Monday was a bit of kick in the groin, with the PPS droping to $1.90....the silver lining of course was the volume, or perhaps it would better be described as a "LACK" of volume, just 27,973 as per tmx.com.

That drop of course came as we were waiting on a rubber stamp to close the PP with Heplalink and Eastern, the deadline for which was July 26th, so by formally annoucing the closure they actually got it done with a few days to spare.

I don't know about anyone else, but given the news of July 8th announcing the closure of the deal, pending the aforementioned "rubber stamp"...I didn't think the final annoucment would have much impact on the market.

But then...perhaps that's what Monday's drop on such incredibly light volume was meant to achieve. Perhaps is was a play to drive some fear into share holders. That's just speculation on my part of course, but if its accurate speculation...then in my opinion it would stand to reason that those behind it knew Tuesday's news was forthcoming.

Here's how Tuesday's PR should have read in my opinion.

CALGARY , July 21, 2015 /CNW/ - Resverlogix Corp. ("Resverlogix") (RVX.TO) announced today that it has closed the previously-announced private placement with Shenzhen Hepalink Pharmaceutical Co., Ltd. ("Hepalink") and Eastern Capital Limited ("Eastern") that was already announced as being closed on July 8th.

Having the private placement news released yet again thanks to the completion of mere formalities....with Monday's drop, it might have led some to "sell the news". And if anything material comes out of the Epicongress, or if RVX-208 generates some excitement, or both....then those who sold Monday's "non news" might end of regretting their decision.

I was disappointed short interest didn't drop....but given the direction in the PPS over the past month I'm not surprised. Like back at the start of 2015 an on into April, if there are parties looking to accumulate RVX I think they're going to have step up and be willing to pay higher prices. Even at 107K, that isn't much volume at all....it looks to me like longs have a pretty strong grasp on their shares.

It doesn't look like my activity on this board is much needed of late....it seems there's some great conversations and discussions going on. That's great because I've been doing some day tripping this week, and that's going to continue....we ususally head out in the early afternoon and get back in the early evening.