1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46 Message Board

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Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46

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To: LegalBeast who wrote (1064)	8/22/1998 1:12:00 PM
From: TraderGreg	of 5541

You have to look at a history of daily logs and identify how many shares are "buys" and how many shares are "sells". I put them in quote because: "buys" = shares bought by investors + short covering "sells" = shares sold by investors + convertibles/options exercised/sold into the float + new shares issued by company + shorting done by MMs/offshore investors Now, in light of the sharp decline, I would suspect sells are exceeding buys. If so, then the first culprit would be to check to see if shares are being printed. The TA can determine if that has occurred. If it has, then sit back and relax because only fundamentals will turn things around. Buy more if you think the fundys will kick in . However, if the O/S and float have been relatively unchanged then we can eliminate the dilution case and concentrate on the other possibilities.. Shares are building up in MM inventory OR an excessive short position exists OR some combination of shorting and MM accumulation. Shorts will start to cover, which will provide support. If MMs are accumulating inventory, then they must be doing it for some reason. In either event, a turn around will occur. TG

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