Whaler,

I agree with all of your points. That is why I replied to Wanderer that I don't think shorting is at work. Way too risky.

JES suggested naked shorting could be a possibility, and it could be as there is no risk in that you don't have to cover your shorts (so to speak). But I don't think it is naked shorting either.

I cannot explain the sellers, but I think there is optimism that if one buys at 20 cents, there will be a chance to make some money in the short term.

Bluenoser