>> Must be because there are enough willing sellers?> Yup. That's really as simple as it gets, Kidd. You know all of those folks who bought BNBN from eighty cents down to fifty cents? They're all prime suspects for cashing-in today. What's nice is that while the price didn't rise as it recently has, it didn't fall as it usually did. Suppose you spent $2500 in late September on BNBN shares. You'd have acquired about five thousand shares that yesterday were worth $4000. You started with $2500. Today you have $4000. That's a sixty percent gain, in, what--about a week? ($4000-$2500)/$2500 = .600. Even in the glory days of dot-com IPOs and everyone-is-a-stock-picker, a sixty percent gain was pretty sweet. If you could make sixty percent a year, every year, for ten or twelve years, you'd be fat by the time you were done! Doc plays around with technical analysis, and it reflects this kind of thing. People are pretty predictable. When a stock reaches a high price and falls back, then reaches that high price again, a lot of people will sell. "I missed out, the last time!" is their thinking. If enough people feel that way, they can turn a market. It runs the other way, too. "I missed out on a chance to buy at seventy-five cents a share, but if it ever gets that low again, I'm going to jump in!" People also tend to price buys and sells in round-dollar amounts. You get a lot more action at $2 $5 and $25 than you do at $16.23, $71.79 and $44.38. Harmonics of $5 and $10 seem to attract volume, too. "If it gets back down to $35, we'll sell out our position to protect our gains" may come from one trader, while across the street, another guy is thinking "If it ever gets back to $35, I'm going to get on this rocket!" Yesterday, there was a buyer for every seller, and everyone pretty much agreed that BNBN was an eighty cent company. Some of the people who got out may actually believe BNBN has potential to go higher, but it's the old Bird-in-the-hand thing. Even buyers at seventy-five cents are sitting on gains of a nickel in less than a week. It may be hard for some people to walk away from that, in an age of 6% mortgages and 1% savings.
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