100,000 or more share block volume spikes Message Board

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Microcap & Penny Stocks : 100,000 or more share block volume spikes

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To: Buckey who wrote (26)	11/21/2001 1:39:28 PM
From: Hawkmoon	Read Replies (2) of 42

<Thats what this thread is all about eh? Yep... Nice volume in the stock, but I would be very cautious about trading it. We're approaching tax loss selling season, and this stock has been dreadfully hammered down by the Federal investigation into the representations by management and the announced class action lawsuits by over 1/2 dozen different law firms filed this month alone (they will likely be consolidated as one) . So you could see much of the remaining cash the company possesses being set aside to cover potential liabilities. Is there something of particular fundamental interest that leads you to believe NXCD will penetrate above the current "flat line" trading pattern? Generally "gaps" whether downward or upward, will eventually be "filled" to either resistance, or support, respectively. But I've seen some good companies gap down and take months to recover (and they aren't under Federal investigation). Obviously money flow has been hugely negative over the past month and normal trading will lead to relief rallies. But is this a dead cat bounce before the next leg down, or signs of a bottom being put in. Considering book value of the company is currently .41/share, don't be surprised if it finds it's way down there. stockcharts.com[m,a]daclyymy[dc][pb50!b200!d20,2!i][vc60][iUc20!La12,26,9] From the above chart, I would feel more comfortable trading the stock once it penetrates $2/share and alters the fledgling downtrend channel it has begun creating since the gap-down. Good Luck!! (and Happy Thanksgiving!) Hawk

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