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Strategies & Market Trends : The picks
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To: V3 who wrote (3640)2/3/1997 1:02:00 AM
From: Andrew Vance   of 6124
 
*AV*--HCCA--With your knowledge of how I feel about the penny stocks,
I will give you a brief read as to Freaky Friday, 1/31.

1.Hi and low for day was 0.34 and 0.55, representing a 62% swing on
the low price of the day or a 29% reduction in proce from the hi to
the closing price.

2. There is a 0.04 spread between bid and ask which represents a 10%
swing between bid and ask. That is a hefty entry or exit price to pay.

3. Anything that swings from 0.34 to 0.55 in a day needs to be watched
constantly for the appropriate timing of entry and exit. You do not buy
and walk away.

4. Suppose you enter tomorrow at 0.43 and it goes to 0.50 bid, you have
a 0.07 profit, roughly 16%. Suppose it retreats the .06 gain from Friday
and you wind up with an equivalent 15% loss. This assumes that it only
retraces its steps to Thursday's price. If it goes beyond that, you
are a heavy loser.

5. I can't give you a positive indication to proceed. I am having
trouble finding solid info on this company and will need more time.

6. 1,400,000 shares traded hands for an approximate value of $560K for
the day. That really is not a great deal of $$$ activity.

7. You know I have passed on some good opportunities before but I
personally would not take this type of risk in a penny. P. Webster's
list does not have as much volatility.

Regards
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