Thursday, August 18, 2005

Trading Update: The RallyContinues,. Buy Interest Zooms, But ERHE Goes Nowhere

Trading Update, 2:27pm, 8/18/05: The buying continues unabated, and the share price remains absolutely static as Buy after Buy ges through at $0.40. The accumulator who managed to push the price down to $0.32 yesterday has been able as the price rose buy $0.075 to buy more than 3,000,000 shares at a low average from blind-sided investors who sold in fear as the price was plummeting.

Trading Update, 2:03pm, 8/18/05: More than 257,500 shares sold in the past 35 minues without a single Sell, but as usual, the huge purchases had no effect on price, which is entirely under the control of market makers and manipulators once again emarked on their mysterious errands. With no discernible news, the volume is now 1,500 percent greater than a few days ago,

Trading Update, 1:03pm, 8/18/05: The price has finally risen to $0.40, but it took better than 3 million shares of volume to accomplish (in Spring, the same lopsided buy volume might have lifted the share price 25 cents in a single day).

There has been a lot more selling in the past hour than earlier, but Buys of 3,016,393 still hold a 3:1 edge over sells of 972,227 shares (at 1:15pm EST). In the past 25 minutes we've seen two purchases of 54,000 and 50,000, and of 3,000 and 10,000 lots with f regularity.

But just before 1pm there were nine Sells of between 3,000 and 23,000 shares each in which the Buy was immediately followed by a Sell, indicating market makers may have grown short of stock - or so I'm told. the repeated Buy/Sells appear to have had the effect of moving up the Ask to $0.40 and the Bid to $0.395. The Ask was momentarily at $0.405 at 2:06pm EDT.

Trading Update, 11:53am, 8/18/05: There have 2,024,891 shares recorded as Buys and 551,152 recorded as Sells as of 11:51am this morning. There were 23,900 shares that traded in the mid-range of the two price points and were thus unidentified. The price is still $0.40.

Trading Update, 11:50am, 8/18/05: A seller dropped his offer of 5,000 shares to $0.384 from the prevailing $0.39 and knocked the price down half a cent to $0.385.

That is a signal that day traders are now starting to bail from the morning's profits and that the "rally" - which was nothing of the kind - is over...

Trading Update, 11:27am, 8/18/05: Nearly 500,000 shares traded at $0.39 in about three dozen trades in the past 11 minutes - with just 40,000 in Sells - but failed to move the price even half a cent as accumulators continue to acquire the company from dazed and wait-weary longs.

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