Personally, I don't believe in the whole MM manipulation idea. There might be a chance to actually influence SP in thinly traded stocks but you see the pattern you speak of in so many stocks, even the large market caps. I think the initial runs stall out because the SP moving so far so fast spooks many buyers from staying in there to accumulate more. As well, overall market ups and downs will help propell or stall the stock. After a consolidation and a bit of a floor is established, investors begin to accumulate again, new investors aren't so scared of jumping in when the SP is setting new highs and the stock begins to lift. The big event is when it breaks through overhead resistance, eclipsing the new highs that had been set months before. Then, nobody is wanting to sell once they "get back to even".

To believe that there is someone manipulating SP means to me that that person or organization will sell stock in a company to drive the price down, to try to buy it at a lower price. The only time this might work is if their selling triggers stop loss orders much larger than the blocks they have been selling. Otherwise, they are likely to move the market higher when they re'enter the market. Maybe I am naive thinking there isn't widespread manipulation, but I recall seeing Coach post a similar comment, so I think I am in good company. I do believe that large buyers like mutual funds move the SP due to their high volume of buying and selling, and understand they will buy targeted companies some days, and back away for a bit as to not overheat the market and drive their own price higher.

My opinion.