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Microcap & Penny Stocks : 100,000 or more share block volume spikes
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To: dreamer who wrote (5)11/18/2001 11:31:43 AM
From: Buckey  Read Replies (1) of 42
 
Here are a group of blocks traded I would like the group to try and interpret.

NXCD ran into regulatory troubles very similaar to PVN. They were told to get more cash on hand to cover bad debt.

Anyway two weeks they tanked from $5.50 to $.90 in a day and then bottomed around .65 for a week.

This week we had three crosses immediately after close. here they are
Monday
Q 2001-11-12 16:01:18 0.650 500000
Tuesday
Q 2001-11-13 16:11:03 0.650 400000
Wednesday
Q 2001-11-14 16:11:49 0.640 200000
(each of these 3 days the daily volume was 1.9MM)
Midday Thursday the stock spiked for the first time in a week then another cross
Q 2001-11-15 16:08:10 0.740 400000.

The stock held the gains on Friday and there was no crosses. There were no other block trades any of those days or even since the orginal huge selloff.

I am of the belief that the stock was being held down by MMs and these were shares trading hands between MMs to keep athe agreement in order. I beleive this as I watched the action on Level two for two weeks.

BUT I am no expert on figuring out MM games.

Anyone with any thought on these block trades feel free to comment. And as an aside Throw NXCD on the ticker as they are for sale and maybe could bust another move next week.
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