. The descending resistance appears to be ~$0.153 AFAICT. This consistent inability to break and close above this resistance, even when the buy percentages are relatively high, is getting very concerning. Low volume may be the cause, but trading range is being "compressed" right down to the $0.15 support with little sign of wanting to pull up and away from it. If it can't do that I think it eventually has to drop below $0.15.

    But it's starting to get serious here as the traditional TA stuff is shaping up in a decidedly unfriendly fashion. As opposed to yesterday when the oscillators I watch had a more positive slant, today all but MFI weakened. RSI dropped to 44 from 47, momentum went from 95 to 92, Williams %R dipped back into oversold, full stochastic went from positive to flat and ADX's DI+ weakened from its already-weak 12 to 11.

    Today's low, high, VWAP, trade volume, and daily short sales moved -0.66%, 0.00%, -0.59%, -22.09% and -38.50% respectively. Price spread today was 2.32% vs. 1.64%, 1.91%, 4.26%, 4.53%, 1.95%, 5.61%, 5.89%, 9.93% and 7.71% on prior days.

    Buy and daily short percentages behaved today - both lower: buy percentage to 20.8 from 66.4 and daily short from 41.69 to 32.91.

    Here's a trading breakdown by arbitrary time-frames.
    09:43-09:48: 008400 shrs, 05.71% of vol, VWAP $0.1520, 000.0% buys
    11:12-11:56: 089000 shrs, 60.52% of vol, VWAP $0.1524, 001.7% buys
    14:34-14:39: 028500 shrs, 19.38% of vol, VWAP $0.1540, 031.6% buys
    15:30-15:48: 021160 shrs, 14.39% of vol, VWAP $0.1544, 095.3% buys

    Here's a breakdown by arbitrary price range.
    $0.1510-$0.1510: 046000 shrs, 31.28% of vol, VWAP $0.1510, 000.0% buys
    $0.1520-$0.1520: 010900 shrs, 07.41% of vol, VWAP $0.1520, 000.0% buys
    $0.1539-$0.1539: 009000 shrs, 06.12% of vol, VWAP $0.1539, 100.0% buys
    $0.1540-$0.1540: 059500 shrs, 40.46% of vol, VWAP $0.1540, 000.0% buys
    $0.1545-$0.1545: 021660 shrs, 14.73% of vol, VWAP $0.1545, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%
    06/20 $0.1530 -00.59% 20.8%

    The larger trades (>= 15K) occurred on 4 of the 16 trades, 25.00%. These 101,000 shares were 68.68% of day's volume, and traded at a VWAP of $0.1527. 1 of the larger trades, 25.00%, were buys of 20,000 shares, 19.80% of the larger trades volume, and traded at a VWAP of $0.1545. 3 of the larger trades, 75.00%, were sells of 81,000 shares, 80.20% of the larger trades volume, and traded at a VWAP of $0.1523.

    The other 12 trades, 75.00% of the day's trades, traded 46,060 shares, 31.32% of the days volume. The VWAP was $0.1535. 3 trades, 25.00%, were buys and accounted for 10,660 shares, 23.14% of the smaller trade volume, and traded at a VWAP of $0.1540. 9 trades, 75.00%, were sells and accounted for 35,400 shares, 76.86% of the smaller trade volume, and traded at a VWAP of $0.1534.

    Regarding my newer inflection point calculations, after having two consecutive days of improvements in all periods subsequent to Tuesday's selling spree, low volume and a low buy percentage of 20.8% brought the prior behavior back. I had said we could start to watch and see if a trend is maintained regardless of volume. That hope fizzled as we flipped to four of the periods weakened again. The other two might follow. OTOH, it could be we're just returning to low-volume induced noise.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    +029.49 -061.16 -0311.99 -0891.57-02355.42-06713.50
    +067.80 -639.10 -1999.79 -5603.32 -18175.05 -54058.95
    -005.54 -150.66 -0328.36 -0985.12 -02518.98 -07026.63
    -006.01 -149.65 -0257.91 -0974.13 -02396.13 -06770.08
    -005.36 -003.81 -0257.18 -0853.87 -02236.89 -06423.59
    -049.25 -020.95 -0254.43 -0945.23 -02406.04 -06779.28
    -070.20 -062.65 -0245.56 -1043.19 -02474.55 -07014.77
    -316.72 -333.60 -1213.34 -5732.46 -17038.80 -53507.42
    -034.40 -038.82 -0141.96 -0753.12 -02087.62 -06380.34
    -048.26 -054.14 -0187.48 -0700.28 -02083.74 -06492.57

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/19/2014: EOD stuff partially copied to the concentrator.
    # Trds: 30, MinTrSz: 400, MaxTrSz: 17500, Vol: 188752, AvTrSz: 6292
    Min. Pr: 0.1520, Max Pr: 0.1545, VW Avg. Tr. Pr: 0.1539
    # Buys, Shares: 20 125244, VW Avg Buy Pr: 0.1543
    # Sells, Shares: 10 63508, VW Avg Sell Pr: 0.1531
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1.97:1 (66.35% "buys"), DlyShts 78694 (41.69%), Dly Sht % of 'sells' 123.91%

    $0.15 has been presenting more support than I expected (but what would've happened Tuesday when we had 376.83K volume and 78.6% "sells" without that 300K bid at $0.15 from ATDF?). We are approaching the moment of truth I think. There are small signs that it may continue to hold. But without volume it is hard to make a judgment with any confidence.

    When I add in the consistent, excepting today I guess, "painting" of the tape with highs set by 3xx-6xx share trades, I'm even less confident. The problem with this is that if they are working, I could be all wrong regardless.

    The 160K offer at $0.17 was again present today, remaining with CDEL.

    VWAP, which was continuously creeping lower, may be breaking the trend. Today is the second consecutive day of a higher VWAP. However, both days were low volume days, 85.29K and 188.75K, following a relatively higher volume day of 376.83K. I'm waiting to see what develops before reading much into it.

    Recent VWAPs oldest through today: $0.1549, $0.1545, $0.1553, $0.1560, $0.1540, $0.1517, $0.1535 and $0.1539. 5, 10 and 25-day VWAP averages, all descending, are $0.1538, $0.1550 and $0.1610 vs. yesterday's $0.1541, $0.1556 and $0.1617. The five-day is now also below the falling 50-day, $0.1542.

    I think today's low volume and buy percentage again confirms the Tuesday volume bump was a seller that really wanted out because the sell percentage was 78.6% on 376.83K, and Wednesday's sell percent was 45.7% on 85.29K, and today's was 33.6% on 188.75K volume.

    The day's low was a single 3,008 share trade for $0.1520 at 15:13:42. The next higher price, $0.1521, had six trades for 17.4K shares.

    At last we've seen a credible daily high - today's $0.1545 had five trades totaling 33K shares. Not large enough to be a big green flag, but large enough to not be a red one. The only one that I didn't like was the obvious assurance of a high close with a 700 share buy for $0.1545 at 15:59:41.

    At last the highs challenged my descending resistance, at ~$0.1535 today, which they had not done beginning 6/11. But in all truth it's the descending resistance which is doing the challenging as it dropped faster than the highs had dropped - the high did not rise up to meet the resistance. Regardless, we closed above it with three trades (one of 700 shares at 15:59:41) at $0.1545 in the last eighteen minutes of the day.

    Now if we only had some volume we could read this as a possible positive. With volume where it's at we have to read it as just another artifact of low-volume volatility I think.

    The oscillators I watch had a more positive slant today - RSI, momentum, Williams %R and full stochastic all ticked up. All are still well below neutral, except that RSI is just a wee bit below at 47.03. ADX related and accum/distribution were flat.

    The interesting bid from ATDF of 300K at $0.15 that I think was bid Tuesday just to support the sellers (78.6% sells with the day's VWAP at $0.1517) did not appear for the second subsequent day. Hmmm ...

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.00%, -0.26%, 0.25%, 121.31% and 74.88% respectively. Price spread today was 1.64% vs. 1.91%, 4.26%, 4.53%, 1.95%, 5.61%, 5.89%, 9.93%, 7.71% and 8.26% on prior days.

    Here's a trading breakdown by arbitrary time-frames.
    09:51-10:00: 010294 shrs, 05.45% of vol, VWAP $0.1544, 100.0% buys
    10:24-11:23: 028500 shrs, 15.10% of vol, VWAP $0.1540, 096.5% buys
    12:41-14:41: 049458 shrs, 26.20% of vol, VWAP $0.1532, 015.2% buys
    15:05-15:08: 025000 shrs, 13.24% of vol, VWAP $0.1544, 100.0% buys
    15:12-15:13: 020000 shrs, 10.60% of vol, VWAP $0.1529, 047.3% buys
    15:30-15:59: 055500 shrs, 29.40% of vol, VWAP $0.1544, 082.0% buys

    Here's a breakdown by arbitrary price range.
    $0.1520-$0.1521: 020408 shrs, 10.81% of vol, VWAP $0.1521, 011.8% buys
    $0.1530-$0.1539: 044500 shrs, 23.58% of vol, VWAP $0.1534, 022.5% buys
    $0.1540-$0.1545: 123844 shrs, 65.61% of vol, VWAP $0.1544, 091.1% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%
    06/19 $0.1539 +00.25% 66.4%

    The larger trades (>= 15K) occurred on 3 of the 30 trades, 10.00%. These 47,750 shares were 25.30% of day's volume, and traded at a VWAP of $0.1540. 2 of the larger trades, 66.67%, were buys of 32,750 shares, 68.59% of the larger trades volume, and traded at a VWAP of $0.1544. 1 of the larger trades, 33.33%, were sells of 15,000 shares, 31.41% of the larger trades volume, and traded at a VWAP of $0.1530.

    The other 27 trades, 90.00% of the day's trades, traded 141,002 shares, 74.70% of the days volume. The VWAP was $0.1538. 18 trades, 66.67%, were buys and accounted for 92,494 shares, 65.60% of the smaller trade volume, and traded at a VWAP of $0.1542. 9 trades, 33.33%, were sells and accounted for 48,508 shares, 34.40% of the smaller trade volume, and traded at a VWAP of $0.1531.

    Regarding my newer inflection point calculations, we have two consecutive days of improvements in all periods since Tuesday's selling spree. It's still low-volume, barring us from having great confidence that a trend may have started, but at least it's not just "noise" that is flipping every day. We can start to watch and see if a trend is maintained regardless of volume. After all, it's entirely possible that price can "melt up", just like the Fed has caused the S & P 500 to do regardless of "fundamentals".
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    +003.00 -065.29 -0352.37 -1210.44 -02808.94 -07553.54
    +029.49 -061.16 -0311.99 -0891.57-02355.42-06713.50
    +067.80 -639.10 -1999.79 -5603.32 -18175.05 -54058.95
    -005.54 -150.66 -0328.36 -0985.12 -02518.98 -07026.63
    -006.01 -149.65 -0257.91 -0974.13 -02396.13 -06770.08
    -005.36 -003.81 -0257.18 -0853.87 -02236.89 -06423.59
    -049.25 -020.95 -0254.43 -0945.23 -02406.04 -06779.28
    -070.20 -062.65 -0245.56 -1043.19 -02474.55 -07014.77
    -316.72 -333.60 -1213.34 -5732.46 -17038.80 -53507.42
    -034.40 -038.82 -0141.96 -0753.12 -02087.62 -06380.34

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/18/2014: EOD stuff partially copied to the concentrator.
    # Trds: 8, MinTrSz: 645, MaxTrSz: 35000, Vol: 85290, AvTrSz: 10661
    Min. Pr: 0.1520, Max Pr: 0.1549, VW Avg. Tr. Pr: 0.1535
    # Buys, Shares: 4 46290, VW Avg Buy Pr: 0.1545
    # Sells, Shares: 4 39000, VW Avg Sell Pr: 0.1523
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1.19:1 (54.27% "buys"), DlyShts 45000 (52.76%), Dly Sht % of 'sells' 115.38%

    The 160K offer at $0.17 was again present today, remaining in CDEL MM's hands.

    VWAP continues to creep lower. Recent VWAPs oldest through today: $0.1594, $0.1549, $0.1545, $0.1553, $0.1560, $0.1540, $0.1517 and $0.1535. 5, 10 and 25-day VWAP averages are $0.1541, $0.1556 and $0.1617. Yesterday they were $0.1543, $0.1560 and $0.1612

    Well, apparently yesterday's volume bump was a seller that really wanted out because the sell percentage was 78.6% on 376.83K and today sell percent was 45.7% on 85.29K.

    As has been common, the high of the day is set early on very small trades. Today it was two trades of 645 shares each for $0.1549 at 09:33 and 09:36 respectively. The next lowest price of $0.1545 was set in trades of 35K and 5K at 11:26 just before Maya's 34K at 11:33.

    Beginning with 6/11, the highs seemed not to have any tendency to challenge my descending resistance. Today, with the resistance looking like ~$0.155 (it's hard to read it now as chart markers overlap badly), our high challenged and the resistance held. However, with the low volume recently, but for yesterday, and with the low volume today specifically, I assign no weight to this event.

    The oscillators I watch continued as with yesterday - mixed movements. Nothing to add other than low volume makes them all suspect anyway.

    The interesting bid from ATDF of 300K at $0.15 that appeared yesterday and sat there for the whole day, when we had some higher volume (~376.8K) was nowhere to be found today. This lends some credence, in my mind anyway, to my speculation in a comment in the concentrator that it was there to provide a floor so that yesterday's seller(s) (78.6% sells vs. today's low-volume 45.7%) could more likely sell above $0.15.

    Today's low, high, VWAP, trade volume, and daily short sales moved 1.27%, -1.02%, 1.18%, -77.37% and -24.19% respectively. Price spread today was 1.91% vs. 4.26%, 4.53%, 1.95%, 5.61%, 5.89%, 9.93%, 7.71%, 8.26% and 8.01% on prior days.

    No trading breakdowns today.

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%
    06/18 $0.1535 +01.18% 54.3%

    There were two larger trades - a buy of 35K for $0.1545 at 11:26 and a sell of 17K for $0.1520 at 11:33, part of Mayascribe's sell of 54K that he posted in the concentrator.

    Regarding my newer inflection point calculations, yesterday's volume improvement prompted me to say we might be exiting a period of apparent just low-volume induced volatility. WRONG! Today volume tanked again and I attribute today's weakening in all periods as nothing more that typical low-volume "noise". I don't assign any weight to the movements.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -860.99 -493.88 -2363.34 -7037.00 -19683.81 -55718.19
    +003.00 -065.29 -0352.37 -1210.44 -02808.94 -07553.54
    +029.49 -061.16 -0311.99 -0891.57-02355.42-06713.50
    +067.80 -639.10 -1999.79 -5603.32 -18175.05 -54058.95
    -005.54 -150.66 -0328.36 -0985.12 -02518.98 -07026.63
    -006.01 -149.65 -0257.91 -0974.13 -02396.13 -06770.08
    -005.36 -003.81 -0257.18 -0853.87 -02236.89 -06423.59
    -049.25 -020.95 -0254.43 -0945.23 -02406.04 -06779.28
    -070.20 -062.65 -0245.56 -1043.19 -02474.55 -07014.77
    -316.72 -333.60 -1213.34 -5732.46 -17038.80 -53507.42

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/17/2014: EOD stuff partially copied to the concentrator.
    # Trds: 44, MinTrSz: 14, MaxTrSz: 30000, Vol: 376829, AvTrSz: 8564
    Min. Pr: 0.1501, Max Pr: 0.1565, VW Avg. Tr. Pr: 0.1517
    # Buys, Shares: 11 80695, VW Avg Buy Pr: 0.1550
    # Sells, Shares: 33 296134, VW Avg Sell Pr: 0.1508
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:3.67 (21.41% "buys"), DlyShts 59356 (15.75%), Dly Sht % of 'sells' 20.04%

    We had two "market locks" today when the ask was lowered to match the bid. It then took a few minutes for the MMs to sort it out and get the trades done to unlock the market. The first occurred at 9:38 at $0.1501 when ARCA offered below the $0.1569 offer that was best at the time, and at 14:50 when ARCA again undercut the best offer, $0.1559, with a $0.1503 offer.

    The 160K offer at $0.17 was present today, back into the CDEL MM's hands.

    VWAP continues to creep lower. Recent VWAPs oldest through today: $0.1594, $0.1549, $0.1545, $0.1553, $0.1560, $0.1540 and $0.1517.

    Yesterday I said "A small bump in volume today may not be big enough to signal anything, but it's enough to cause concern, especially with ...". Well, today volume returned and the results weren't pretty, as you can see with the above VWAP changes and still-low (but improving) buy percentage.

    The high for the day was set by one buy of 2.347 shares for $0.1565 at 11:07. The next lower price, $0.1560, had a sell of 10K at 10:38 and a buy of 4,924 at 12:18. Some volume did appear at the next price down, $0.1559, as four trades moved 44.2K shares.

    As has been the case beginning with 6/11, the highs continue to sink and seem not to have any tendency to challenge my descending resistance, currently looking like ~$0.1560.

    Today the oscillators I watch continued with mixed movements - RSI and ADX related are flat, very small up-ticks for momentum, Williams %R (exited oversold) and full stochastic. MFI weakened. The lower Bollinger limit continued downward to $0.1464 now, as did the upper limit, down to $0.1764. The 50-day SMA is now at $0.1552 and our close, $0.1550, and VWAP, $0.1517, are both below it. The 50-day SMA will continue to fall about 6 more days if our price range stays where it is.

    We had an interesting bid from ATDF of 300K (plus 7K more added later) at $0.15 that appeared at 9:38 and set there for the whole day. There were many opportunities where the ask was within a few hundredths of a penny that might have enticed a serious buyer. Since these opportunities had no effect, I'm thinking this was a "floor" to let sellers get shed of shares at a price >= $0.15 and not a serious intent to buy. Let's see how many more days this order appears and if it holds its ground as VWAP keeps reducing (I think!).

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.00%, -0.25%, -1.47%, 328.75% and 2192.62% respectively. Price spread today was 4.26% vs. 4.53%, 1.95%, 5.61%, 5.89%, 9.93%, 7.71%, 8.26%, 8.01% and 12.52% on prior days.

    Here's a trading breakdown by arbitrary time-frames.
    09:33-09:33: 000649 shrs, 00.17% of vol, VWAP $0.1540, 100.0% buys
    09:36-09:47: 071065 shrs, 18.86% of vol, VWAP $0.1504, 000.0% buys
    10:20-10:38: 027500 shrs, 07.30% of vol, VWAP $0.1531, 000.0% buys
    11:07-12:18: 007346 shrs, 01.95% of vol, VWAP $0.1561, 100.0% buys
    13:35-13:56: 077800 shrs, 20.65% of vol, VWAP $0.1503, 000.0% buys
    14:32-14:46: 041000 shrs, 10.88% of vol, VWAP $0.1559, 100.0% buys
    14:50-14:54: 073200 shrs, 19.43% of vol, VWAP $0.1503, 000.0% buys
    14:57-15:18: 028200 shrs, 07.48% of vol, VWAP $0.1532, 011.3% buys
    15:24-15:29: 035069 shrs, 09.31% of vol, VWAP $0.1521, 067.0% buys
    15:52-15:55: 015000 shrs, 03.98% of vol, VWAP $0.1520, 033.3% buys

    Here's a breakdown by arbitrary price range.
    $0.1501-$0.1511: 253634 shrs, 67.31% of vol, VWAP $0.1504, 000.0% buys
    $0.1520-$0.1525: 045000 shrs, 11.94% of vol, VWAP $0.1522, 044.4% buys
    $0.1540-$0.1559: 060924 shrs, 16.17% of vol, VWAP $0.1557, 087.7% buys
    $0.1560-$0.1565: 017271 shrs, 04.58% of vol, VWAP $0.1561, 042.1% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    06/02 $0.1598 -02.57% 57.3%
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%
    06/17 $0.1517 -01.47% 21.4%

    The larger trades (>= 15K) occurred on 8 of the 44 trades, 18.18%. These 162,800 shares were 43.20% of day's volume, and traded at a VWAP of $0.1517. 2 of the larger trades, 25.00%, were buys of 50,000 shares, 30.71% of the larger trades volume, and traded at a VWAP of $0.1545. 6 of the larger trades, 75.00%, were sells of 112,800 shares, 69.29% of the larger trades volume, and traded at a VWAP of $0.1504.

    The other 36 trades, 81.82% of the day's trades, traded 214,029 shares, 56.80% of the days volume. The VWAP was $0.1517. 9 trades, 25.00%, were buys and accounted for 30,695 shares, 14.34% of the smaller trade volume, and traded at a VWAP of $0.1557. 27 trades, 75.00%, were sells and accounted for 183,334 shares, 85.66% of the smaller trade volume, and traded at a VWAP of $0.1511.

    Regarding my newer inflection point calculations, we might be exiting a period of apparent just low-volume induced volatility. If volume continues at an improved level we may be able to give some weight into any changes going forward.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -859.46 -510.60 -2645.96 -6925.25 -19293.68 -55787.56
    -860.99 -493.88 -2363.34 -7037.00 -19683.81 -55718.19
    +003.00 -065.29 -0352.37 -1210.44 -02808.94 -07553.54
    +029.49 -061.16 -0311.99 -0891.57-02355.42-06713.50
    +067.80 -639.10 -1999.79 -5603.32 -18175.05 -54058.95
    -005.54 -150.66 -0328.36 -0985.12 -02518.98 -07026.63
    -006.01 -149.65 -0257.91 -0974.13 -02396.13 -06770.08
    -005.36 -003.81 -0257.18 -0853.87 -02236.89 -06423.59
    -049.25 -020.95 -0254.43 -0945.23 -02406.04 -06779.28
    -070.20 -062.65 -0245.56 -1043.19 -02474.55 -07014.77

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/16/2014: EOD stuff partially copied to the concentrator.
    # Trds: 16, MinTrSz: 100, MaxTrSz: 32600, Vol: 87890, AvTrSz: 5493
    Min. Pr: 0.1501, Max Pr: 0.1569, VW Avg. Tr. Pr: 0.1540
    # Buys, Shares: 4 3872, VW Avg Buy Pr: 0.1557
    # Sells, Shares: 12 84018, VW Avg Sell Pr: 0.1539
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:21.70 (04.41% "buys"), DlyShts 2589 (02.95%), Dly Sht % of 'sells' 3.08%

    VWAP continues to creep lower. The 5, 10, 25 and 50-day average VWAPS are all descending and now at $0.1549, $0.1576, $0.1607 and $0.1560 respectively. Recent VWAPs oldest through today: $0.1594, $0.1549, $0.1545, $0.1553, $0.1560 and $0.1540.

    A small bump in volume today may not be big enough to signal anything, but it's enough to cause concern, especially with VWAP lower again, "sells" being ~95.5% of the volume and 75% of the trades (12/16). The two larger trades were sells too.

    The low of the day, $0.1501, occurred on one sell of 2,589 shares at 9:30, the second trade of the day. The next higher price came on a 2,589 share sell for $0.1513 at 9:30, the first trade of the day.

    Interesting is the fact that the daily short volume was 2,589 shares.

    The high for the day was set by three buys for $0.1569 from 9:30 to 9:36. Trade sizes were 100, 636 and 636 respectively.

    The 160K offer at $0.17 was not present today.

    Today's low, high, VWAP, trade volume, and daily short sales moved -2.53%, -0.06%, -1.31%, 232.83% and -65.48% respectively. Price spread today was 4.53% vs. 1.95%, 5.61%, 5.89%, 9.93%, 7.71%, 8.26%, 8.01%, 12.52% and 4.81% on prior days.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:30: 005178 shrs, 05.89% of vol, VWAP $0.1507, 000.0% buys
    09:30-09:36: 001372 shrs, 01.56% of vol, VWAP $0.1569, 100.0% buys
    09:39-10:04: 046099 shrs, 52.45% of vol, VWAP $0.1540, 000.0% buys
    10:13-10:13: 007000 shrs, 07.96% of vol, VWAP $0.1514, 000.0% buys
    11:19-13:53: 028241 shrs, 32.13% of vol, VWAP $0.1550, 008.9% buys

    Here's a breakdown by arbitrary price range.
    $0.1501-$0.1501: 002589 shrs, 02.95% of vol, VWAP $0.1501, 000.0% buys
    $0.1513-$0.1514: 009589 shrs, 10.91% of vol, VWAP $0.1514, 000.0% buys
    $0.1540-$0.1541: 046099 shrs, 52.45% of vol, VWAP $0.1540, 000.0% buys
    $0.1550-$0.1550: 028241 shrs, 32.13% of vol, VWAP $0.1550, 008.9% buys
    $0.1569-$0.1569: 001372 shrs, 01.56% of vol, VWAP $0.1569, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/30 $0.1640 -06.29% 06.8%
    06/02 $0.1598 -02.57% 57.3%
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%
    06/16 $0.1540 -01.31% 04.4%

    The larger trades (>= 15K) occurred on 2 of the 16 trades, 12.50%. These 52,236 shares were 59.43% of day's volume, and traded at a VWAP of $0.1544. All were sells. Trade sizes were 32.6K ($0.1540) and 19.636K ($0.1550).

    The other 14 trades, 87.50% of the day's trades, traded 35,654 shares, 40.57% of the days volume. The VWAP was $0.1534. 4 trades, 28.57%, were buys and accounted for 3,872 shares, 10.86% of the smaller trade volume, and traded at a VWAP of $0.1557. 10 trades, 71.43%, were sells and accounted for 31,782 shares, 89.14% of the smaller trade volume, and traded at a VWAP of $0.1531.

    Today the oscillators I watch had mixed movements - very small up-ticks for RSI, momentum, Williams %R and full stochastic. ADX related and MFI weakened. The lower Bollinger limit continued downward, as did the upper limit.

    As has been the case beginning with 6/11, the highs continue to sink and seem not to have any tendency to challenge my descending resistance, currently looking like ~$0.1580.

    Today's buy percentage plummeted to 4.41% from yesterday's 52.2%. The daily short sales moved to 2.95% from yesterday's 28.4%. In the next day or two, if any volume returns, the buy and daily short percentage should start moving towards normal levels. Sans some volume improvement, not as likely.

    Regarding my newer inflection point calculations, we continue in a period of apparently just low-volume induced volatility. As mentioned, with low volume continuing, don't read much into any changes right now.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -114.79 -076.84 -0377.27 -1127.70 -02377.12 -06803.58
    -859.46 -510.60 -2645.96 -6925.25 -19293.68 -55787.56
    -860.99 -493.88 -2363.34 -7037.00 -19683.81 -55718.19
    +003.00 -065.29 -0352.37 -1210.44 -02808.94 -07553.54
    +029.49 -061.16 -0311.99 -0891.57-02355.42-06713.50
    +067.80 -639.10 -1999.79 -5603.32 -18175.05 -54058.95
    -005.54 -150.66 -0328.36 -0985.12 -02518.98 -07026.63
    -006.01 -149.65 -0257.91 -0974.13 -02396.13 -06770.08
    -005.36 -003.81 -0257.18 -0853.87 -02236.89 -06423.59
    -049.25 -020.95 -0254.43 -0945.23 -02406.04 -06779.28

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/13/2014: EOD stuff partially copied to the concentrator.
    # Trds: 11, MinTrSz: 396, MaxTrSz: 6200, Vol: 26407, AvTrSz: 2401
    Min. Pr: 0.1540, Max Pr: 0.1570, VW Avg. Tr. Pr: 0.1560
    # Buys, Shares: 7 13774, VW Avg Buy Pr: 0.1569
    # Sells, Shares: 4 12633, VW Avg Sell Pr: 0.1550
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1.09:1 (52.16% "buys"), DlyShts 7500 (28.40%), Dly Sht % of 'sells' 59.37%

    My overall take there is still no reason for optimism that we'll hold a higher, or even level, price near-term. Of course, with volume again in the dumps, all of this could change quite suddenly. I wouldn't be making any big decisions on any technical factors now.

    The low of the day, $0.1540, occurred on one sell of 537 shares at 9:53. The next higher price came on a 396 share sell for $0.1541 10:38. That same price was on a 5.5K sell at 15:03.

    The high for the day was set by a single 5K buy for $0.1570 at 11:56. Just below that were six sells at $0.1569 of 637(2) shares at 09:44/48, 2.5K(2) shares at 12:36/38, and 1,250(2) at 13:05/06.

    The 160K offer at $0.17, this time from CSTI instead of CDEL, was present today.

    Today's low, high, VWAP, trade volume, and daily short sales moved 1.65%, -1.88%, 0.44%, -44.21% and 500.00% respectively. Price spread today was 1.95% vs. 5.61%, 5.89%, 9.93%, 7.71%, 8.26%, 8.01%, 12.52%, 4.81% and 12.62% on prior days.

    Here's a trading breakdown by arbitrary time-frames.
    09:44-09:48: 001274 shrs, 04.82% of vol, VWAP $0.1569, 100.0% buys
    09:53-10:38: 000933 shrs, 03.53% of vol, VWAP $0.1540, 000.0% buys
    11:56-12:26: 011200 shrs, 42.41% of vol, VWAP $0.1564, 044.6% buys
    12:36-13:06: 007500 shrs, 28.40% of vol, VWAP $0.1569, 100.0% buys
    15:03-15:03: 005500 shrs, 20.83% of vol, VWAP $0.1541, 000.0% buys

    Here's a breakdown by arbitrary price range.
    $0.1540-$0.1541: 006433 shrs, 24.36% of vol, VWAP $0.1541, 000.0% buys
    $0.1560-$0.1560: 006200 shrs, 23.48% of vol, VWAP $0.1560, 000.0% buys
    $0.1569-$0.1569: 008774 shrs, 33.23% of vol, VWAP $0.1569, 100.0% buys
    $0.1570-$0.1570: 005000 shrs, 18.93% of vol, VWAP $0.1570, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/29 $0.1750 -00.28% 39.3%
    05/30 $0.1640 -06.29% 06.8%
    06/02 $0.1598 -02.57% 57.3%
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%
    06/13 $0.1560 +00.44% 52.2%

    There were no larger trades today.

    VWAP continues to weaken its grip on the $0.16 range. From 5/28 forward: $0.1755, $0.1750, $0.1640, $0.1598, $0.1679, $0.1567, $0.1604, $0.1567, $0.1594, $0.1549, $0.1545 ($0.1541 if that single $0.1599 trade is removed), $0.1553 and $0.1560 today. Here are the 5-day and 10-day VWAP averages change since 5/28 and note that both are falling and the 5-day crossed below the 10-day, which is also descending. The five-day is below the 25-day and 50-day.
    _5-day_ 10-day_
    $0.1647 $0.1663
    $0.1674 $0.1666
    $0.1684 $0.1661
    $0.1680 $0.1655
    $0.1684 $0.1654
    $0.1647 $0.1647
    $0.1618 $0.1646
    $0.1603 $0.1644
    $0.1602 $0.1641
    $0.1576 $0.1630
    $0.1572 $0.1609
    $0.1561 $0.1590
    $0.1560 $0.1582

    Today the oscillators I watch had very small up-ticks except momentum and ADX related. The lower Bollinger limit continued downward, as did the upper limit.

    The highs continue to sink and seem not to have any tendency to challenge my descending resistance, currently looking like ~$0.16.

    Today's buy percentage improved to 52.2%. The daily short sales moved to 28.4% from yesterday's 2.64%. On extremely low volume there is no significance to this.

    Regarding my newer inflection point calculations, we have apparently entered a period of just low-volume induced volatility as we drop old higher-volume metrics out of the respective windows and insert new low-volume metrics. As mentioned, with low volume continuing, don't read much into any changes right now.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -064.47 -144.96 -0507.17 -1242.89 -02759.45 -07514.75
    -103.93 -105.49 -0538.30 -1489.77 -03232.90 -08413.85
    -114.79 -076.84 -0377.27 -1127.70 -02377.12 -06803.58
    -859.46 -510.60 -2645.96 -6925.25 -19293.68 -55787.56
    -860.99 -493.88 -2363.34 -7037.00 -19683.81 -55718.19
    +003.00 -065.29 -0352.37 -1210.44 -02808.94 -07553.54
    +029.49 -061.16 -0311.99 -0891.57-02355.42-06713.50
    +067.80 -639.10 -1999.79 -5603.32 -18175.05 -54058.95
    -005.54 -150.66 -0328.36 -0985.12 -02518.98 -07026.63
    -006.01 -149.65 -0257.91 -0974.13 -02396.13 -06770.08
    -005.36 -003.81 -0257.18 -0853.87 -02236.89 -06423.59

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/12/2014: EOD stuff partially copied to the concentrator.
    # Trds: 10, MinTrSz: 625, MaxTrSz: 10000, Vol: 47330, AvTrSz: 4733
    Min. Pr: 0.1515, Max Pr: 0.1600, VW Avg. Tr. Pr: 0.1553
    # Buys, Shares: 4 8880, VW Avg Buy Pr: 0.1599
    # Sells, Shares: 6 38450, VW Avg Sell Pr: 0.1543
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:4.33 (18.76% "buys"), DlyShts 1250 (02.64%), Dly Sht % of 'sells' 3.25%

    My overall take is still no optimism that we'll hold a higher, or even level, price near-term. Same old reasons: low volume, falling VWAP, falling average trade size, negative traditional TA oscillators, the (artificial?) high again stopped dead almost right at my descending resistance (continuing the lower highs pattern), ...

    The low of the day, $0.1515, occurred on one sell of 3,250 shares at 9:52. The next higher price came on a single 10K sell for $0.1540 at 13:25

    The high for the day was $0.16 on two buys of 625 shares in the first seven minutes of trading. The next lower price appeared on two buys for $0.1599, one at 10:42 for 4.6K and one at 13:42 for 3K.

    The 160K offer at $0.17 from CDEL was back today.

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.33%, 0.06%, 0.57%, -71.59% and -95.70% respectively. Price spread today was 5.61% vs. 5.89%, 9.93%, 7.71%, 8.26%, 8.01%, 12.52%, 4.81%, 12.62% and 15.03% on prior days.

    Here's a trading breakdown by arbitrary time-frames.
    09:34-09:37: 001250 shrs, 02.64% of vol, VWAP $0.1600, 100.0% buys
    09:52-09:52: 003250 shrs, 06.87% of vol, VWAP $0.1515, 000.0% buys
    10:42-10:42: 004630 shrs, 09.78% of vol, VWAP $0.1599, 100.0% buys
    12:21-13:25: 029200 shrs, 61.69% of vol, VWAP $0.1547, 000.0% buys
    13:42-13:42: 003000 shrs, 06.34% of vol, VWAP $0.1599, 100.0% buys
    15:31-15:31: 006000 shrs, 12.68% of vol, VWAP $0.1540, 000.0% buys

    Here's a breakdown by arbitrary price range.
    $0.1515-$0.1515: 003250 shrs, 06.87% of vol, VWAP $0.1515, 000.0% buys
    $0.1540-$0.1540: 016000 shrs, 33.81% of vol, VWAP $0.1540, 000.0% buys
    $0.1550-$0.1550: 019200 shrs, 40.57% of vol, VWAP $0.1550, 000.0% buys
    $0.1599-$0.1599: 007630 shrs, 16.12% of vol, VWAP $0.1599, 100.0% buys
    $0.1600-$0.1600: 001250 shrs, 02.64% of vol, VWAP $0.1600, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/28 $0.1755 +05.79% 68.3%
    05/29 $0.1750 -00.28% 39.3%
    05/30 $0.1640 -06.29% 06.8%
    06/02 $0.1598 -02.57% 57.3%
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%
    06/12 $0.1553 +00.57% 18.8%

    There were no larger trades today.

    VWAP continues to weaken its grip on the $0.16 range. From 5/28 forward: $0.1755, $0.1750, $0.1640, $0.1598, $0.1679, $0.1567, $0.1604, $0.1567, $0.1594, $0.1549, $0.1545 ($0.1541 if that single $0.1599 trade is removed) and $0.1553 today. Here are the 5-day and 10-day VWAP averages change since 5/28 and note that both are falling and the 5-day crossed below the 10-day, which is also descending. The five-day is below the 25-day and 50-day.
    _5-day_ 10-day_
    $0.1647 $0.1663
    $0.1674 $0.1666
    $0.1684 $0.1661
    $0.1680 $0.1655
    $0.1684 $0.1654
    $0.1647 $0.1647
    $0.1618 $0.1646
    $0.1603 $0.1644
    $0.1602 $0.1641
    $0.1576 $0.1630
    $0.1572 $0.1609
    $0.1561 $0.1590

    Today the oscillators I watch continued to weaken except RSI, Williams %R and MFI, all of which had a very small uptick. Full stochastic went further, again, into oversold. A hopeful sign yesterday disappeared today as the lower Bollinger limit started downward while the low price of the day only ticked up 5/100ths of a cent. The upper limit continues falling.

    Today's buy percentage move up slightly to 18.8% from yesterday's 14.1% (8.61% if we remove that single 10K $0.1599 trade). The daily short sales continued dropping even further from yesterday's 17.45% to 2.64%. On extremely low volume there is no significance to this divergence from normal behavior though - it has been seen before with no effect on general behavior detected.

    Regarding my newer inflection point calculations, we have apparently entered a period of just low-volume induced volatility as we drop old higher-volume metrics out of the respective windows and insert new low-volume metrics. As mentioned, with low volume continuing, don't read much into any changes right now.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    +078.59 +076.59 -0207.81 -0552.71 -01329.60 -05014.06
    -064.47 -144.96 -0507.17 -1242.89 -02759.45 -07514.75
    -103.93 -105.49 -0538.30 -1489.77 -03232.90 -08413.85
    -114.79 -076.84 -0377.27 -1127.70 -02377.12 -06803.58
    -859.46 -510.60 -2645.96 -6925.25 -19293.68 -55787.56
    -860.99 -493.88 -2363.34 -7037.00 -19683.81 -55718.19
    +003.00 -065.29 -0352.37 -1210.44 -02808.94 -07553.54
    +029.49 -061.16 -0311.99 -0891.57-02355.42-06713.50
    +067.80 -639.10 -1999.79 -5603.32 -18175.05 -54058.95
    -005.54 -150.66 -0328.36 -0985.12 -02518.98 -07026.63
    -006.01 -149.65 -0257.91 -0974.13 -02396.13 -06770.08

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/11/2014: EOD stuff partially copied to the concentrator.
    # Trds: 24, MinTrSz: 50, MaxTrSz: 21700, Vol: 166574, AvTrSz: 6941
    Min. Pr: 0.1510, Max Pr: 0.1599, VW Avg. Tr. Pr: 0.1545
    # Buys, Shares: 7 23478, VW Avg Buy Pr: 0.1582
    # Sells, Shares: 17 143096, VW Avg Sell Pr: 0.1538
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:6.09 (14.09% "buys"), DlyShts 29073 (17.45%), Dly Sht % of 'sells' 20.32%

    Strangeness in the trading continues as we again have long gaps in trading and relatively little aggressiveness in offer movement until late in the day. The bids moved much more frequently. There also were sporadic relatively large jumps in the prices bid or offered. Later in the day NITE and ATDF were the most aggressive. Even then there was no heavy trading.

    Maybe this isn't the strangeness, maybe it was the PIPErs trading that was strangeness and this might be the "new normal" until a catalyst appears. Let's hope not.

    My overall take is still no optimism that we'll hold a higher, or even level, price near-term. Same old reasons: low volume, falling VWAP, falling average trade size, negative traditional TA oscillators, the (artificial?) high again stopped dead almost right at my descending resistance (continuing the lower highs pattern), ...

    The low of the day, $0.1510, had good volume, 41.7K shares including one of 21.7K, and was near to other trading prices.

    The high for the day was a single 10K trade at $0.1599 just before noon and was not within reach of other trading prices. The next lower price was 1.19% lower at $0.1580. Further, at the time of the trade the immediately prior trades went at $0.1511, $0.1510 and $0.1520. Subsequent trades didn't occur until 13:09 and went for $0.1575.

    I didn't see the 160K offer that we've been watching.

    Today's low, high, VWAP, trade volume, and daily short sales moved 0.67%, -3.03%, -0.26%, -3.16% and -37.75% respectively. Price spread today was 5.89% vs. 9.93%, 7.71%, 8.26%, 8.01%, 12.52%, 4.81%, 12.62%, 15.03% and 5.26% on prior days.

    If we remove the high of $0.1599 and use $0.1580, our movements on the high becomes -4.18% rather than the -3.03 we have. Our spread becomes 4.64% instead of 5.89%. It was enough of the days volume that it would also move our VWAP down from $0.1545 to $0.1541, making the VWAP movement today -0.50% instead of -0.26%. Since the trade was a buy, it would drop buy percentage from the reported 14.1% to 8.61%.

    Here's a trading breakdown by arbitrary time-frames. I shortened a couple periods to isolate a few exceptional trades.
    09:30-09:56: 021290 shrs, 12.78% of vol, VWAP $0.1512, 003.0% buys
    10:56-10:59: 030000 shrs, 18.01% of vol, VWAP $0.1580, 000.0% buys
    11:50-11:51: 038700 shrs, 23.23% of vol, VWAP $0.1511, 005.2% buys
    11:59-14:36: 030783 shrs, 18.48% of vol, VWAP $0.1585, 067.5% buys
    15:11-15:36: 030301 shrs, 18.19% of vol, VWAP $0.1550, 000.2% buys
    15:55-15:55: 015500 shrs, 09.31% of vol, VWAP $0.1515, 000.0% buys

    Here's a breakdown by arbitrary price range.
    $0.1510-$0.1515: 072200 shrs, 43.34% of vol, VWAP $0.1511, 000.0% buys
    $0.1520-$0.1540: 002251 shrs, 01.35% of vol, VWAP $0.1522, 088.8% buys
    $0.1550-$0.1560: 031340 shrs, 18.81% of vol, VWAP $0.1550, 002.2% buys
    $0.1575-$0.1580: 050783 shrs, 30.49% of vol, VWAP $0.1579, 021.2% buys
    $0.1599-$0.1599: 010000 shrs, 06.00% of vol, VWAP $0.1599, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/27 $0.1659 +02.52% 91.4%
    05/28 $0.1755 +05.79% 68.3%
    05/29 $0.1750 -00.28% 39.3%
    05/30 $0.1640 -06.29% 06.8%
    06/02 $0.1598 -02.57% 57.3%
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%
    06/11 $0.1545 -00.26% 14.1%

    The larger trades (>= 15K) occurred on 3 of the 24 trades, 12.50%. These 53,150 shares were 31.91% of day's volume, and traded at a VWAP of $0.1523. All were sells. Trade sizes were 15.5K ($0.1515), 15.95K ($0.1550) and 21.7K ($0.1510).

    The other 21 trades, 87.50% of the day's trades, traded 113,424 shares, 68.09% of the days volume. The VWAP was $0.1555. 7 trades, 33.33%, were buys and accounted for 23,478 shares, 20.70% of the smaller trade volume, and traded at a VWAP of $0.1582. 14 trades, 66.67%, were sells and accounted for 89,946 shares, 79.30% of the smaller trade volume, and traded at a VWAP of $0.1547.

    The concerns expressed over the last three days seem to have been prescient. Along with the continued drop in VWAP today, the high continues to honor my descending resistance, currently around $0.161 or so, and the lows continue to challenge the support at $0.15 and volume remains tanked. Moreover ...

    VWAP continues to weaken its grip on the $0.16 range. From 5/28 forward: $0.1755, $0.1750, $0.1640, $0.1598, $0.1679, $0.1567, $0.1604, $0.1567, $0.1594, $0.1549 and $0.1545 ($0.1541 if that single $0.1599 trade is removed) today. Here are the 5-day and 10-day VWAP averages change since 5/28 and note that both are falling and the 5-day crossed below the 10-day, which is also descending. The five-day has now crossed below the 25-day (crossed yesterday) and the 50-day (crossed today).
    _5-day_ 10-day_
    $0.1647 $0.1663
    $0.1674 $0.1666
    $0.1684 $0.1661
    $0.1680 $0.1655
    $0.1684 $0.1654
    $0.1647 $0.1647
    $0.1618 $0.1646
    $0.1603 $0.1644
    $0.1602 $0.1641
    $0.1576 $0.1630
    $0.1572 $0.1609

    Today the oscillators I watch continued to weaken. Full stochastic went further, again, into oversold. A hopeful sign is that price is very near the rising lower Bollinger, currently reading $0.1496. The upper limit is falling and currently has a value of $0.1785, now below our known resistance at $0.18.

    With today's buy percentage to 14.1% (8.61% if we remove that single 10K $0.1599 trade) from yesterday's 25.6% and 82.2% before that, the daily short sales continued as expected, dropping even further from yesterday's 27.15% to 17.45%. As I had mentioned, normally this leads to weakening price if the daily short percentage continues lower, which I suspected will be the case for a day or two.

    Regarding my newer inflection point calculations, we have apparently entered a period of just low-volume induced volatility as we drop old higher-volume metrics out of the respective windows and insert new low-volume metrics. Today the readings reversed again, going from generally big down moves yesterday to five periods improving today. As mentioned, with low volume continuing, don't read much into it.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    +078.59 +076.59 -0207.81 -0552.71 -01329.60 -05014.06
    -064.47 -144.96 -0507.17 -1242.89 -02759.45 -07514.75
    -103.93 -105.49 -0538.30 -1489.77 -03232.90 -08413.85
    -114.79 -076.84 -0377.27 -1127.70 -02377.12 -06803.58
    -859.46 -510.60 -2645.96 -6925.25 -19293.68 -55787.56
    -860.99 -493.88 -2363.34 -7037.00 -19683.81 -55718.19
    +003.00 -065.29 -0352.37 -1210.44 -02808.94 -07553.54
    +029.49 -061.16 -0311.99 -0891.57-02355.42-06713.50
    +067.80 -639.10 -1999.79 -5603.32 -18175.05 -54058.95
    -005.54 -150.66 -0328.36 -0985.12 -02518.98 -07026.63

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/10/2014: EOD stuff partially copied to the concentrator.
    # Trds: 33, MinTrSz: 100, MaxTrSz: 15000, Vol: 172006, AvTrSz: 5212
    Min. Pr: 0.1500, Max Pr: 0.1649, VW Avg. Tr. Pr: 0.1549
    # Buys, Shares: 11 44056, VW Avg Buy Pr: 0.1592
    # Sells, Shares: 22 127950, VW Avg Sell Pr: 0.1534
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:2.90 (25.61% "buys"), DlyShts 46706 (27.15%), Dly Sht % of 'sells' 36.50%

    It was another strange trading day, but not as strange as yesterday. Check the trading breakdown by time and note several large gaps in the trading. We also had large periods again of little or not bid and ask movement and then a small-volume frenetic trading period 15:52-15:53.

    The low and high for the day all make me suspect some fishing by the MMs to try and get some volume going.

    The 160K offer that we've been watching, previously on CDEL and NITE, appeared on ETRF today at $0.17.

    My overall take is still no optimism that we'll hold a higher, or even level, price near-term. Same old reasons: low volume, falling VWAP, falling average trade size, negative traditional TA oscillators, the (artificial?) high stopped dead at my descending resistance, continuing the lower highs pattern, ...

    The high of the day was set from 9:31 to 09:40 with only three buys at $0.1649 for 100, 588 and 588 shares and later 2030 shares at $0.1649, also a buy. The next lower price, and it had volume, was at $0.1623 (three buys, two for 10K and one for 750 shares). The next lower price was down at $0.1560, so even the $0.1623 was sort of an "outlier".

    The low of the day was set by a sell of 5K shares at 15:52:46 for $0.15, a price which was never presented to the market. Volume started to build at the next higher price, $0.1501.

    Today's low, high, VWAP, trade volume, and daily short sales moved -2.02%, 0.00%, -2.81%, -42.43% and -77.82% respectively. Price spread today was 9.93% vs. 7.71%, 8.26%, 8.01%, 12.52%, 4.81%, 12.62%, 15.03%, 5.26% and 5.56% on prior days.

    If we remove the low of $0.15 and use $0.1501 for the low and remove the high of $0.1649 and use $0.1623, our movements on the low and high become -1.96% and -1.58% and our spread becomes 8.13%.

    Here's a trading breakdown by arbitrary time-frames. I shortened a couple periods to isolate a few exceptional trades. Note the 9:30 time-frame had only three buys at $0.1649 (the high of the day) for 100, 588 and 588 shares and two sells at $0.1560 for 300 and 100 shares. Similarly, the 11:01 period had buys of 750 shares at $0.1623 and 2030 shares at $0.1649, and a single sell of 250 shares at $0.1560.
    09:30-09:40: 001676 shrs, 00.97% of vol, VWAP $0.1628, 076.1% buys
    09:54-10:40: 045550 shrs, 26.48% of vol, VWAP $0.1552, 000.0% buys
    11:01-11:43: 003030 shrs, 01.76% of vol, VWAP $0.1635, 091.7% buys
    12:29-12:29: 025000 shrs, 14.53% of vol, VWAP $0.1551, 000.0% buys
    12:41-12:47: 020000 shrs, 11.63% of vol, VWAP $0.1623, 100.0% buys
    12:56-13:59: 030000 shrs, 17.44% of vol, VWAP $0.1550, 066.7% buys
    15:52-15:53: 046750 shrs, 27.18% of vol, VWAP $0.1503, 000.0% buys

    Here's a breakdown by arbitrary price range. Note there was only one trade, a sell, of 5K shares at 15:52:46 for $0.15, a price which was never presented to the market. Note the highs of the day were odd trades - all buys at $0.1649, 588 shares at 09:31:13 and 09:33:55, 100 shares at 09:40:05, and 2,030 shares at 11:01:10. The next lower price was $0.1623, two buys of 10K each and a 750 share buy. Then we drop down to $0.1560.
    $0.1500-$0.1510: 046750 shrs, 27.18% of vol, VWAP $0.1503, 000.0% buys
    $0.1550-$0.1560: 101200 shrs, 58.84% of vol, VWAP $0.1551, 019.8% buys
    $0.1623-$0.1649: 024056 shrs, 13.99% of vol, VWAP $0.1627, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/23 $0.1618 +01.88% 72.4%
    05/27 $0.1659 +02.52% 91.4%
    05/28 $0.1755 +05.79% 68.3%
    05/29 $0.1750 -00.28% 39.3%
    05/30 $0.1640 -06.29% 06.8%
    06/02 $0.1598 -02.57% 57.3%
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%
    06/10 $0.1549 -02.81% 25.6%

    There was only one larger trade, a buy of 15K shares for $0.1550 at 12:56.

    The concerns expressed over the last two days remain. The predominant one ATM is that volume remains low and VWAP continues to lose it's grip on the $0.16 area. I'm also thinking today falls into the pattern of weakness in the middle of the month after seeing some "strength" in the last week of the prior month and the first week of the current month. With the PIPErs supposedly out of ammo I can't say it will hold, but today didn't do anything to dispel that expectation.

    VWAP continues to weaken its grip on the $0.16 range. From 5/28 forward: $0.1755, $0.1750, $0.1640, $0.1598, $0.1679, $0.1567, $0.1604, $0.1567, $0.1594 and $0.1549 today. The 5-day and 10-day VWAP averages change since 5/28 and note that both are falling and the 5-day crossed below the 10-day, which is also descending.
    _5-day_ 10-day_
    $0.1647 $0.1663
    $0.1674 $0.1666
    $0.1684 $0.1661
    $0.1680 $0.1655
    $0.1684 $0.1654
    $0.1647 $0.1647
    $0.1618 $0.1646
    $0.1603 $0.1644
    $0.1602 $0.1641
    $0.1576 $0.1630

    Today the oscillators I watch switched from all are weakening, except RSI, momentum and Williams %R, to all weakening now and all below neutral. Full stochastic entered oversold today and Williams %R went deeper there today. That latter one still offers some hope, but without some kind of support I don't expect much push up from it and maybe not even stability in pps. This dim view is increased by what I see on my non-traditional stuff below.

    With today's buy percentage to 25.6% from yesterday's 82.2%, the daily short sales continued as expected, dropping to 27.15% from yesterday's near-outrageous 70.48%. Normally this leads to weakening price if the daily short percentage continues lower, which I suspect will be the case for a day or two.

    Regarding my newer inflection point calculations, we had several days of switching to a more optimistic attitude but I ended with "But we had a flat volume, still on the low side, so I wouldn't read much into this". Well, it's a good thing I didn't because all but the five-day period made BIG reversals today.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    +082.46 +068.93 -0152.23 -0420.62 -01055.40 -04502.46
    +078.59 +076.59 -0207.81 -0552.71 -01329.60 -05014.06
    -064.47 -144.96 -0507.17 -1242.89 -02759.45 -07514.75
    -103.93 -105.49 -0538.30 -1489.77 -03232.90 -08413.85
    -114.79 -076.84 -0377.27 -1127.70 -02377.12 -06803.58
    -859.46 -510.60 -2645.96 -6925.25 -19293.68 -55787.56
    -860.99 -493.88 -2363.34 -7037.00 -19683.81 -55718.19
    +003.00 -065.29 -0352.37 -1210.44 -02808.94 -07553.54
    +029.49 -061.16 -0311.99 -0891.57-02355.42-06713.50
    +067.80 -639.10 -1999.79 -5603.32 -18175.05 -54058.95

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/09/2014: EOD stuff partially copied to the concentrator.
    # Trds: 33, MinTrSz: 7, MaxTrSz: 99800, Vol: 298780, AvTrSz: 9054
    Min. Pr: 0.1531, Max Pr: 0.1649, VW Avg. Tr. Pr: 0.1594
    # Buys, Shares: 22 245460, VW Avg Buy Pr: 0.1598
    # Sells, Shares: 11 53320, VW Avg Sell Pr: 0.1574
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 4.60:1 (82.15% "buys"), DlyShts 210580 (70.48%), Dly Sht % of 'sells' 394.94%

    It was a strange trading day. Through 13:09 we had only 19 trades totaling 122,000 shares with a VWAP of $0.1592 and a buy percentage of 11.95%. This was accompanied by very little movement in the bids and asks. We then had 2.5 hours of no trades and only two changes in the ask and one in the bid. At 15:29 the sun must have set because it seems all the zombies and vampires arose in mass and by the close, 30 minutes, we traded 176,780 shares at a VWAP of $0.1595 and buy percentage of 87.09%. This was 59.17% of day's volume in 30 minutes! Do keep in mind this included the day's three larger trades totaling 155,780 shares and all were buys.

    The bid and ask changes came fast and furious too - I couldn't track all of them 100%. I did catch twelve changes in the offers, but couldn't catch the MM on some, and seven bid changes, but there were many more both from trades uncovering lower bids and new bids being injected into the queue at better prices. Ditto on the offers.

    Today's low, high, VWAP, trade volume, and daily short sales moved 2.00%, 1.48%, 1.69%, -6.05% and 73.31% respectively. Price spread today was 7.71% vs. 8.26%, 8.01%, 12.52%, 4.81%, 12.62%, 15.03%, 5.26%, 5.56% and 3.49% on prior days.

    The day's highest price occurred on one trade of 10K at $0.1649, a buy, at 15:44 during the late-day crazy trading described above. The next price down, $0.1610, occurred on two 10K trades at 12:18, both sells. Then $0.16 on six trades, three of which were the day's only larger trades, detailed below, and three more totaling 8K.

    The low of the day, $0.1531, came on four trades, 1K, 4K, 0.5K and 2K spread from 11:51 to 13:09. The next price up, $0.1550 and higher had plenty of trades and some volume.

    Here's a trading breakdown by arbitrary time-frames.
    09:40-09:46: 000500 shrs, 00.17% of vol, VWAP $0.1550, 100.0% buys
    10:07-12:07: 012000 shrs, 04.02% of vol, VWAP $0.1548, 091.7% buys
    12:08-12:34: 103000 shrs, 34.47% of vol, VWAP $0.1601, 077.7% buys
    12:44-13:09: 006500 shrs, 02.18% of vol, VWAP $0.1531, 000.0% buys
    15:29-15:44: 137780 shrs, 46.11% of vol, VWAP $0.1603, 099.3% buys
    15:53-15:59: 039000 shrs, 13.05% of vol, VWAP $0.1566, 044.1% buys

    Here's a breakdown by arbitrary price range.
    $0.1531-$0.1531: 007500 shrs, 02.51% of vol, VWAP $0.1531, 000.0% buys
    $0.1550-$0.1599: 097500 shrs, 32.63% of vol, VWAP $0.1578, 073.5% buys
    $0.1600-$0.1649: 193780 shrs, 64.86% of vol, VWAP $0.1604, 089.7% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/22 $0.1588 -01.72% 38.2%
    05/23 $0.1618 +01.88% 72.4%
    05/27 $0.1659 +02.52% 91.4%
    05/28 $0.1755 +05.79% 68.3%
    05/29 $0.1750 -00.28% 39.3%
    05/30 $0.1640 -06.29% 06.8%
    06/02 $0.1598 -02.57% 57.3%
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%
    06/09 $0.1594 +01.69% 82.2%

    The larger trades (>= 15K) occurred on 3 of the 33 trades, 9.09%. These 155,780 shares were 52.14% of day's volume, and traded at a VWAP of $0.1600. All were buys. All traded at $0.16. All traded 15:34 - 15:40. Trade sizes were 15,980, 40K and 99.8K.

    The other 30 trades, 90.91% of the day's trades, traded 143,000 shares, 47.86% of the days volume. The VWAP was $0.1587. 19 trades, 63.33%, were buys and accounted for 89,680 shares, 62.71% of the smaller trade volume, and traded at a VWAP of $0.1594. 11 trades, 36.67%, were sells and accounted for 53,320 shares, 37.29% of the smaller trade volume, and traded at a VWAP of $0.1574.

    The concerns expressed yesterday remain, as today:
    - I didn't see any evidence of the "fishing" by MMs to lure buyers today, suggesting to me that upward price pressure will diminish;
    - volume remains low and deteriorated today, minimally;
    - our highs continue trending lower and topped today ~$0.0025 above my descending resistance (thanks to the crazy trading?), which drops ~$0.002/day, and closed below it at $0.1600;
    - the VWAP improvement of $0.0027 today, only thanks to the larger trades, wasn't sufficient to make me believe the trend lower is ending - I still think it's losing its grip on $0.16 (see below);
    - the MMs may have started to revert to the tactic of dropping price to get a little volume as very little change and little bid or offer increase was really seen until the late-day craziness;
    - price spreads, which were fairly wide but have narrowed the last few days continues the trend. Spreads since 5/30 were 15.03%, 12.62%, 4.81%, 12.52%, 8.01%, 8.26% and 7.71% today.

    Added to the list is today starts the second week of the month. Our prior long-established pattern is to have weakness in the middle of the month after seeing some "strength" in the last week of the prior month and the first week of the current month. With the PIPErs supposedly out of ammo I can't say it will hold, but I wait to see.

    VWAP, which had shown a strong tendency to vacillate around the $0.16 area looked to be losing its grip on that range yesterday. From 5/28 forward: $0.1755, $0.1750, $0.1640, $0.1598, $0.1679, $0.1567, $0.1604, $0.1567 and $0.1594 today. For clarity, look at the 5-day and 10-day VWAP averages change since 5/28 and note that both are falling and the 5-day crossed below the 10-day.
    _5-day_ 10-day_
    $0.1647 $0.1663
    $0.1674 $0.1666
    $0.1684 $0.1661
    $0.1680 $0.1655
    $0.1684 $0.1654
    $0.1647 $0.1647
    $0.1618 $0.1646
    $0.1603 $0.1644
    $0.1602 $0.1641

    The oscillators I watch are all weakening, except RSI, momentum and Williams %R, both of which had a small improvement today, and all below neutral.

    Yesterday, Friday, the recently-seen offer of 160K at $0.169 from CDEL/NITE was absent. Today it was back.

    With today's 82.2% buy percentage, the daily short sales performed as expected, hitting a near-outrageous 70.48%.

    Regarding my newer inflection point calculations, two days ago switched small changes split three improving and three still weakening - the first signs of breaking the down trend. Yesterday followed through with all periods improved, some with large moves, and even had the five-day period going slightly positive. Today continues the trend with all periods showing improvement a second consecutive day. But we had a flat volume, still on the low side, so I wouldn't read much into this.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    +082.46 +068.93 -0152.23 -0420.62 -01055.40 -04502.46
    +078.59 +076.59 -0207.81 -0552.71 -01329.60 -05014.06
    -064.47 -144.96 -0507.17 -1242.89 -02759.45 -07514.75
    -103.93 -105.49 -0538.30 -1489.77 -03232.90 -08413.85
    -114.79 -076.84 -0377.27 -1127.70 -02377.12 -06803.58
    -859.46 -510.60 -2645.96 -6925.25 -19293.68 -55787.56
    -860.99 -493.88 -2363.34 -7037.00 -19683.81 -55718.19
    +003.00 -065.29 -0352.37 -1210.44 -02808.94 -07553.54
    +029.49 -061.16 -0311.99 -0891.57 -02355.42 -06713.50

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/06/2014: EOD stuff partially copied to the concentrator.
    # Trds: 44, MinTrSz: 100, MaxTrSz: 85000, Vol: 318025, AvTrSz: 7228
    Min. Pr: 0.1501, Max Pr: 0.1625, VW Avg. Tr. Pr: 0.1567
    # Buys, Shares: 20 163025, VW Avg Buy Pr: 0.1592
    # Sells, Shares: 22 121000, VW Avg Sell Pr: 0.1535
    # Unkn, Shares: 2 34000, VW Avg Unk. Pr: 0.1561
    Buy:Sell 1.35:1 (51.26% "buys"), DlyShts 121500 (38.20%), Dly Sht % of 'sells' 100.41%

    There was one after-market trade of 2.5K shares that FINRA-reported daily short sales don't include. Adding that to the FINRA trade volume raises it from 315,525 to 318,025 and would lower the short percentage from 38.51% to 38.20%. If the shares are also added to the short sales, the short volume moves from 121,500 to 124,000 and the short percentage would be 38.99%.

    Today's low, high, VWAP, trade volume, and daily short sales moved -2.21%, -1.99%, -2.27%, 35.49% and 43.96% respectively. Price spread today was 8.26% vs. 8.01%, 12.52%, 4.81%, 12.62%, 15.03%, 5.26%, 5.56%, 3.49% and 5.77% on prior days.

    The day's highest prices occurred on the first four trades of the day: $0.1625 for 1.5K, 1K, 100 shares and 1K. All were "buys" and occurred from 9:30 through 9:37.

    The low of the day, $0.1501, came on two trades, one at 11:21 for 1,500 and one at 14:25 for 3,150 shares. Trades just before the 11:21 trade were $0.1550-$0.1561, several, and after were $0.1502 and $0.1502, one each. The trades just before the 14:25 trade were $0.1509-$0.1510, several, and after was one for $0.1550 and subsequently higher.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:37: 003600 shrs, 01.13% of vol, VWAP $0.1625, 100.0% buys
    10:22-10:30: 028125 shrs, 08.84% of vol, VWAP $0.1599, 068.0% buys
    10:55-10:55: 100000 shrs, 31.44% of vol, VWAP $0.1600, 100.0% buys
    11:21-12:00: 043750 shrs, 13.76% of vol, VWAP $0.1554, 035.7% buys
    12:32-13:14: 021200 shrs, 06.67% of vol, VWAP $0.1588, 049.5% buys
    13:56-14:25: 073600 shrs, 23.14% of vol, VWAP $0.1516, 000.6% buys
    14:59-16:03: 047750 shrs, 15.01% of vol, VWAP $0.1558, 028.8% buys

    Here's a breakdown by arbitrary price range.
    $0.1501-$0.1523: 083700 shrs, 26.32% of vol, VWAP $0.1515, 000.5% buys
    $0.1530-$0.1530: 008850 shrs, 02.78% of vol, VWAP $0.1530, 097.2% buys
    $0.1550-$0.1570: 066000 shrs, 20.75% of vol, VWAP $0.1562, 020.5% buys
    $0.1580-$0.1599: 057750 shrs, 18.16% of vol, VWAP $0.1595, 067.1% buys
    $0.1600-$0.1600: 098125 shrs, 30.85% of vol, VWAP $0.1600, 100.0% buys
    $0.1625-$0.1625: 003600 shrs, 01.13% of vol, VWAP $0.1625, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/21 $0.1616 -01.18% 42.7%
    05/22 $0.1588 -01.72% 38.2%
    05/23 $0.1618 +01.88% 72.4%
    05/27 $0.1659 +02.52% 91.4%
    05/28 $0.1755 +05.79% 68.3%
    05/29 $0.1750 -00.28% 39.3%
    05/30 $0.1640 -06.29% 06.8%
    06/02 $0.1598 -02.57% 57.3%
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%
    06/06 $0.1567 -02.27% 53.1%

    The larger trades (>= 15K) occurred on 3 of the 44 trades, 6.82%. These 129,000 shares were 40.56% of day's volume, and traded at a VWAP of $0.1593. 2 of the larger trades, 66.67%, were buys of 100,000 shares, 77.52% of the larger trades volume, and traded at a VWAP of $0.1600. 1 of the larger trades, 33.33%, was a sell of 29,000 shares, 22.48% of the larger trades volume, and traded at a VWAP of $0.1570.

    The other 41 trades, 93.18% of the day's trades, traded 189,025 shares, 59.44% of the days volume. The VWAP was $0.1550. 18 trades, 43.90%, were buys and accounted for 63,025 shares, 33.34% of the smaller trade volume, and traded at a VWAP of $0.1580. 23 trades, 56.10%, were sells and accounted for 126,000 shares, 66.66% of the smaller trade volume, and traded at a VWAP of $0.1534.

    A summary of concerns drawn from the following is that I'm increasingly concerned that without a near-term catalyst the pressure is increasing to trade below the support at $0.15. This can all change in a heartbeat, catalyst or not of course, but right now there's few positive suggestions appearing.

    I didn't see any evidence of the "fishing" by MMs to lure buyers today - only one trade of 100 shares and 6 others ranging from 250 to 700 shares in size with half sells and half buys. These were scattered throughout the day and looked like normal MM trade activity to me. This lack of fishing suggest that upward price pressure will diminish.

    Volume remains low, but continued to improve, up another 35.5% today. If we get another day of improved volume, maybe we can consider a trend is underway. At ~318K, today's volume got into range of the 10-day average of 315K yesterday - 289K now. The 25, 50 and 100-day averages, in thousands are 476, 793 and 1152.

    Unfortunately, as the volume continues to improve our highs continue trending lower, as does the VWAP, while the lows remain "flattish". This fits with two concerns expressed previously.

    The most immediate is that the MMs may have started to revert to the tactic of dropping price to get a little volume so they can make some money. The MMs can really only accomplish this when volume is low. When it's high due to pressure one way or the other from traders and investors, they just have to "go with the flow" and work with the trends that result. They are capable of making money easily in such an environment.

    See the bid and ask movement discussion below that cause me to think the MMs may be reverting to the tactic of lowering the trading range. This thought is also supported by the VWAP behavior.

    VWAP had shown a strong tendency to vacillate around the $0.16 area. But the recent trend is not good and it looks to be losing its grip on that range. From 5/28 forward: $0.1755, $0.1750, $0.1640, $0.1598, $0.1679, $0.1567, $0.1604 and $0.1567. For clarity, look at the 5-day and 10-day VWAP averages change since 5/28 and note that both are falling and the 5-day crossed below the 10-day.
    _5-day_ 10-day_
    $0.1647 $0.1663
    $0.1674 $0.1666
    $0.1684 $0.1661
    $0.1680 $0.1655
    $0.1684 $0.1654
    $0.1647 $0.1647
    $0.1618 $0.1646
    $0.1603 $0.1644

    The longer-term concern was what I expressed some time back, that the $0.15 support didn't seem as stout as the $0.18 resistance. Three of the last six days have lows that "touched" the support. Beginning with 5/30: $0.1530, $0.1506, $0.1622, $0.1510, $0.1535 and $0.1501. As the highs continue to drop, downward pressure on the lows should increase as the MMs need a "spread" to garner their profit. With the retail investors seemingly "on hold" for now, the only real movement should be generated by the MMs.

    The price spreads were fairly wide but have narrowed the last two days. This should motivate the MMs to move the price. Spreads since 5/30 were 15.03%, 12.62%, 4.81%, 12.52%, 8.01% and 8.26%. At current prices those last two spreads may be insufficient for the MMs to make money.

    Recently, ATDF (as always) and NITE have been most aggressive on both the bid and ask sides. CDEL, ETRF and CSTI occasionally make "one-shot" moves, but I think those are more likely retail moves rather than MM moves.

    That's with some volume returning, albeit still really low. I think now we may be in a position to consider what seems likely "next". All the above, IMO, suggests moving below $0.15, sans a near-term catalyst. Maybe a look at traditional TA oscillators can support or controvert that conclusion.

    The oscillators I watch are all weakening and all below neutral. Williams %R just entered oversold, which could be a bright spot since traditional TA looks for oversold conditions to suggest reversal is near. If volume was remaining low or falling, rather than increasing, maybe I could agree. But not for now.

    However, the last three occurrences (4/16, 5/1 and 5/6) of Williams %R entering oversold (first was in the middle of the down leg from the $0.20 high of 4/3), price did stabilize, after a price decline that blew right through $0.15 on a volume increase in the first case (4/14-4/17 with %R then continuing to near max-oversold). The next two cases we were already below $0.15 and remained so until that 5/14 "pop" to $0.1891 (due to the faux Kia catalyst?) on 5/14 with a move to a high of $0.1891 on ~1.85MM shares volume.

    We have since trended lower.

    The other oscillators are not near extremes, so they add little to the deductions we might make. Nothing else on the traditional TA chart seems to support a near-term possible positive outcome though. These oscillators are generally weakening, the price is generally mid-point of the Bollingers (IOW, no suggestion of a move up or down seeming likely), ...

    In the non-traditional arena the bid and ask action seems to also suggest less likely upward movement.

    After four days of seeing MM's walk the bid up as they leapfrogged each other, the pattern finally broke and we saw only brief periods of that activity and a much stronger pattern of normal mixed up and down bid movements. From the open through 10:56 there were only six bid moves that I saw and they were mixed up and down. At 11:21 we got some activity beginning with three lowered bids and then eight raised bids through 11:54, a small step down at 11:59 and then eight more raised bids through 13:04. The high bid got up to $0.158 at that time. From then through the rest of the day it was a more typical mix of up and down mostly staying in the $0.151-$0.152 range with a few excursions late in the day to the $0.1501 bids that CDEL and BNCH had waiting in the background.

    It was almost all ATDF and a little NITE through 10:30. Then CDEL joined in and as bid levels dropped, when "sells" began to predominate, the bids began to drop back exposing the lower bids from CDEL and BNCH. Above those levels ATDF was still dominant and NITE was the primary competitor.

    So bid behavior is not suggesting an upward move as the walking of the bids up trend seems to be gone.

    On the other side, we had a third consecutive day of pressure, but a bit lessened, on the sell side as the offers made six consecutive steps lower, going from the opening $0.1625 to $0.1599 by 10:19. Offers stabilized in that general area, ~$0.1597-$0.1600, excepting a single $0.153 offer at 11:59 which was immediately snapped up in three "buys", until 13:14 when a $0.158 offer began slow drift lower, getting the offer down to $0.155 at 14:49. However the offers tended, for the most part, to remain in the $0.159 area through this period and the moves were a reasonable mix of increases and decreases as various trades uncovered higher offers.

    This action does not suggest, to me, an upward movement might be in the offing, although early signs from the ask behavior offers the possibility a reduction of downward pressure on the sell side may be coming.

    On a positive note, the recently-seen offer of 160K at $0.169 from CDEL/NITE was absent today. With the last two days buy percentage around 50%, maybe they got taken out (at a lower price?0. Speaking of the buy percentages ...

    My 10 and 25-day average buy percentages have climbed up into neutral ranges from the low values seen mid-May. But I can't give them weight because the 10 and 25-day average trade sizes have been dropping dramatically. This latter metric, combined with low number of trades and low volume, suggests that the buy percentage improvement is a weak indicator for now. If you look at the charts you'll see what I mean.

    As usual with the increase in buy percentage, the daily short sales percentage also increased, as it should. I said yesterday that with the small volume improvement we need to be careful here though because it could be that the leg down [in daily short percentage] completed and we might be transitioning to a sideways range. Today adds to that possibility. If that's what's happening it does reduce the likelihood of lower price. But this is not a primary driver of the trend overall so we can't really do more than conclude that short percentage is not adding to the suggestion of downward price movement.

    Regarding my newer inflection point calculations, yesterday switched from big negative moves to small changes split three improving and three still weakening. Today the early suggestion of improvement follows through with all periods improved, some with large moves, and even has the five-day period going slightly positive. This matches my original version's behavior too - all improved and the five-day makes a positive number. At the current levels though I think this is just an artifact of the range in buy:sell and other stuff being a bit stable at higher levels than previously seen.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    +043.36 -027.57 -0263.59 -0756.84 -02058.02 -06301.70
    +082.46 +068.93 -0152.23 -0420.62 -01055.40 -04502.46
    +078.59 +076.59 -0207.81 -0552.71 -01329.60 -05014.06
    -064.47 -144.96 -0507.17 -1242.89 -02759.45 -07514.75
    -103.93 -105.49 -0538.30 -1489.77 -03232.90 -08413.85
    -114.79 -076.84 -0377.27 -1127.70 -02377.12 -06803.58
    -859.46 -510.60 -2645.96 -6925.25 -19293.68 -55787.56
    -860.99 -493.88 -2363.34 -7037.00 -19683.81 -55718.19
    +003.00 -065.29 -0352.37 -1210.44 -02808.94 -07553.54

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/05/2014: EOD stuff partially copied to the concentrator.
    # Trds: 32, MinTrSz: 25, MaxTrSz: 32000, Vol: 234725, AvTrSz: 7335
    Min. Pr: 0.1535, Max Pr: 0.1658, VW Avg. Tr. Pr: 0.1604
    # Buys, Shares: 20 110600, VW Avg Buy Pr: 0.1621
    # Sells, Shares: 12 124125, VW Avg Sell Pr: 0.1588
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:1.12 (47.12% "buys"), DlyShts 84400 (35.96%), Dly Sht % of 'sells' 68.00%

    The day's lowest prices occurred on the two largest trades of the day: $0.1535 for 20K and $0.1538 for 32K. Both were "sells" and occurred at 11:56 and 12:41 respectively.

    The high of the day came on two trades at 15:15 for 9,925 and 10K shares for $0.1658. Trades just before were $0.1650, several, and also came at 15:12 so the highs were not "outliers".

    The "fishing" by MMs to lure buyers was mostly absent today - only two trades of 100 shares, and one of them was two odd-lot (25 and 75 shares) trades.

    Volume remains low, but better than recently, hitting 234.7K today, up 167.19% from yesterday. It was marginally enough for me consider doing some deeper analysis until I considered that it was just one more little "bump up" and not yet indicative of any trend of "decent" volume. For some context, the 10, 25, 50 and 100-day averages are 315K, 587K, 815K and 1.158K respectively. If we get something nearing the 10-day average over a few days it might be worthwhile. Until then I don't give much weight to any of the traditional or non-traditional TA stuff.

    The only traditional TA thing I do want to note is that our highs have been trending lower as the lows remain "flattish". This fits with my concern, mentioned below, that the MMs may have started to revert to the tactic of dropping price to get a little volume so they can make some money.

    Continuing the recent behavior, four of the last five days have seen very wide price spreads and forays into the $0.15xx area. Lows 5/30-6/5: $0.1530, $0.1506, $0.1622, $0.1510 and $0.1535. However VWAP has vacillated around the $0.16 area: $0.1640, $0.1598, $0.1679, $0.1567 and $0.1604.

    Again, all of this gives no help on taking a guess at what's next. Could remain in the $0.15-$0,18 range or decide to move one way or the other. The low volume exacerbates the situation.

    We had another day, the fourth, of seeing MM's walk the bid up as they leapfrogged each other. After a drop from a bid of $0.16 at 9:31 dropped to $0.1512 at 10:07, we had 19 consecutive bid increases up to $0.1602 at 14:07 before seeing a break with a drop to $0.16 at 14:29. At 15:12 we hit a bid of $0.165 as CANT showed up. The next three bids settled in at $0.1602-$0.161.

    It was all ATDF and NITE through 12:32 and then ETRF and CDEL jumped in for a couple hikes.

    On the other side, we had a second day of greater pressure on the sell side as the offers made 10 consecutive steps lower, going from $0.1643 to $0.1599 from 9:31 to 12:02 before getting a normal behavior underway with mixed increases and decreases in the offer price. The following trend was generally up, especially as the buyers began to step up, and we saw offers up as high as $0.169, albeit briefly, before settling in during the last 45 minutes or so at the $0.1625-$0.1650 range.

    Yesterday I had mentioned "... I suspect the MMs are beginning to abandon the attempts to get any volume with increasing price, and are beginning to gravitate to the old tried and true increase volume by lowering price". I still consider that if this is case, the $0.15 support, which I mentioned previously didn't look as robust as the $0.18 resistance, is at risk.

    However, the VWAP continues to have an affinity for the $0.16xx price range.

    The recently-seen offer of 160K at $0.169 from CDEL was present again today. At current volumes, this likely caps the upside in price. If volume comes back to more normal levels, this won't present much impediment to moving a bit higher, maybe even to the $0.18 resistance. But there are no signs yet that a push up is imminent.

    Today's low, high, VWAP, trade volume, and daily short sales moved 1.66%, -2.41%, 2.31%, 167.19% and 529.85% respectively. Price spread today was 8.01% vs. 12.52%, 4.81%, 12.62%, 15.03%, 5.26%, 5.56%, 3.49%, 5.77% and 5.17% on prior days.

    As mentioned yesterday, when buy percentage retreated to 30.1%, I think today's 47.1% buy percentage is continuing to reflect closer to true sentiment. But this is still with low volume so no confidence can be had about that. It probably reflects MM actions more than "sentiment" of investors.

    With the increase in buy percentage the daily short sales percentage also increased, as it should, and continued the choppy "leg down" we've been expecting to play out. With the small volume improvement we need to be careful here though. It could be that the leg down completed and we might be transitioning to a sideways range. We'll just have to wait and see.

    Regarding my newer inflection point calculations, yesterday had big negative moves. Today all the changes are small and split three improving and three still weakening. Although volume improved today, it's still low volume and I would be cautious about any conclusions here.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    +009.29 -140.06 -0398.10 -0933.55 -02615.14 -07265.81
    +043.36 -027.57 -0263.59 -0756.84 -02058.02 -06301.70
    +082.46 +068.93 -0152.23 -0420.62 -01055.40 -04502.46
    +078.59 +076.59 -0207.81 -0552.71 -01329.60 -05014.06
    -064.47 -144.96 -0507.17 -1242.89 -02759.45 -07514.75
    -103.93 -105.49 -0538.30 -1489.77 -03232.90 -08413.85
    -114.79 -076.84 -0377.27 -1127.70 -02377.12 -06803.58
    -859.46 -510.60 -2645.96 -6925.25 -19293.68 -55787.56
    -860.99 -493.88 -2363.34 -7037.00 -19683.81 -55718.19

    The larger trades (>= 15K) occurred on 4 of the 32 trades, 12.50%. These 84,000 shares were 35.79% of day's volume, and traded at a VWAP of $0.1561. 1 of the larger trades, 25.00%, was a buy of 17,000 shares, 20.24% of the larger trades volume, and traded at a VWAP of $0.1600. 3 of the larger trades, 75.00%, were sells of 67,000 shares, 79.76% of the larger trades volume, and traded at a VWAP of $0.1551.

    The other 28 trades, 87.50% of the day's trades, traded 150,725 shares, 64.21% of the days volume. The VWAP was $0.1627. 19 trades, 67.86%, were buys and accounted for 93,600 shares, 62.10% of the smaller trade volume, and traded at a VWAP of $0.1625. 9 trades, 32.14%, were sells and accounted for 57,125 shares, 37.90% of the smaller trade volume, and traded at a VWAP of $0.1631.

    Here's a trading breakdown by arbitrary time-frames.
    09:35-09:48: 002200 shrs, 00.94% of vol, VWAP $0.1643, 100.0% buys
    10:07-11:03: 008000 shrs, 03.41% of vol, VWAP $0.1600, 037.5% buys
    11:56-12:41: 052000 shrs, 22.15% of vol, VWAP $0.1537, 000.0% buys
    13:02-14:13: 066100 shrs, 28.16% of vol, VWAP $0.1601, 062.2% buys
    15:09-15:11: 034300 shrs, 14.61% of vol, VWAP $0.1637, 100.0% buys
    15:12-15:12: 040925 shrs, 17.44% of vol, VWAP $0.1650, 036.7% buys
    15:22-15:23: 016200 shrs, 06.90% of vol, VWAP $0.1617, 000.0% buys
    15:56-15:59: 015000 shrs, 06.39% of vol, VWAP $0.1625, 100.0% buys

    Here's a breakdown by arbitrary price range.
    $0.1535-$0.1538: 052000 shrs, 22.15% of vol, VWAP $0.1537, 000.0% buys
    $0.1600-$0.1625: 100300 shrs, 42.73% of vol, VWAP $0.1605, 058.9% buys
    $0.1637-$0.1643: 051500 shrs, 21.94% of vol, VWAP $0.1638, 100.0% buys
    $0.1650-$0.1650: 011000 shrs, 04.69% of vol, VWAP $0.1650, 000.0% buys
    $0.1658-$0.1658: 019925 shrs, 08.49% of vol, VWAP $0.1658, 000.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/20 $0.1635 -02.97% 49.5%
    05/21 $0.1616 -01.18% 42.7%
    05/22 $0.1588 -01.72% 38.2%
    05/23 $0.1618 +01.88% 72.4%
    05/27 $0.1659 +02.52% 91.4%
    05/28 $0.1755 +05.79% 68.3%
    05/29 $0.1750 -00.28% 39.3%
    05/30 $0.1640 -06.29% 06.8%
    06/02 $0.1598 -02.57% 57.3%
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%
    06/05 $0.1604 +02.31% 47.1%

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/04/2014: EOD stuff partially copied to the concentrator.
    # Trds: 17, MinTrSz: 100, MaxTrSz: 20000, Vol: 87850, AvTrSz: 5168
    Min. Pr: 0.1510, Max Pr: 0.1699, VW Avg. Tr. Pr: 0.1567
    # Buys, Shares: 10 26450, VW Avg Buy Pr: 0.1650
    # Sells, Shares: 7 61400, VW Avg Sell Pr: 0.1532
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1:2.32 (30.11% "buys"), DlyShts 13400 (15.25%), Dly Sht % of 'sells' 21.82%

    The only five trades above $0.1645 contained three trades of 100 shares, two at $0.1699 and one at $0.1698. This occurred after an opening trade buy of 6K at $0.1699. The 100 share trades occurred from 9:47 to 10:17. At 10:12 a 1K trade at $0.1698 went off. From 10:32 on the range was $0.1510 to $0.1645. The day's highest-priced trades were those five I detailed.

    Relative to the number of trades and volume, the "fishing" by MMs to lure buyers was again "heavier" today than before. Four of seventeen trades were 100 shares, three for $0.1698 and one at $0.1620. All were buys.

    Volume remains very low, even lower from yesterday, -13.92%. Under these conditions all metrics are of marginal use at best. Again I'll forgo most of my usual examinations.

    Three of the last for days have seen very wide price spreads and forays into the $0.15xx area. 5/30-64: $0.1530, $0.1506, $0.1622 and $0.1510. However VWAP has vacillated around the $0.16 area: $0.1640, $0.1598, $0.1679 and $0.1567.

    All of this gives no help on taking a guess at what's next. Could remain in the $0.15-$0,18 range or decide to move one way or the other. The low volume exacerbates the situation.

    For the third consecutive day we've seen MM's walk the bid up as they leapfrogged each other, usually ATDF and NITE by 1/100ths of a penny, from early on. 6/2 saw 28 consecutive increases from 10:02 to 13:33, 6/3 had 20 from 9:30 to 13:31, and today, 6/4, had 24 from 9:35 to 11:41. The frequency and regularity, somewhat, of these moves makes me think these are not retail or serious buyers searching for fills, but rather MMs trying to generate volume so they can make a bit of money off the orders they may have in hand. This seems especially true of ATDF which seems to expend great effort to be best on both the buy and sell side throughout the day. The 100 share "lures" adds to my suspicions.

    On the other side, today was the first day that we saw somewhat similar activity on the sell side as the offers were much more stable the prior days (I'm guessing the MMs had visions of high paid prices resulting from their "fishing"). Today, from 10:00 to 10:51, there were twelve consecutive steps down on the offer, mostly NITE and ATDF doing battle. From there forward the offers were a bit more stable in range and varied in direction more normally, with some up and some down looking about evenly split.

    From this I suspect the MMs are beginning to abandon the attempts to get any volume with increasing price, and are beginning to gravitate to the old tried and true increase volume by lowering price. If this is case, the $0.15 support, which I mentioned previously didn't look as robust as the $0.18 resistance, is at risk.

    Adding in the recently-seen 160K offers of 160K at $0.17 and $0.169 from CDEL and NITE (I suspect these are the same order laid off from CDEL to NITE? But that's an assumption!), the risk of a down movement seems increased.

    Today's low, high, VWAP, trade volume, and daily short sales moved -6.91%, -0.06%, -6.67%, -13.92% and -61.17% respectively. Price spread today was 12.52% vs. 4.81%, 12.62%, 15.03%, 5.26%, 5.56%, 3.49%, 5.77%, 5.17% and 4.85% on prior days.

    I think today's buy percentage is beginning to reflect closer to true sentiment. But with volume so low, no confidence can be had about that.

    With the drop in buy percentage the daily short sales percentage also dropped, as it should, and continued the choppy "leg down" we've been expecting to play out. I'll repeat that this generally leads to weakening price.

    Regarding my newer inflection point calculations, yesterday I said "the weakening trend is (temporarily?) abating. Without volume we still can't know if it's significant though". Well, temporarily was right - check the last line. Big negative moves. Again, with low volume I would be cautious about any conclusions here.
    _5-day_ 10-day_ _25-day_ _50-day_ _100-day_ _200-day_
    -088.78 -235.41 -0491.00 -1166.26 -03162.90 -08257.22
    +009.29 -140.06 -0398.10 -0933.55 -02615.14 -07265.81
    +043.36 -027.57 -0263.59 -0756.84 -02058.02 -06301.70
    +082.46 +068.93 -0152.23 -0420.62 -01055.40 -04502.46
    +078.59 +076.59 -0207.81 -0552.71 -01329.60 -05014.06
    -064.47 -144.96 -0507.17 -1242.89 -02759.45 -07514.75
    -103.93 -105.49 -0538.30 -1489.77 -03232.90 -08413.85
    -114.79 -076.84 -0377.27 -1127.70 -02377.12 -06803.58
    -859.46 -510.60 -2645.96 -6925.25 -19293.68 -55787.56

    There were no larger trades today. The largest trades were
    9.9K @ $0.1510 @ 13:12:25, 10K @ $ 0.1512 @ 13:11:38, 10K @ $0.1511 @ 13:12:05, 20K @ $0.1511 @ 13:12:24, and 10K @ $0.1622 @ 15:47:35.

    Here's a trading breakdown by arbitrary time-frames. Note ... 100 share trades ...
    09:35-09:58: 006200 shrs, 07.06% of vol, VWAP $0.1699, 100.0% buys
    10:12-10:17: 001100 shrs, 01.25% of vol, VWAP $0.1698, 100.0% buys
    10:32-13:11: 016100 shrs, 18.33% of vol, VWAP $0.1553, 006.8% buys
    13:12-15:47: 049900 shrs, 56.80% of vol, VWAP $0.1533, 020.0% buys
    15:48-15:48: 006500 shrs, 07.40% of vol, VWAP $0.1622, 000.0% buys
    15:48-15:50: 008700 shrs, 09.90% of vol, VWAP $0.1643, 092.5% buys

    Here's a breakdown by arbitrary price range.
    $0.1510-$0.1512: 049900 shrs, 56.80% of vol, VWAP $0.1511, 000.0% buys
    $0.1618-$0.1622: 022600 shrs, 25.73% of vol, VWAP $0.1621, 049.1% buys
    $0.1644-$0.1645: 008050 shrs, 09.16% of vol, VWAP $0.1645, 100.0% buys
    $0.1698-$0.1699: 007300 shrs, 08.31% of vol, VWAP $0.1699, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/19 $0.1685 +01.17% 63.5%
    05/20 $0.1635 -02.97% 49.5%
    05/21 $0.1616 -01.18% 42.7%
    05/22 $0.1588 -01.72% 38.2%
    05/23 $0.1618 +01.88% 72.4%
    05/27 $0.1659 +02.52% 91.4%
    05/28 $0.1755 +05.79% 68.3%
    05/29 $0.1750 -00.28% 39.3%
    05/30 $0.1640 -06.29% 06.8%
    06/02 $0.1598 -02.57% 57.3%
    06/03 $0.1679 +05.10% 68.2%
    06/04 $0.1567 -06.67% 30.1%

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/03/2014: EOD stuff partially copied to the concentrator.
    # Trds: 33, MinTrSz: 100, MaxTrSz: 10000, Vol: 102057, AvTrSz: 3093
    Min. Pr: 0.1622, Max Pr: 0.1700, VW Avg. Tr. Pr: 0.1679
    # Buys, Shares: 28 69607, VW Avg Buy Pr: 0.1690
    # Sells, Shares: 5 32450, VW Avg Sell Pr: 0.1657
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 2.15:1 (68.20% "buys"), DlyShts 34507 (33.81%), Dly Sht % of 'sells' 106.34%

    Volume remains very low, even though up from yesterday. Under these conditions, the trading breakdown by time, price, traditional TA indicators ... are of marginal use at best. Again I'll forgo most of my usual examinations.

    Yesterday it appeared the "leg down" was still in progress as we hit $0.1506, VWAP dropped another 2.57%, we had a lower high, low, volume, ... If we looked only at price it would be easy to say it was over. Just keep in mind we've seen this show before. Today it had a twist, which we've seen for the third consecutive day.

    The "fishing" by MMs to lure buyers was "heavier" today than even yesterday's as we moved from six of seven trades of 100 shares at $0.1624 in the first 48 minutes. Today it was the first 13 trades of 100 shares each at $0.1699 from 9:43 to 10:26. As yesterday, all were "buys" that hit the ask. Finally at 11:08 and 11:24 "buys" of 7,019 and 2,020 shares, respectively, at $0.1699 were made. The next three trades, 10k(2) and 2K were for $0.1662 from 12:16 to 12:22. For the rest of the day, excluding the final trade, there were 14 more trades totaling 64.7K ranging from $0.1670 to $0.1700, 12:37 - 15:48. VWAP was $0.1686 The last trade at 15:59 of 5K shares at $0.1622 was an "outlier" both in its separation from the nearby trading range and in that it was a "sell" at the bid rather than the usual buy at the ask seen with our usual tape painting. I'm not sure why this was seen.

    Today's low, high, VWAP, trade volume, and daily short sales moved 7.70%, 0.24%, 5.10%, 31.88% and 13.08% respectively. Price spread today was 4.81% vs. 12.62%, 15.03%, 5.26%, 5.56%, 3.49%, 5.77%, 5.17%, 4.85% and 12.50% on prior days.

    The day's highest-priced trade was a single $0.17 4K share buy at 15:06. Relative to our volume, the low was "big", at four trades comprising 27K shares.

    My feeling about today's 68.2% buys is the same as yesterday: if we had any volume it would be a pleasure like yesterday's 57.27% would have been if there was volume. Without volume all it means is that the MMs managed to move some high-priced shares ($0.1690 buys VWAP vs. $0.1657 sells VWAP).

    Unlike yesterday, the short percentage was not that large as the daily short sale percentage "leg up" from an extreme low (5.11% Friday, 5/30) does it's normal "choppy" rise.

    Regarding my newer inflection point calculations, the weakening trend is (temporarily?) abating. Without volume we still can't know if it's significant though.
    _5-day_ 10-day_ 25-day_ _50-day_ 100-day_ 200-day_
    -036.38 -190.83 -454.88 -1196.33 -3084.48 -8182.46
    -088.78 -235.41 -491.00 -1166.26 -3162.90 -8257.22
    +009.29 -140.06 -398.10 -0933.55 -2615.14 -7265.81
    +043.36 -027.57 -263.59 -0756.84 -2058.02 -6301.70
    +082.46 +068.93 -152.23 -0420.62 -1055.40 -4502.46
    +078.59 +076.59 -207.81 -0552.71 -1329.60 -5014.06
    -064.47 -144.96 -507.17 -1242.89 -2759.45 -7514.75
    -103.93 -105.49 -538.30 -1489.77 -3232.90 -8413.85
    -114.79 -076.84 -377.27 -1127.70 -2377.12 -6803.58

    There were no larger trades today.

    Here's a trading breakdown by arbitrary time-frames. Note ... 100 share trades ...
    09:43-10:26: 001310 shrs, 01.28% of vol, VWAP $0.1699, 100.0% buys
    11:08-11:24: 009039 shrs, 08.86% of vol, VWAP $0.1699, 100.0% buys
    12:16-12:22: 022000 shrs, 21.56% of vol, VWAP $0.1662, 000.0% buys
    12:37-12:59: 006458 shrs, 06.33% of vol, VWAP $0.1699, 100.0% buys
    14:57-15:01: 033200 shrs, 32.53% of vol, VWAP $0.1679, 100.0% buys
    15:03-15:48: 025050 shrs, 24.55% of vol, VWAP $0.1693, 078.2% buys
    15:59-15:59: 005000 shrs, 04.90% of vol, VWAP $0.1622, 000.0% buys

    Here's a breakdown by arbitrary price range.
    $0.1622-$0.1622: 005000 shrs, 04.90% of vol, VWAP $0.1622, 000.0% buys
    $0.1662-$0.1679: 054650 shrs, 53.55% of vol, VWAP $0.1671, 049.8% buys
    $0.1680-$0.1699: 038407 shrs, 37.63% of vol, VWAP $0.1696, 100.0% buys
    $0.1700-$0.1700: 004000 shrs, 03.92% of vol, VWAP $0.1700, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/16 $0.1666 -01.41% 34.5%
    05/19 $0.1685 +01.17% 63.5%
    05/20 $0.1635 -02.97% 49.5%
    05/21 $0.1616 -01.18% 42.7%
    05/22 $0.1588 -01.72% 38.2%
    05/23 $0.1618 +01.88% 72.4%
    05/27 $0.1659 +02.52% 91.4%
    05/28 $0.1755 +05.79% 68.3%
    05/29 $0.1750 -00.28% 39.3%
    05/30 $0.1640 -06.29% 06.8%
    06/01 $0.1598 -02.57% 57.3%
    06/02 $0.1679 +05.10% 68.2%

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    06/02/2014: EOD stuff partially copied to the concentrator.
    # Trds: 26, MinTrSz: 100, MaxTrSz: 13000, Vol: 77384, AvTrSz: 2976
    Min. Pr: 0.1506, Max Pr: 0.1696, VW Avg. Tr. Pr: 0.1598
    # Buys, Shares: 18 44315, VW Avg Buy Pr: 0.1619
    # Sells, Shares: 8 33069, VW Avg Sell Pr: 0.1570
    # Unkn, Shares: 0 0, VW Avg Unk. Pr: 0.0000
    Buy:Sell 1.34:1 (57.27% "buys"), DlyShts 30515 (39.43%), Dly Sht % of 'sells' 92.28%

    Today we had a "reversion to the mean"! Yep, we went right back to very low volume of trades and shares, which was certainly "mean"! ;-)

    Under these conditions, the trading breakdown by time, price, traditional TA indicators ... are of marginal use at best. So I'll forgo most of my usual examinations. But the numbers are here.

    Yesterday's improved volume on a down day prompted me to say "I believe is the start (and maybe end too?) of the "leg down" to ~$0.1550 or so (we hit $0.1530 today) that I've been yammering about ..." and "The thing I want to mention here about the "leg down" is that we don't know if it's ended. Today's volume was large enough that we might have seen a quick exit by all those that wanted to do that". I then touched on the $0.15-$0.18 trading channel, $0.15 might provide only weak support, and I ended with " So if the leg down isn't over, we should expect $0.15 to be tested and I'm not hugely optimistic that it would hold".

    I mention all this only because it appears the "leg down" is still in progress, we hit $0.1506 today, VWAP dropped another 2.57%, lower high, low, volume, ...

    Today's low, high, VWAP, trade volume, and daily short sales moved -1.57%, -3.64%, -2.57%, -92.24% and -40.07% respectively. Price spread today was 12.62% vs. 15.03%, 5.26%, 5.56%, 3.49%, 5.77%, 5.17%, 4.85%, 12.50% and 17.61% on prior days.

    The day's three highest-priced trades were $0.1690 x 1000, 0.1696 x 100 and 0.1696 x 3600. The first two at 9:30 and the last at 14:03. All were buys.

    The "fishing" by MMs to lure buyers was "heavy" today as we had six of seven trades at $0.1624 (in the first 48 minutes) for 100 shares: five consecutive 100 and then 10K and then 100 again. Price subsequently moved lower.

    We also had the normal EOD "paint" as the last trade at 15:59:53 was a buy of 100 shares at $0.1684 when the prior trades were three sells at $0.1601 (4K and 5K, these two at 15:45 and 15:58) and $0.1640 for 8K shares at 14:28.

    If we had any volume it would be a pleasure to see the buy percentage come back from yesterday's 6.81% to 57.27% toady. Without volume all it means is that the MMs managed to move some high-priced shares ($0.1619 buys VWAP vs. $0.1570 sells VWAP) and, based on short percentage, maybe even short them and then cover at a lower price.

    Regarding my newer inflection point calculations, two days ago broke the trend of improvement with five periods weakening and yesterday was worse with all periods weaker. Today continued that trend. Without volume we can't know if it's significant though.
    _5-day_ 10-day_ 25-day_ _50-day_ 100-day_ 200-day_
    -060.72 -207.92 -413.34 -0916.84 -2448.23 -6947.28
    -036.38 -190.83 -454.88 -1196.33 -3084.48 -8182.46
    -088.78 -235.41 -491.00 -1166.26 -3162.90 -8257.22
    +009.29 -140.06 -398.10 -0933.55 -2615.14 -7265.81
    +043.36 -027.57 -263.59 -0756.84 -2058.02 -6301.70
    +082.46 +068.93 -152.23 -0420.62 -1055.40 -4502.46
    +078.59 +076.59 -207.81 -0552.71 -1329.60 -5014.06
    -064.47 -144.96 -507.17 -1242.89 -2759.45 -7514.75
    -103.93 -105.49 -538.30 -1489.77 -3232.90 -8413.85

    There were no larger trades today.

    Here's a trading breakdown by arbitrary time-frames.
    09:30-09:30: 005700 shrs, 07.37% of vol, VWAP $0.1649, 064.9% buys
    09:40-10:18: 001600 shrs, 02.07% of vol, VWAP $0.1624, 100.0% buys
    10:25-11:20: 026369 shrs, 34.08% of vol, VWAP $0.1564, 049.7% buys
    12:15-13:19: 015815 shrs, 20.44% of vol, VWAP $0.1587, 094.9% buys
    13:34-13:34: 009800 shrs, 12.66% of vol, VWAP $0.1624, 100.0% buys
    14:03-15:59: 018100 shrs, 23.39% of vol, VWAP $0.1624, 006.1% buys

    Here's a breakdown by arbitrary price range.
    $0.1506-$0.1540: 014544 shrs, 18.79% of vol, VWAP $0.1511, 000.0% buys
    $0.1570-$0.1590: 016540 shrs, 21.37% of vol, VWAP $0.1588, 090.8% buys
    $0.1601-$0.1640: 041500 shrs, 53.63% of vol, VWAP $0.1621, 059.0% buys
    $0.1684-$0.1696: 004800 shrs, 06.20% of vol, VWAP $0.1695, 100.0% buys

    Some day-to-day VWAP changes, with the end date shown and the percentage change from the prior day. Buy percentage is the last value on each line.
    05/15 $0.1690 -01.59% 68.0%
    05/16 $0.1666 -01.41% 34.5%
    05/19 $0.1685 +01.17% 63.5%
    05/20 $0.1635 -02.97% 49.5%
    05/21 $0.1616 -01.18% 42.7%
    05/22 $0.1588 -01.72% 38.2%
    05/23 $0.1618 +01.88% 72.4%
    05/27 $0.1659 +02.52% 91.4%
    05/28 $0.1755 +05.79% 68.3%
    05/29 $0.1750 -00.28% 39.3%
    05/30 $0.1640 -06.29% 06.8%
    06/01 $0.1598 -02.57% 57.3%

    "Dly Sht % of 'sells'" and inflection point changes here are in the latest daily post above.

    Disclosure: The author is long AXPW.

    Additional disclosure: I am very experimental and sometimes do my TA in non-traditional fashions. Keep this in mind when considering anything I post and be sure and consult other sources and do your due diligence. I'm barely responsible for myself and certainly not responsible for anyone else or their actions. :-)

    Jun 03 8:38 AM | Link | 1 Comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.