Saturday, May 9, 2009

Strong Bid Support

As I have been talking about for the last few weeks we are finally seeing very strong bid support. Not only have we left the .27 bid far behind, but the stock is consolidating and building strength, probably in anticipation of the BMP (Bill My Parents) launch and the media set up behind it. Its is apparent that money is currently flowing into the stock, and lots of it.

One thing I want you to notice is that the buyers are taking their time and pulling in as many sellers as possible. This is why you have a nice up day, scattered by some smaller down days. This reflects, in my opinion some strong institutional buying. We are finally past the dog days and off the floor, heading upward.

I still see this as a GREAT time to get in. Especially for those who need to dollar cost average down. With the BMP launch, I see no reason why we shouldnt see .80 to $1 in the very short term. Im going to predict we should be to 52 week highs again by August.

Email or post comments with any questions.

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