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Microcap & Penny Stocks : GIFS
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To: rabbi who wrote (1921)2/2/1997 3:14:00 PM
From: Lee Solomon   of 8012
 
Rabbi,

I think your average down was a good move. If anyone cares to go look at a GIFS price chart you will find that back in the summer to fall time frame GIFS had very good volume. Since the fall the volume has been down and thus the price has slipped some. The price did not noise dive but slowly moved down. IMHO there is now a very solid base of GIFS stock holders (supporters) and most of the traders have moved on. They made a lot of noise as they ran for the door crying because they lost money by selling when the price did not shoot up to $7.00 like they expected.. For the past two months the price slips have occured on a few small block sells not on volume sells. Just look at the chart and you will see this. When the buyers return we should see good movement to the $3.00 level but you can expect resistance somewhere in the $3.00 to $3.50 range. A lot of the long term holders, including myself, bought in this range. If we can ever get through $3.50 who knows what will happen.

Good Trading,

Lee
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