With news expected any time now today was an interesting day, and maybe should have been expected....but of course hindsight (as always) is 20/20.

We closed yesterday at $2.12 and opened today's trading at $2.05....a rough start and a harbinger of what was to come as the PPS dropped all the way to $1.80 That's more than a 15% drop from Monday's close to today's low.

But instead of fear taking hold, with one poster using the word Armegeddon here and on SH, instead of "the end times', RVX rebounded strongly to climb over $2 before settling for a close at $1.99...that's a 10.5% pop off the day's low to the close.

And the volume at 222,004 was the most we've seen in over a month...with 273 trades also representing a big jump from more recent norms.

We will know soon enough, but I think this will prove to have been a cloud with the proverbial silver lining. The drop to $1.80 being the cloud of course, and the subsequent rebound being the sliver lining around the edge.

Volume moves precede price moves....and if positive news is coming in the very near future, (today or tomorrow?) then in that light today's activity will probably look perfectly logical imo.

Drop the PPS right from the start, take it down and possibly take out some stop losses and hope fear takes hold....the Armegeddon msg was likely either a manifistation of that fear (in which case logic would dictate the poster sold) or was the work of an industry player trying to elicit fear among shareholders in an effort to get them to sell.

In any case there was more than enough buying after that drop to start the PPS moving higher again....draw up an interday chart and check out the lull in activity after the drop to $1.80.....buyers stepped in and the volume sent the PPS higher.

Now all we can do is wait on the news and see how the market reacts.....if RVX starts getting wide exposre and more robust trading volumes I think we'll see the end to this kind of interday volatility for a good period of time.